CosmicTaco

Meituan Sells $200M Stake in Swiggy Pre-IPO

CosmicTaco · 2024-10-26T09:06:58.828345+05:30

- Chinese platform **Meituan** has sold over **$200 million** of its stake in **Swiggy** to a US investor. - The deal was based on an estimated valuation of **$10 billion** for Swiggy. - Meituan, along with other investors, is reducing its stake ahead of Swiggy's anticipated **public listing**. - Swiggy plans to raise **$450 million** through a fresh issue of shares. - The company reported a **36% increase** in FY24 revenue and cut its net losses by **44%**. Source: [Entrackr](https://entrackr.com/exclusive/exclusive-meituan-sells-over-200-mn-worth-stake-in-swiggy-7362591)

Chinese platform Meituan has sold over $200 million of its stake in Swiggy to a US investor.
The deal was based on an estimated valuation of $10 billion for Swiggy.
Meituan, along with other investors, is reducing its stake ahead of Swiggy's anticipated public listing.
Swiggy plans to raise $450 million through a fresh issue of shares.
The company reported a 36% increase in FY24 revenue and cut its net losses by 44%.