The IPO parade that has continued in 2021 is not a strictly domestic affair. Other countries are getting in on the unicorn liquidity rush.
The Zomato IPO is incredibly important. As our own Manish Singh reported when the company’s numbers became public, a “successful listing [could be] poised to encourage nearly a dozen other unicorn Indian startups to accelerate their efforts to tap the public markets.” So, Zomato’s debut is not only notable because its impending listing gives us a look into its economics, but because it could lead to a liquidity rush in the country if its flotation goes well.
At this point, we’ll pause and note that India is currently enduring a COVID-19 surge that may be without precedent. You can provide help here. May the pandemic abate quickly and with as little pain as possible.
Back to Zomato: The company’s IPO filing paints the picture of a quickly growing company derailed by the pandemic. However, the unicorn has posted rapid recovery in recent quarters, and its economics are maturing to the point when it can begin to craft a path to long-term profitability. This morning, let’s dig into its numbers and try to sort out why the company (Read more...)