In Mamaearth, Peak XV finds its fourth 10x return since Sequoia separation

In the oversubscribed IPO of Mamaearth, Peak XV Partners has found its fourth 10x or greater return within the six months since separating from the Sequoia family. The venture fund is sitting on a 10x

Invesco raises Swiggy’s valuation to nearly $8 billion

Conditions appear to be shifting favorably for India’s Swiggy. The food delivery startup — backed by SoftBank, Prosus and Accel — saw its paper valuation slashed by more than half th

Swiggy’s food delivery business reaches profitability

India’s Swiggy said on Thursday that its marquee food delivery business has become profitable, eclipsing its publicly listed rival Zomato on another key metric a day before the firm is set to re

Zomato shares plunge after Invesco cut rival Swiggy’s valuation

Shares of Indian food delivery firm Zomato ended session on Tuesday at a decline of 6%, hours after it became known that Invesco had cut the valuation of its rival Swiggy. Shares of Zomato ended Tuesd

Invesco cuts Swiggy valuation by half to $5.5 billion

Invesco, which led Swiggy’s previous round, has marked down the Indian food delivery giant’s valuation in its holding to about $5.5 billion, according to a filing. This revised valuation,

Indian food delivery giant Swiggy to cut 380 jobs

Swiggy plans to lay off 380 jobs and shut down its meat marketplace as the Prosus Venture and SoftBank-backed Indian food delivery giant looks to navigate the market downturn that has forced firms to

Yet another Zomato co-founder leaves the firm

Zomato said on Monday its co-founder and chief technology officer Gunjan Patidar has left the firm, the latest in a series of departures at the Indian food delivery firm whose shares have lost over 57

Uber and Amazon blasted for poor working conditions for gig workers in India

Research firm Fairwork India blasted Ola, Uber, Dunzo, PharmEasy and Amazon Flex in a report Tuesday, saying the firms scored zero in its assessment of whether they created fair conditions for their g

Amazon to shut down food delivery business in India

Amazon will shut down its food delivery business in India by the end of the year, the retailer said Friday, retreating from a $20 billion vertical it entered less than three years ago. The retailer wi

Robinhood’s hangover, YC’s reduction and Uber’s return to form

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Alex, Natasha and Mary Ann got together with Maggie this week f

Uber exits Zomato investment for over $390 million

Uber’s ride with Zomato has concluded. The ride-hailing firm sold its 7.8% stake in the lossmaking food delivery firm on Wednesday for over $390 million, a person familiar with the matter said, beco

Uber lost $707 million on Zomato investment in first half of this year, plans to sell entire stake

Uber plans to sell its 7.8% holding in Indian food delivery firm Zomato as early as Wednesday, a source familiar with the matter told TechCrunch. The ride-hailing giant, which acquired a stake in the

Why you have to pay attention to the public markets this week

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Alex and Grace are back to cover the biggest and most intere

Zomato drops to all-time low as lock-in period ends

Updated at 4.15 PM on July 26: Shares of Zomato dropped to as low as 41.25 Indian rupees (52 cents), wiping the company’s market cap to $4.11 billion. Shares of Zomato dropped as much as 14.3% o

Zomato acquires Blinkit for $568 million in instant-grocery delivery push

Zomato has acquired Blinkit, a struggling 10-minute grocery delivery startup, in a $568.1 million all-stock deal as the loss-making food delivery firm looks to broaden its offerings at a time when its

Temasek in talks to invest in Google-backed DotPe

Google-backed DotPe, which helps businesses in India go online and sell digitally, is in advanced stages of talks to raise about $50 million in a new financing round, a source familiar with the matter

Daily Crunch: Better.com CEO Vishal Garg says he’s on the hook for $750M SoftBank loan

Hello friends and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.

Indian food delivery giant Swiggy is acquiring Dineout for $200 million

Swiggy has amassed millions of users in India, helping them order food and grocery online in the country. The seven-year-old startup, India’s most valued food tech, is now looking to reach those

Zomato tumbles below its last private valuation

Indian food delivery firm Zomato’s shares fell below 52 rupees apiece, giving it a market cap of $5.3 billion as tech stocks continue to nosedive across the globe. At a $5.3 billion market cap,

Zepto, a 10-minute grocery delivery app, raises $200 million at $900 million valuation

Instant grocery startup Zepto has raised $200 million in a new financing round as it looks to expand its 10-minute delivery service to more cities in India and grow its network of dark stores. Existin
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