Food delivery giant Swiggy s COO Vivek Sunder decides to move on business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
AlleyWatch
Swiggy
Bangalore-based Swiggy is a food ordering and delivery company that provides food service solutions for restaurants. Founded in 2014 by Nandan Reddy, Rahul Jaimini, and Sriharsha Majety, Swiggy is backed by investors that include DST Global, Meituan-Dianping, Naspers, Norwest Venture Partners, and Tencent Holdings.
FOUNDED:2014
FOUNDERS:Nandan Reddy, Rahul Jaimini, Sriharsha Majety
Armed with some data from our friends at CrunchBase, I broke down the largest startup funding rounds globally during the month of December. I have included some additional information such as industry, round type, a brief description of the company, and total equity funding raised for the company to further the analysis. Interested in the top NYC fundings? The Largest […]
[Funding alert] SoftBank in talks to invest around $450M in Swiggy; valuation to rise to $5B
Swiggy CEO Sriharsha Majety announced the likely deal in an email sent to employees earlier in April, which pegs the startup s valuation at $5 billion.
0 claps
Share on
SoftBank is in advanced talks on investing around $450 million (around Rs 3,348 crore) in the food ordering and delivery platform
Swiggy.
The deal is likely to peg the valuation of Bengaluru-based firm at $5 billion, sources familiar to the development said.
The food delivery startup had earlier announced an investment of
$800 million (around Rs 5,862 crore) by
Falcon Edge Capital, Amansa Capital, Think Investments, Carmignac, and Goldman Sach.
COIN Banega Crorepati
SUBSCRIBE
We ll soon meet in your inbox. / Unwrapped
It s Zaheer.
Coinbase, the world s second-largest cryptocurrency exchange, went public on the Nasdaq this week. Not bad going for a company that began life in a loft and deals in what John Oliver once described as “everything you don t understand about money, combined with everything you don t understand about computers”.
Coinbase drags crypto into the mainstream
In September 2017, Bloomberg reported that Jamie Dimon, then chief executive of JPMorgan Chase & Co, called Bitcoin a “fraud” and said he would fire any employee trading it for being “stupid”.
Earlier this week, Coinbase, the largest cryptocurrency exchange in the US, went public with a direct listing on the Nasdaq.
The investment is expected to value the Bengaluru-based Swiggy at a little over $5 billion. (Representative image)
BENGALURU: After waiting in the wings for the last few years, SoftBank CEO Masaysohi Son seems to be close to taking a bet on India’s online food delivery market.
SoftBank’s Vision Fund 2 is in advanced stages of talks to invest around $400-500 million in Swiggy, two people close to the development said.
The investment is expected to value the Bengaluru-based Swiggy at a little over $5 billion. It would be on top of the $800 million Swiggy raised earlier this month, which TOI reported about in its April 6 edition.