Zomato share price is doing great, expect to see good returns if Swiggy goes public: SoftBank's Masayoshi Son

Swiggy partners with Reliance BP Mobility to build EV ecosystem

Last month, Swiggy had announced the closure of $1.25 billion (approximately Rs 9,345 crore) funding led by SoftBank Vision Fund 2 and Prosus.

Son shared that Swiggy now has over 20 million monthly active users, over 1.25 lakh restaurant partners and fulfills over 1.5 million orders per day. The company has also seen a 2.5x growth in terms of orders per day year on year and 2.8x growth in revenues year on year.

Reuters also quoted the Softbank Vision Fund CFO speaking about "further upside (for Vision Fund I) from listings by Indian payments firm Paytm and insurance aggregator Policybazaar as well as Southeast Asian ridehailer Grab."

Also read: Swiggy discussed 'Order Direct' pilot with NRAI before CCI complaint

Softbank Vision Fund reported a $2 billion profit in the quarter, despite the Chinese crackdown on tech giants, some of which such as Alibaba that Softbank has significant exposure to.

"New regulations are being implemented in China. We will wait and see till things get settled, the new rules will be clearer in 1-2 years," Son said, "We can resume investments in China once things are clear."

Son said Chinese technology giant Alibaba has already paid a penalty under anti-trust law and is complying with new rules.

Also read: Zomato IPO: Delivering the India consumer story on your plate!