HSBC's recent 50% devaluation of Zomato, 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 bubble. So it makes it difficult to believe that with Rs97 crore ($14 million) of revenues, the company is valued at $1 billion.” The debate is particularly relevant as India's startup scene continues to grow rapidly.
HSBC's recent 50% devaluation of Zomato, 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 bubble. The debate is particularly relevant as India's startup scene continues to grow rapidly.