American investor Baron Capital has again cut down Swiggy’s valuation by 10 per cent in March 2023, in addition to the 34 per cent cut it executed in December 2022 filings.
This valuation cut has dropped Swiggy’s valuation to $6.5 billion in Baron Capital’s books. At its peak, Swiggy was valued at $10.7 billion. Similarly, Invesco has cut the food delivery major’s valuation to $5.5 billion in January 2023, from its last valuation of USD 10.7 billion in January 2022.