Uber rival Rapido doubles valuation to $2.3B following Swiggy stake sale
Rapido, a popular ride-hailing platform in India that competes with Uber, has doubled its valuation to $2.3 billion following a secondary share sale by food delivery giant Swiggy. The share sale comes just weeks after Rapido began piloting food deliveries, edging into Swiggy’s core territory. Swiggy has offloaded its entire 12% stake in Rapido for ₹24 billion (about $270 million) through two separate deals, according to regulatory filings. Around 10% of the stake is being acquired by Prosus for