Will Swiggy IPO affect Zomato Stock Performance?

https://www.business-standard.com/amp/markets/news/swiggy-may-file-papers-with-sebi-for-ipo-in-2-weeks-to-raise-rs-8-000-cr-124021401787_1.html

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?

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?

- Zomato's market share in India's food delivery sector has risen to around 55 percent, according to various brokerage firms. - Swiggy, which once dominated with a 52 percent market share in 2020, has seen its share fall to 45 percent. - Zomato's management reported a significant increase in market share in Southern cities during an earnings call. - The company attributes its success to early investments in non-metro cities, despite initial concerns about profitability. - This shift comes as Swiggy prepares for its initial public offering, facing increased competition from Zomato. Source: Moneycontrol

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

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!

Sharing more context on what is driving this in the comments section 👇🏻

This may sound like a dumb question, but why do these companies fire just before the IPO? isn't an IPO a good thing? More cashflow. Shouldn't they be taking care of their employees who made it reach there? What exactly is the thought process behind this mass layoff before IPO?

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