SoftBank to drop Zomato, invest in Swiggy instead: Reports
SoftBank has reportedly dropped plans to invest in Gurugram-based foodtech startup Zomato and may invest in its Bengaluru-based rival Swiggy instead. The decision was taken after Swiggy raised money from Chinese e-commerce firm Meituan-Dianping last year and $1 billion from South African conglomerate Naspers last month, reports said. It added Swiggy's founders have already met with SoftBank CEO.