Swiggy Faces Losses Ahead of IPO Dreams

  • Popular food delivery platform Swiggy is reportedly facing a $200 million loss for the nine months leading up to December 2023, according to internal documents.
  • This news comes as Swiggy prepares for a potential Initial Public Offering (IPO) to list its shares on the stock market.
  • Despite the losses, Swiggy remains a major player in India's competitive food delivery market.
  • The company, backed by SoftBank, had a valuation of $10.7 billion in 2022.
  • Swiggy's total loss for the entire fiscal year 2022-23 was a significant $500 million.

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