HSBC ANALYST REPORT

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Our Investors Are Bullish: Zomato CEO Responds To HSBC Mark-Down

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.