Swiggy suffers another markdown, Baron Capital cuts valuation to $6.4 billion from $10.7 billion
29 October 2024
Valuation markdowns for Zomato-rival Swiggy continue, with Baron Capital becoming the latest investor to slash the value of its holding in the food and grocery delivery company.
The US-based investor has cut the value of its stake in Swiggy by 40 percent to about $45 million as against the investment value of $76 million, as per the investment firm's quarterly report for Q1 2023.
Baron Capital entered the cap table as a new investor in Swiggy's previous fundraise of $700 million in Series K at a valuation of $10.7 billion in January 2022. Now, the markdown implies a drop in Swiggy's overall valuation to $6.4 billion.
In its report for Q4 2022, Baron had reduced Swiggy's valuation by 34 percent as against the investment value, seeing the overall valuation at about $7 billion.
Valuation markdowns for Zomato-rival Swiggy continue, with Baron Capital becoming the latest investor to slash the value of its holding in the food and grocery delivery company. The US-based investor has cut the value of its stake in Swiggy by 40 percent to about $45 million as against the investment value of $76 million, as per the investment firm's quarterly report for Q1 2023. Baron Capital entered the cap table as a new investor in Swiggy's previous fundraise of $700 million in Series K at a valuation of $10.7 billion in January 2022. Now, the markdown implies a drop in Swiggy's overall valuation to $6.4 billion. In its report for Q4 2022, Baron had reduced Swiggy's valuation by 34 percent as against the investment value, seeing the overall valuation at about $7 billion.
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