Swiggy's valuation in it's best shape before the impending IPO

- Swiggy has launched a $65 million ESOPs liquidity programme, marking its fifth such event since 2018. - Employees across various levels can now receive liquidity for their ESOPs in the secondary market. - This is the third consecutive ESOP liquidity event following those in July 2022 and 2023. - Swiggy has enabled over Rs 1,000 Cr of ESOPs liquidity, benefiting 3200 employees over five events. - The announcement comes as Swiggy prepares for its IPO, with plans to raise approximately $1.25 billion. Source: Entrackr

- Invesco valued its 28,844 shares of Swiggy at $219.2 Mn as of April 2024, translating to a $12.3 Bn valuation for the foodtech company. - Pine Labs' valuation was pegged at $3.5 Bn at the end of April 2024, down from $3.8 Bn in January 2024. - The valuation cuts come as Swiggy prepares for its $1.25 Bn IPO, having filed its draft red herring prospectus with SEBI. - Despite the cuts, Swiggy's latest valuation is still 15% higher than its $10.7 Bn valuation during its $700 Mn decacorn round in 2022. - The valuation adjustments follow a period of funding challenges and losses for Indian unicorns, though investor sentiment has recently improved. Source: Inc42

Swiggy was valued at $10B a couple of months back. Good luck employees waiting for ESOP buy-back in July 2023. Your shares are now worth half of what it used to be! https://www.moneycontrol.com/news/business/invesco-cuts-swiggys-valuation-to-5-5-bn-2nd-markdown-in-4-months-10549051.html

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

- 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 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?

"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.

Food tech market is 50B+ ( duopoly) Most of my friends use swiggy for everything like food, groceries and dine out. They say Zomato sucks in ui ux and 3rd grade restaurants are there at Zomato, swiggy is better at offers and quality restaurants. Zomato peak stock value was 180inr, which makes it a 15B firm, by that logic swiggy can get even 20B ipo. PS - Baron capital already raised swiggy valuation to 13.9B usd What do u think guys?