The famous food delivery app gone down in India many places on 22nd of July 2021, from 9:10 PM, when you have very limited access to food delivery app like Zomato and Swiggi it really creates a problem for Zomato Pro Members, definitely this will impact Zomato’s share price, as when the maximum demanded app goes down it a lot of customers trust factor gets affected.
Tomato has recently announced its IPO and Zomato is likely to advance its listing date from July 27 to as early as July 23, However, multiple processes like share allotment, credit of shares and refunds are yet to be closed. The company sold its share in the price band of Rs 72-76 apiece between July 14 and 16 to raise Rs 9,375 crore. The issue received robust investor response at over 38 times subscription.
The Tomato Lovers started twitting on twitter.
There are still no update from tomato team, come back latter for more updates.
Where as the Zomato said that its due to Akamai Technologies, the Content Delivery Partner, which causes this issue.
The Zomato twitted