Unicorn · Commerce & Consumer Brands

Swiggy valuation dips to $14.74 billion

By Startup Enthusiast · 23 August 2024

What they do

Swiggy runs an online food delivery and quick-commerce platform in India

Baron Capital marked Swiggy's valuation at $14.74 billion as of June 2024, down from $15.1 billion in March

The dip is due to rupee depreciation; Swiggy is preparing for a $1.25 billion IPO

Baron Capital valued Swiggy at $14.74 billion as of June 2024.
This is down from $15.1 billion in March 2024.
The valuation drop is attributed to rupee depreciation.
Another investor, 360 One WAM, valued Swiggy at $11.5 billion as of June 2024.
Swiggy is preparing for an IPO and has filed papers confidentially with SEBI.
Shareholders approved a $1.25 billion IPO with a fresh issue of up to ₹3,750 crore ($450 million).
The IPO includes an offer for sale of up to ₹6,664 crore ($800 million).

Swiggy's order growth in July 2024 was -4.6% month-on-month and 11% year-on-year.
Rival Zomato's order growth was +1.6% month-on-month and 29% year-on-year.
Zomato is valued at $28.3 billion and reported a profit of ₹253 crore in Q1 FY24.
Swiggy reported a loss of ₹1,600 crore on revenue of ₹5,476 crore in the first three quarters of FY24.

Swiggy operates an online food delivery platform in India.
It also runs a quick-commerce service called Instamart.
The company makes money by charging commissions from restaurants and delivery fees from customers.
It competes with Zomato in food delivery and with Zepto and Blinkit in quick commerce.
Swiggy has enabled over ₹1,000 crore in ESOP liquidity across five events.
Over 3,200 employees have benefited from ESOP liquidity programmes.

Baron Capital (investor) — US-based investment firm that marked Swiggy's valuation.
360 One WAM (investor) — Indian wealth and asset manager that valued Swiggy at $11.5 billion.