Invesco Slashes Swiggy’s Valuation By 25% To $8 Bn
30 October 2024
Months after investing in Swiggy, US-based investor Invesco has reportedly marked down the valuation of the foodtech major by more than 25% to $8 Bn.
As per regulatory documents seen by TechCrunch, Invesco pegged Swiggy at $8 Bn in the quarter that ended September 2022, down from $10.7 Bn in the previous quarter. The markdown came months after Invesco led a $700 Mn round in the foodtech major at a valuation of $10.7 Bn.
Swiggy declined Inc42’s request for a comment on the matter.
According to an ET report, Invesco reportedly valued Swiggy at $4,759 per share in October 2022 versus $6,212 in July 2022, putting Swiggy’s valuation around the $8.2 Bn mark.
With this, Swiggy joins the growing list of Indian new-age tech startups whose valuations have been slashed by investors amid volatile market conditions and weak global cues.
Months after investing in Swiggy, US-based investor Invesco has reportedly marked down the valuation of the foodtech major by more than 25% to $8 Bn. As per regulatory documents seen by TechCrunch, Invesco pegged Swiggy at $8 Bn in the quarter that ended September 2022, down from $10.7 Bn in the previous quarter. The markdown came months after Invesco led a $700 Mn round in the foodtech major at a valuation of $10.7 Bn. Swiggy declined Inc42’s request for a comment on the matter. According to an ET report, Invesco reportedly valued Swiggy at $4,759 per share in October 2022 versus $6,212 in July 2022, putting Swiggy’s valuation around the $8.2 Bn mark. With this, Swiggy joins the growing list of Indian new-age tech startups whose valuations have been slashed by investors amid volatile market conditions and weak global cues.
Stay Connected, Stay Informed –
Don’t miss out on exclusive updates, market trends, and real-time investment opportunities. Be the first to know about the latest unlisted stocks, IPO announcements, and curated Fact Sheets, delivered straight to your WhatsApp.