Swiggy’s Major Pre-IPO Development: What’s the Big News?
Swiggy, one of the leading companies in the food and grocery space, has declared one of the biggest ESOP (Employee Stock Option Plan)liquidity programs to date. The company has announced that it will offer ESOP liquidity to more than 2,000 employees across all departments and levels before launching its IPO. This program allows employees to…
abhinav singh
Zomato Faces ₹402 crore Show Cause Notice Over Unpaid GST
The Indian food delivery giant, Zomato, on Wednesday received a show cause notice from the Directorate General of GST over non-payment of GST. The show cause notice was sent to the Gurugram-based food aggregator, demanding the company to answer why they haven’t paid a tax of over ₹402 crore on the food delivery charges along…
Shipra Prajapati
Restaurants Raised Discounts To Fend Off Swiggy & Zomato
Large restaurants have increased discounts and promotional offers by 15-20% on their own apps to compete with aggregators like Swiggy and Zomato. This step is taken to reduce the steep commission and search optimisation fees being charged by the aggregators and lower the dependence on them, the industry executives said. India’s largest quick-service chain, Domino’s…
Swiggy Crossed $10.7 Billion Valuation After Raising $700 Million in Invesco
Food delivery giant, Swiggy, has raised $700 million in Invesco and crossed a $10.7 bn valuation, according to the sources. Swiggy’s latest valuation is almost double to Zomato before the latter went for its initial public offering. Zomato was valued at $5.4 billion before its IPO. With this new funding, Swiggy also came closer to…
John David