Chinese Ecommerce Behemoth Alibaba Is Also Reportedly In Talks To Back The Online Food Delivery Startup
After solidifying its position in the Indian ecommerce and cab aggregator space, Japanese conglomerate SoftBank is reportedly gearing up for a $200 Mn-$250 Mn investment in foodtech startup, Swiggy. With this, SoftBank has joined Flipkart and China-headquartered Tencent, both of which are holding discussions with the Naspers-backed online food delivery platform for a potential investment.
As per reports, SoftBank is looking to pick up a minority stake in Swiggy, in exchange for $200 Mn-$250 Mn. If successful, the investment would likely take place at a pre-money valuation of $600 Mn-$650 Mn.!function(e,t,s,i){var n="InfogramEmbeds",o=e.getElementsByTagName("script"),d=o[0],r=/^http:/.test(e.location)?"http:":"https:";if(/^\/{2}/.test(i)&&(i=r+i),window[n]&&window[n].initialized)window[n].process&&window[n].process();else if(!e.getElementById(s)){var a=e.createElement("script");a.async=1,a.id=s,a.src=i,d.parentNode.insertBefore(a,d)}}(document,0,"infogram-async","https://e.infogram.com/js/dist/embed-loader-min.js");