Indian food delivery startup Zomato files for an IPO – ClearTips

Indian food delivery startup Zomato applied for an initial public offering on Wednesday, becoming the first Tech Unicorn startup from the world’s second-largest Internet market to do so in recent years.

The Gurgaon-headquartered Indian startup, which counts Info Edge and Ant Group among its investors, has earmarked $ 1.1 billion as the size of its IPO and will raise about $ 1 billion by issuing shares.

Some key insights shared by Zomato in filling:

    • Zomato has claimed market leading position in the food delivery market. The startup identified Process Ventures-supported Swiggy, as well as restraints such as Domino’s, McDonald’s and Pizza Hut as its competitors. (But not Amazon, which entered the food delivery market last year.)
    • The startup generated $ 183.6 million in revenue between April 1 and December 31. Its losses during this period were $ 91.8 million.
    • The startup said it has a history of net loss, and it anticipates an increase in expenses in the future.
    • Info Edge, one of Jomato’s largest investors, plans to sell a $ 100 million stake, the investment firm said in a filing.

This is a developing story. More to follow…

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