Swiggy looks to expand basket with Dunzo buy
- ByAyushi Ray | September 1, 2021
Online food delivery platform Swiggy looks to expand basket with Dunzo buy, even as it is in separate discussions with investors to raise a fairly large sum that will double its valuation from about $5.5 billion to $10-12 billion, two people familiar with the deal said. If the deal goes through, it will help Swiggy expand its delivery basket to offer non-food services and help it compete with rival Zomato, which recently listed on the bourses at a valuation of around $13 billion. “Swiggy is in preliminary talks, but there is no definitive agreement signed as yet,” as revealed by an anonymous source.
The firm is raising a large round, which is expected to take its valuation to $10-12 billion. In a written response, Dunzo founder Kabeer Biswas said that his company does not respond to hearsay and that his focus continues to be on the fast growth of the business. There however has been no official statement from Swiggy.
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