Shares of Indian food delivery giant Zomato soars on its market debut to give it a valuation of $13.4B following a $1.3B IPO
Many are struggling to recruit qualified employees, with some reportedly offering incentives such as free motorbikes and tickets to cricket matches to lure talent.
This year is set to be India's best for IPOs. Others set to list include digital payments firm Paytm, backed by Japan's SoftBank and Ma.Zomato for instance, which operates in 525 Indian cities, is yet to turn profitable and reported a loss of $109.5M in the financial year ending March 2021. "We are going to relentlessly focus on 10 years out and beyond, and are not going to alter our course for short-term profits at the cost of long-term success of the company," Zomato's chief executive Deepinder Goyal said Friday.
On the day of our listing, here’s something I want to share with our shareholders, and India’s startup ecosystem. The future looks exciting. I don’t know whether we will succeed or fail – we will surely, like always, give it our best.
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