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Swiggy rides out of Rapido; Festive fervour hits ecomm
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Happy Wednesday! Swiggy is selling its entire stake in Rapido, following the latter’s foray into food delivery. This and more in today’s ETtech Morning Dispatch.
Also in the letter:
■ Lending startups feel funding squeeze
■ Blinkit tops qcomm ranks
■ Rakesh Ranjan’s new gig
Swiggy to sell Rapido stake to Prosus, WestBridge Capital for Rs 2,400 crore
Ride-hailing firm Rapido is closing in on a $500–550 million funding round, making it one of the biggest deals for a venture-backed startup this year.
Deal details:
- Around $300 million will be…
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