Zomato has raised $660 million in an investment round at the valuation of $3.9 billion. Tiger Global Management, Baillie Gifford, Luxor Capital, Kora Capital, Steadview, D1 Capital and Mirae Asset were the investors who participated in this round.
On top of this $660m, Zomato is in the process of closing a $140m secondary transaction. As part of this transaction, it has already provided liquidity worth $30m to its ex-employees. Transaction details were tweeted by Zomato’s co-founder Deepinder Goyal.
Founded in 2008, Zomato is an Indian restaurant aggregator and food delivery start-up that provides information, menus and food delivery options from restaurants. It also provides reviews of restaurants and has presence in 24 countries and 10000+ cities globally.
Zomato has plans to go public in the near future. This funding round secures it sufficient capital for operation.
Earlier in January 2020, Zomato acquired competitor Uber Eats in an all stock transaction i.e. 9.99% of Zomato at approximate valuation of $350 million for Uber Eats. After the acquisition, Zomato and Swiggy are the only major players in market which gives them high negotiation power.
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