Swiggy valuation $15B ++

Personally very excited for this one, after the gains I made on Zomato.

Such a sad day for all of Swiggy folks out there. 💔 Swiggy’s private feed is full of layoff messages. More power to you guys, Swiggy doesn’t deserve you. You will do better wherever you go. ❤️ Please reach out to me in DM’s if you need any sort of help or referrals. Will try my best to help in any ways I can. Some of them worked their ass off for NYE and now this is how they have rewarded them. Everything looks like a script from last year. Same fu*king 5-10 min speech for the layoff announcement. Same severance, same method used for the layoff. Now the same consolation phase will start for the existing employees by the leadership. I hope I am wrong, but with the current ways of working, Swiggy is doomed to fail!

VC here. Doing this for fun. Don't take all views seriously.

I have saved up close to a lac from my Internships, will be starting FT soon. I was thinking of YOLOing my entire savings by buying Zomato shares. I really believe the company will grow multifolds in the future, also I won’t have qualms if they don’t do well and I end up losing my money. I feel it’s better to take a bet on this as the money isn’t really significant and is better used if Invested somewhere. I might just end up wasting it buying AJ1s, Airpods and all that expensive stuff. What do you guys think about this? What’s your view on Zomato’s future? PS- No Index funds, MF advices pls. I’ve done enough research and will Invest once I start getting monthly salary from my FT Job.

"Only when the tide goes out do you discover who's been swimming naked." - Warren Buffet I want to appreciate Swiggy for whatever they've done in the last year. Everyone's had a tough time, and through the bear market (which we are still in), everyone lost valuation majorly. You need to have a super strong business to be able to maintain strength (given we're still not in a bull). When in this market, somebody almost doubles their valuation, it's a feat. I know there's layoffs and everything that happened there too, but just happy to see all of this happen as an avid user and a small founder who's realized how tough it's been these last 1-2 years.

Swiggy is planning to go public soon and has offered to exercise our ESOPs at a certain valuation. This is not a buyback, so we will have to pay taxes on the exercised shares. Is it worth exercising now or should I wait for the IPO? I will only gain from this if the IPO price is higher than the exercise price, otherwise I will end up paying more tax. Did Zomato have a similar offer before its IPO? If so, what was the best option for its employees?

- Early investors in Swiggy, including Prosus, Accel, and Elevation Capital, are selling shares ahead of the company's IPO later this year. - New investors, such as 360 One and high net-worth individuals, are buying these shares, showing confidence in Swiggy's growth potential. - The company is signaling a potential IPO valuation of $10-13 billion, with current secondary transactions valuing it at $9.3 billion. - Accel and Elevation Capital, early investors since 2015, are selling shares to realize gains accumulated over the years. - Prosus, holding around 33% of Swiggy, needs to reduce its stake to 25% or below to avoid being tagged as a promoter during the IPO. Source: Moneycontrol

- Swiggy, backed by SoftBank, plans to file its draft red herring prospectus with India's market regulator by the first week of September, aiming for a $1.28 billion IPO. - The IPO will be the second-largest for a venture capital-backed company in India, following Paytm, with Swiggy aiming to raise Rs 10,400 crore. - Swiggy's valuation is expected to be around $16 billion, approximately 60% of Zomato's market capitalization, according to sources. - The company confidentially filed documents for the IPO in April and received shareholder approval for a fresh issue of Rs 3,750 crore and an offer for sale worth Rs 6,664 crore. - Swiggy's IPO comes as its rival Zomato has seen significant stock price gains, and the listing will set a valuation benchmark for Swiggy, which needs to achieve profitability to attract investors. Source: [Your Story](https://yourstory.com/2024/08/swiggy-drhp-ipo-first-week-september)