Correct Answer : Option (B) - $10.7 billion
Food-ordering and instant grocery delivery platform, Swiggy has signed a $700 million funding round led by asset manager "Invesco". With this, the total valuation of Swiggy has reached to $10.7 billion i.e. it is now a decacorn.
Swiggy’s latest valuation is almost double that of
Zomato before the latter went for its initial public offering. Zomato was valued at
$5.4 billion before its IPO.
Bengaluru-based Swiggy has overtaken budget hospitality company Oyo, whose valuation dropped to $8 billion in 2020 from $10 billion in 2019, and then increased to $9 billion in 2021.
Swiggy has overtaken sports technology company Dream Sports, the parent firm of fantasy sports platform Dream11.
Source : Business Standard
Published On : January 25, 2022
Category : Business and Economics
