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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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Indian food delivery startup Swiggy raises $1.25 billion from SoftBank, Prosus

07/20/2021 | 04:39am EDT

BENGALURU (Reuters) - Indian food delivery startup Swiggy said on Tuesday it has raised $1.25 billion in a funding round led by SoftBank's Vision Fund 2 and technology investor Prosus as foreign funds raise their stake in local internet-based consumer firms.

After the fund infusion, Swiggy will be valued at $5.5 billion, technology news site TechCrunch reported. Swiggy did not immediately respond to Reuters request for comment on its latest valuation. (https://tcrn.ch/36NFNGI)

Goldman Sachs and Qatar Investment Authority were also among the notable investors in the latest fundraise.

Last week, rival Zomato, backed by China's Ant Group, drew bids worth $46.3 billion in a stock offering that was oversubscribed more than 38 times.

Swiggy had raised $800 million in April earlier this year, according to local media.

Home delivery companies in India were hit by a sudden pandemic-related lockdown last year due to doubts about how the virus is transmitted. But as initial hesitancy in ordering in eased with customers avoiding going out to eat, both Zomato and Swiggy saw a rise in delivery orders.

"The scope of food delivery in India is massive and over the next few years we will continue to invest aggressively into growing this category," Sriharsha Majety, chief executive officer at Swiggy, said.

The Bengaluru-based firm has forayed into the online grocery delivery through Instamart in the past year. It has also widened its pick-up and drop service, Swiggy Genie, which competes with the Google-backed hyperlocal courier startup Dunzo.

(Reporting by Shivani Singh in Bengaluru; Editing by Arun Koyyur)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -0.80% 2821.44 Delayed Quote.60.98%
PROSUS N.V. -0.39% 69.76 Real-time Quote.-20.76%
SOFTBANK GROUP CORP. -0.05% 6624 End-of-day quote.-17.80%
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Analyst Recommendations on SOFTBANK GROUP CORP.
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Financials
Sales 2022 6 040 B 54 259 M 54 259 M
Net income 2022 1 310 B 11 766 M 11 766 M
Net Debt 2022 14 983 B 135 B 135 B
P/E ratio 2022 9,10x
Yield 2022 0,66%
Capitalization 11 348 B 102 B 102 B
EV / Sales 2022 4,36x
EV / Sales 2023 4,13x
Nbr of Employees 58 786
Free-Float 69,3%
Chart SOFTBANK GROUP CORP.
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SoftBank Group Corp. Technical Analysis Chart | 9984 | JP3436100006 | MarketScreener
Technical analysis trends SOFTBANK GROUP CORP.
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 15
Last Close Price 6 624,00 JPY
Average target price 10 325,87 JPY
Spread / Average Target 55,9%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
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