After completing 250 million financing, Indian unicorn Zomato plans to apply for IPO in April

Recently, foreign media reported that India's food search engine ZoMaTo may submit an IPO application next month , with a fundraising scale of approximately US$650 million.

ZoMaTo could complete its listing in Mumbai by the end of September, Bloomberg reported, citing people familiar with the matter .

However, at present, the specific time of ZoMaTo's listing and the scale of fundraising have yet to be determined, and ZoMaTo has not made a clear response.

ZoMaTo is a search engine site that provides users with Indian food searches. It was founded in 2008 and provides menus of more than 30,000 Indian restaurants across 10 cities. Currently , the site has launched BlackBerry, iOS, Android and Windows Phone applications .

In October 2018, Zomato and Alibaba-related company "Alipay Singapore Holdings" signed a formal agreement, with Alibaba investing US$210 million.

In the past two years, Zomato 's revenue data has also attracted a lot of attention. Data shows that Zomato's operating income increased from 13.26 billion rupees in fiscal 2019 to nearly 26.05 billion rupees in fiscal 2020.

This time, Zomato plans to conduct an initial public offering in April , which may help it raise $650 million.

Just last month, Zomato raised $250 million from five investors. The company raised $115 million from Kora Management LP, $55 million from funds or accounts advised or advised by Fidelity Management & Research Company LLC and its affiliates, $50 million from Tiger Global Management, LLC, $20 million from Bow Wave Capital Management, LP , and $10 million from Dragoneer Investment Group, LLC.

Zomato was valued at $ 5.4 billion after its first round of funding . Last September, Zomato raised $160 million from Tiger Global and MacRitchie Investments, a subsidiary of Temasek Holdings, which valued it at $3.3 billion.

Zomato's IPO is expected to value the company at $8 billion on the public markets.

The Times of India stated that the outbreak of the epidemic has caused a large number of Indian consumers to shift their demand online, which has created good opportunities for online platforms such as Zomato, enabling its IPO plans to proceed smoothly.

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