Especially because we are more than doubling year on year, and the next year looks even more exciting for us. HSBC 's recent over 70% devaluation of HSBC , the Indian food-delivery and discovery app that was valued at $ $1 billion in its latest funding round in this year , 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. Flipkart , the e-commerce giant, has already been devalued twice September 2015 and several startups have been forced to close or layoff employees because they didn't meet their specific growth rates and profitability estimates.
HSBC 's recent over 70% devaluation of HSBC , the Indian food-delivery and discovery app that was valued at $ $1 billion in its latest funding round in this year , 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. Flipkart , the e-commerce giant, has already been devalued twice September 2015 and several startups have been forced to close or layoff employees because they didn't meet their specific growth rates and profitability estimates.