Softbank is hopeful that it's investment in food delivery giant Swiggy can deliver the same if not better returns that the blockbuster debut of Zomato.
SoftBank’s founder Masayoshi Son in a post earnings call with analysts said "If they go public, I believe that we will be able to see good returns from here too. That's our expectation.” Son also noted that Zomato’s share price was doing “great” after its listing.
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In a presentation on Tuesday, SoftBank chief said that Swiggy was clocking 1.5 million orders a day and that it had around 20 million monthly active users. Describing the company as a “convenience delivery platform, “he said Swiggy’ s revenue grew 2.8 times between June 2020 and June 2021 while daily orders increased 2.5 times.Son however did not provide revenue figures for Swiggy.
Softbank led $1.25 billion fund raising for Swiggy last month just ahead of Zomato's listing.
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