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Zomato raises Rs 284.42 crore from Glade Brook Capital

Online restaurant discovery and food delivery platform Zomato has raised Rs 284.42 crore from Glade Brook Capital. The US-based investor has been allotted 13,000 class1 compulsory convertible cumulative preference shares. Glade Brook Capital has previously backed global tech companies like Alibaba, Uber, and Airbnb. Zomato had raised $210 million in October led by Ant Financial, an affiliate of China’s Alibaba Group Holding, at a valuation of around $2 billion. Its rival Swiggy had raised $1 billion in December at a valuation of $3.3 billion. While Zomato earned Rs 139.9 crore, Swiggy raked in Rs 420.5 crore in revenues in FY18.

Read More at The Financial Express News date : 7 Feb 2019, Thursday

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