Tiger Global Management plans to invest up to $100 million in Zomato

The U.S. based investment company, Tiger Global Management plans to invest up to $ 100 million and pump an additional $ 100 million in Zomato

Advertisement

Tiger Global Management is an investment company that launches capital worldwide on both public and private sectors. The U.S. based investment company, Tiger Global Management, plans to invest up to $100 million and pump an additional $100 million into Zomato in advance of its initial public offering (IPO).

Zomato and Tiger Global have begun tentative negotiations for a combined investment of up to $200 million.

Temasek is one of Zomato’s key investors. While Zomato is planning for a $100 million investment from Singaporean investor Temasek.

According to the sources, the proposed funding of Tiger Global and Temasek is one of the big ticket investments that Zomato is looking to achieve forward for the anticipated IPO next year.

The goal of the company is to maximize the volume of cash raised and to show a consistent road towards productivity, if not overall sales, through the IPO.

Previously, owing to the increasing of anti-China beliefs and the shift in some policies to reject Chinese investment, the Ant-Financial’s investment has been postponed.

The pandemic of Coronavirus has placed a halt to food and beverage industry, as it calls for citizens to try home-care. COVID-19 crisis prompted the food-delivery organization to lay off staff, slash pay and retreat from a number of cities, but has subsequently recast its market, implementing contact less delivery to escape the economic repercussions of the pandemic.