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An HSBC analyst report marked down our valuation from $1 billion to $500 million. For starters, this is very different from all the markdowns so far where investors have marked down their own investments. But given all the media reports, I got a lot of questions from people at Zomato about what's going on. Here's an email I sent to everybody at Zomato (2100 people currently across the world) to allay their concerns and answer their questions. Read on.
Nobody ever sets out to do anything with the intention to fail. But sometimes, achieving success means having to take tough calls - about your business, and your people. It's easier said, but if you know it's the right thing to do, bite the bullet and do what needs to be done.