Indian meals supply startup Zomato recordsdata for an IPO – TechCrunch

Indian food delivery startup Zomato files for an IPO – TechCrunch

Indian meals supply startup Zomato on Wednesday filed for an preliminary public providing, turning into the primary tech unicorn startup from the world’s second largest web market to take action in recent times.

The 12-year-old Gurgaon-headquartered Indian startup, which counts Information Edge and Ant Group amongst its buyers, has set $1.1 billion as its IPO measurement and can look to boost about $1 billion by issuing shares, it said in the filing.

Some key insights shared by Zomato within the filling:

    • Zomato has claimed market main place within the meals supply market. The startup recognized Prosus Ventures-backed Swiggy, in addition to restraunts reminiscent of Domino’s, McDonalds and Pizza hut as its competitor. (However not Amazon, which entered the food delivery market last year.)
    • The startup clocked $183.6 million in income between April 1 and December 31. Its losses throughout this era had been $91.8 million.
    • The startup mentioned it has a historical past of web losses, and it anticipates will increase bills sooner or later.
    • Information Edge, one of many largest investor of Zomato, plans to promote stake value $100 million, the funding agency mentioned in a submitting.


It is a growing story. Extra to comply with…

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *