Zomato
-
Business
Swiggy Targets Rs 3,750 Crore in IPO, Set for Major Indian Listing
Swiggy, the food delivery giant backed by SoftBank, announced on Thursday its plan to raise Rs 3,750 crore ($448.56 million) through its upcoming initial public offering (IPO). This move positions the company for one of India’s largest stock market debuts this year. According to Swiggy’s draft prospectus, existing investors such as Accel India and Tencent Europe will offload around 185.3…
Read More » -
Business
Swiggy Reveals Rs 33 Crore Fraud by Former Employee in Annual Report
A former junior employee at Swiggy has allegedly stolen nearly Rs 33 crore over the course of several years, according to the company’s annual report for 2023-24. Swiggy, an online food delivery company based in Bengaluru, revealed the embezzlement in its report and has taken steps to address the issue. According to a report by *Moneycontrol*, Swiggy has hired an…
Read More » -
Business
Paytm Confirms Completion of Event Ticketing Sale to Zomato Amid Strategic Shift
Zomato, a leading food delivery platform, has successfully acquired Paytm’s event ticketing subsidiaries, Wasteland Entertainment Private Limited (WEPL) and Orbgen Technologies Private Limited (OTPL), as confirmed in an exchange filing. These subsidiaries operate the popular ticketing platforms TicketNew and Insider, respectively. According to reports, on June 16, Zomato was in discussions to acquire Paytm Insider as part of its strategy…
Read More » -
Business
Zomato to Acquire Paytm’s Entertainment Business for ₹2,048.4 Crore
The food delivery giant Zomato has announced its plans to acquire Paytm’s entertainment and ticketing business for a whopping ₹2,048.4 crore ($244 million). This strategic move aims to bolster Zomato’s presence in the “going-out” sector, allowing users to book tickets for movies, sports, and events seamlessly. Paytm, facing intense competition, has decided to focus on its core financial services, divesting…
Read More » -
Business
Zomato’s Successful New Year’s Eve Prompts Platform Fee Hike to Rs 4
New Delhi: Following a surge in food orders on New Year’s Eve, Zomato, the food delivery platform, has raised its mandatory platform fee from Rs 3 to Rs 4 per order across key markets. This adjustment came into effect on January 1, with Zomato temporarily increasing the platform fee to Rs 9 per order in specific markets during the festive…
Read More »
