Swiggy valuation down to $5.5B
Swiggy was valued at $10B a couple of months back. Good luck employees waiting for ESOP buy-back in July 2023. Your shares are now worth half of what it used to be!
Still one of the best startups in India. The valuation doesn’t matter long term
Once ONDC becomes mainstream the ESOP will be worth peanuts.
BREAKING NEWS! ONDC doesn't solve for the Delivery business.
Don't think it is a real threat to Swiggy-Zomato duopoly in food delivery. Early discounts are a norm in any business launch to hype up the space which has happened for ONDC in last couple of weeks. Customer Experience will go for a toss once there are a lot of restaurants on ONDC given no organized solution for delivery.
Breaking news!! ONDC is a platform and not a competitor. Startup founders abound will start using the platform to build solutions that will compete with delivery solutions as well. Hope the message sinks in
This shenanigans will happen in downturn. In long run I don’t see it “vanishing”
It was Invescos internal cut down, wouldn't impact if Swiggy is able to raise at 10 bn$.... but that is tough in current market....so they will not raise mostly
One last round before the IPO ?
https://entrackr.com/2023/05/exclusive-swiggy-in-talks-to-raise-300-mn-in-a-potential-downround/
Is it profitable yet? No, right? It's losses are bigger than that of Zomato. Until it reaches profitability I don't think it will go to IPO
ONDC like govt based initiatives will crumble these food delivery businesses further