China’s Ctrip Could Make First Bet In Food Biz, Invest $100 Mn In Zomato
The Chinese company with a market capitalization of over $20 billion is expected to pump in close to $100 million into Zomato, valuing the company at $1.8-2 billion
China’s largest travel booking site Ctrip may invest in online food delivery platform Zomato as part of a funding round that could go up to $400 million (close to Rs 2,800 crore), sources told The Times of India.
This will be the first bet in the food business for the Chinese company Ctrip has not been very active in investing in India, with a stake only in MakeMyTrip.
The investment by Ctrip, which has a market capitalization of over $20 billion, will value Zomato at $1.8-2 billion.