What Zomato’s $12 Billion IPO Says About Tech Companies Today

In mid-July, Zomato, a food delivery company, listed its shares in Indian stock markets. Its initial public offering (IPO) was oversubscribed 35 times, giving it a valuation of $12 billion. Why does a loss-making company — with no real properties or assets — command such high valuation and attract global celebrity investors like Fidelity, Morgan Stanley, Canadian Pension Fund, and the Singapore Government?
Read more: https://hbr.org/2021/08/what-zomatos-12-billion-ipo-says-about-tech-companies-today?ab=hero-main-text?source=Snapzu