- If the deal goes by means of, it should assist Swiggy increase its supply basket to supply non-food providers and assist it compete with rival Zomato, which just lately listed on the bourses at a valuation of round $13 billion.
By Ranjani Raghavan, Tarush Bhalla, Bengaluru
PUBLISHED ON SEP 01, 2021 07:28 AM IST
Meals ordering platform Swiggy is in preliminary talks to amass hyperlocal supply providers startup Dunzo whilst it’s in separate discussions with buyers to lift a pretty big sum that can double its valuation from about $5.5 billion to $10-12 billion, two folks conversant in the deal stated.
If the deal goes by means of, it should assist Swiggy increase its supply basket to supply non-food providers and assist it compete with rival Zomato, which just lately listed on the bourses at a valuation of round $13 billion.
“Swiggy is in preliminary talks, however there is no such thing as a definitive settlement signed as but,” one of many two folks stated on situation of anonymity. The agency is elevating a big spherical, which is anticipated to take its valuation to $10-12 billion, the second individual stated, additionally requesting anonymity.
In a written response, Dunzo founder Kabeer Biswas stated that his firm doesn’t reply to rumour and that his focus continues to be on the quick progress of the enterprise. An e mail despatched to Swiggy went unanswered on the time of going to press.
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