Big plans
Swiggy is eyeing $800 million IPO early next year, a report said. The IPO hopes to raise the funds to expand its market share amid tough rivalry with Zomato. The company plans to position itself as a logistics company, not just a food delivery firm
Decacorn
Swiggy recently turned decacorn by raising $700 million in a funding round led by Invesco. The funding round valued the food delivery startup at $10.7 billion
Decacorns are privately-held firms that have a valuation of $10 billion or more. Swiggy reported a 27% decline in its 2020-21 (FY21) operating revenue amid covid-induced lockdowns.
