Zomato Starts Priority Delivery Service for Covid Emergency Cases
TheNFAPost Podcast

Info Edge today said its investee firm Zomato Private Limited has closed primary fundraise of USD 250 million from five different investors, including
Tiger Global, Kora, and others.

The food ordering firm now stands valued at $5.4 billion.

“We would like to bring to your knowledge that, Zomato Private Limited has closed primary fundraise of USD 250 million (over Rs 1,800 crore) from five different investors. The transactions valued Zomato at a post-money valuation of USD 5.4 bn,” the company said in a BSE filing.

The investors are – Kora Management LP ($115 million), Fidelity ($55 million) Tiger Global Management LLC ($55 million), Bow Wave Capital Management, LP ($20 million), and Dragoneer Investment Group, LLC ($10 million).

Post this round, Info Edge’s stake in Zomato stands at 18.4 percent. It also has a stake in PolicyBazaar, an insurance aggregating platform.

In January last, Zomato had raised over Rs 1,065 crore at a pre-money valuation of $3 billion. In September last, Zomato had closed the fundraising of about Rs 1,173 crore from Tiger Global and Temasek Holdings subsidiary MacRitchie Investments that valued the firm at $3.3 billion.

Zomato has seen over a two-fold jump in revenues amounting to around Rs 2,960 crore ($394 million) in FY2020 compared to the previous fiscal.

The firm’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) loss was at around Rs 2,200 crore in FY2019-20.

Zomato had earlier stated that it plans to opt for an Initial Public Offering in the first half of 2021.

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