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Zomato plans to go for an initial public offering in the first half of 2021, its founder and CEO Deepinder Goyal told employees on Thursday. In an e-mail to them, Goyal said: “Our finance/legal teams are working hard to take us to IPO sometime in the first half of next year. The value of our business is going up dramatically, all thanks to the hard work and commitment of our team. We hope to create a lot of value for our current employees who have ESOPs sometime in the next year,” he said.
On fund raising, he said: “We have raised a lot of money, and today, our cash in the bank (around $250 million) is more than ever in our history.” Tiger Global, Temasek, Baillie Gifford and Ant Financial have already participated in the current round, and there are more big names joining the round, he said.
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