Relevance is often tied to rarity. As a result, the first anything — whether a birthday, scientific feat or female vice president — comes with its own weight. Whether that pressure is warranted is a discussion in and of itself, but today, we’ll focus on the ripple effects of India’s first unicorn IPO: Zomato.
Food delivery startup Zomato, set to start trading public shares next week, has been labeled by journalists and industry experts as India’s biggest tech public offering to date. The company could be valued at up to $8.6 billion in its public debut, and early indications of investor interest were strong.
As my colleagues Alex Wilhelm and Anna Heim put it in their column, the eventual performance of Zomato will be watched by Paytm and MobiKwik, two Indian fintech unicorns also looking to go public soon, the some 100 Indian unicorns, and, of course, returns-focused venture capitalists. The success of the startup could lead to more venture funding, exits down the road, and overall, highlight a milestone for growth investments amid legislative and regulatory tension.
While the pressure is on for Zomato not to get squashed by the public markets, it’s not …read more
Source: Tech Crunch