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Swiggy, 2024's biggest tech listing, falls below its IPO price and 2022 valuation | TechCrunch

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Summary
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78% Informative

Indian food delivery company Swiggy ’s stock fell below both its IPO price and its last private valuation of $10.7 billion in 2022 .

The stock fell as low as 374.80 ($ 4.29 ) on Thursday below its November IPO price of 390 , squeezing its market cap to $9.75 billion .

The market share declines came despite efforts to ramp up store expansion and marketing spending.

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90

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semi-formal

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English

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46

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short-lived

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