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Zomato is serving its pricey IPO at the time of a cold tech war in India


India’s current rate of spawning unicorns, or startups with at least a billion dollars in valuation, is almost three per month. But all that action is in private markets; practically nothing of the digital economy trades publicly. Which explains the nervous excitement over this week’s initial public offering by one of the country’s two dominant online food-delivery services.
As China cracks down on data-heavy businesses from finance to ride-hailing, Zomato Ltd., backed by Jack Ma’s Ant Group Co., is beefing up its IPO in the Indian market to Rs 93.75 billion ($1.3 billion) because of high demand.
At the top of the indicated price range, the app will have a market value of almost $8 billion, or 45% more than Jubilant Foodworks Ltd., which owns the South Asia franchise of Domino’s Pizza Inc. While Jubilant packs roughly a quarter of its revenue into earnings before interest, tax, depreciation and amortization, Zomato’s operations regularly bleed cash. ....

New Delhi , Mukesh Ambani , Info Edge India Ltd , Facebook Inc , Zomato Ltd , Tata Group , Jubilant Foodworks Ltd , Jack Ma Ant Group Co , Alibaba Group Holding Ltd , Domino Pizza Inc , Alphabet Inc , Twitter Inc , Didi Global Inc , South Asia , While Jubilant , Uber Eats Type , Uber Eat India , Alibaba Group Holding , Jaguar Land Rover , Edge India Ltd , புதியது டெல்ஹி , முகேஷ் அம்பானி , தகவல் விளிம்பு இந்தியா லிமிடெட் , முகநூல் இன்க் , டாடா குழு , மகிழ்ச்சி உணவுப்பணிகள் லிமிடெட் ,

zomato IPO: Zomato serving a hot but pricey IPO during a tech cold war


India’s current rate of spawning unicorns, or startups with at least a billion dollars in valuation, is almost three per month. But all that action is in private markets; practically nothing of the digital economy trades publicly. Which explains the nervous excitement over this week’s initial public offering by one of the country’s two dominant online food-delivery services.
As China cracks down on data-heavy businesses from finance to ride-hailing, Zomato Ltd., backed by Jack Ma’s Ant Group Co., is beefing up its IPO in the Indian market to 93.75 billion rupees ($1.3 billion) because of high demand.
At the top of the indicated price range, the app will have a market value of almost $8 billion, or 45% more than Jubilant Foodworks Ltd., which owns the South Asia franchise of Domino’s Pizza Inc. While Jubilant packs roughly a quarter of its revenue into earnings before interest, tax, depreciation and amortization, Zomato’s operations regularly bleed cash. ....

New Delhi , Mukesh Ambani , Info Edge India Ltd , Facebook Inc , Zomato Ltd , Tata Group , Jubilant Foodworks Ltd , Jack Ma Ant Group Co , Alibaba Group Holding Ltd , Domino Pizza Inc , Alphabet Inc , Twitter Inc , Didi Global Inc , South Asia , While Jubilant , Uber Eats Type , Uber Eat India , Alibaba Group Holding , Jaguar Land Rover , Edge India Ltd , புதியது டெல்ஹி , முகேஷ் அம்பானி , தகவல் விளிம்பு இந்தியா லிமிடெட் , முகநூல் இன்க் , டாடா குழு , மகிழ்ச்சி உணவுப்பணிகள் லிமிடெட் ,