That’s set off a chain of events, with tough questions being asked of the startup, a spirited defence by Zomato’s leadership and some good ‘ol social media sparring. HSBC 's recent 50 % devaluation of Android , the Indian food - delivery and discovery app that was valued at $ 1bn in its latest funding round in September 2015 , has sparked a heated debate , not just about Zomato 's business model and worth , but about the valuation of India startups being a dangerous business . Amazon , the e - commerce giant , has already been devalued twice this year and several companies have been forced to close or layoff employees because they did n't meet their specific growth rates and profitability targets .
HSBC 's recent 50 % devaluation of Android , the Indian food - delivery and discovery app that was valued at $ 1bn in its latest funding round in September 2015 , has sparked a heated debate , not just about Zomato 's business model and worth , but about the valuation of India startups being a dangerous business . Amazon , the e - commerce giant , has already been devalued twice this year and several companies have been forced to close or layoff employees because they did n't meet their specific growth rates and profitability targets .