Zomato shares soar in red-hot start for first Indian unicorn to go public
CNN
India's first billion-dollar tech startup to go public got off to a flying start on Friday.
Shares in Zomato gained about 80% on their first day of trading on Mumbai's stock exchange, giving the food delivery company a market value of about $13 billion. The listing comes a little over a week after the company launched its IPO to raise $1.3 billion. "India is a tough market to operate in, but if you are building to succeed in India, you are already exceptional," Zomato founder Deepinder Goyal wrote in a blog post Friday. "We are going to relentlessly focus on 10 years out and beyond, and are not going to alter our course for short term profits at the cost of long term success of the company."
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