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Zomato is an Indian multinational restaurant aggregator and food delivery company founded by Deepinder Goyal and Pankaj Chaddah in 2008. Zomato provides information, menus and user-reviews of restaurants as well as food delivery options from partner restaurants in select cities. As of 2019, the service is available in 24 countries and in more than 10,000 cities.
Swiggy is an Indian online food ordering and delivery platform. Founded in July 2014, Swiggy is based in Bangalore and operates in 500 Indian cities as of September 2021. Besides food delivery, Swiggy is also provides on-demand grocery deliveries under the name Instamart, and an same-day package delivery service called “Swiggy Genie”.
Rakesh Jhunjhunwala (5 July 1960 – 14 August 2022) was an Indian billionaire business magnate, stock trader, and investor. He began investing in 1985 with a capital of ₹5,000, with his first major profit in 1986. At the time of his death he had an estimated net worth of $5.8 billion, making him the 438th richest person in the world. He was a partner in his own asset management firm, Rare Enterprises. Besides being an active investor, he served as chairperson and director for several companies. He was also a founder of Akasa Air. He was investigated for insider trading and settled with the Securities and Exchange Board of India (SEBI) in 2021. Jhunjhunwala was often referred to as “India’s Warren Buffett” or the “Big Bull of India”, and was widely known for his stock market predictions and bullish outlooks.
The post Dark Side of Zomato | Did Rakesh Jhunjhunwala exposed Zomato Valuation SCAM ? | Business Case Study appeared first on HumanitasConnects.
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