Comprehension
Read the following passage and answer the questions that follow:
In a boost for Swiggy, its US-based investor Invesco has yet again marked up the startup’s valuation.
Regulatory filings made with the US SEC showed that the asset manager valued the food delivery company at about \(\$8.3\) billion as of October 31, 2023. This is higher than the valuation of \(\$7.8\) billion that Invesco had ascribed the Bengaluru-based firm in its earlier markup at the end of July.
With this recent markup, Invesco has raised the startup’s valuation for a second straight time. The firm held about 2% stake in Swiggy as of November 2023, data sourced from market research firm Tracxn showed. The valuation boost is a positive development for Swiggy, which is understood to be preparing for a public market debut. The latest valuation, however, is lower than the firm’s peak valuation of \(\$10.7\) billion at which it had raised \(\$700\) million from investors led by Invesco in January 2022.
Amid a funding winter and strict investor vigilance, Swiggy had faced valuation markdowns by investors last year, with Invesco having slashed its valuation to \(\$5.5\) billion (as of January 2023)
In a boost for Swiggy, its US-based investor Invesco has yet again marked up the startup’s valuation.
Regulatory filings made with the US SEC showed that the asset manager valued the food delivery company at about \(\$8.3\) billion as of October 31, 2023. This is higher than the valuation of \(\$7.8\) billion that Invesco had ascribed the Bengaluru-based firm in its earlier markup at the end of July.
With this recent markup, Invesco has raised the startup’s valuation for a second straight time. The firm held about 2% stake in Swiggy as of November 2023, data sourced from market research firm Tracxn showed. The valuation boost is a positive development for Swiggy, which is understood to be preparing for a public market debut. The latest valuation, however, is lower than the firm’s peak valuation of \(\$10.7\) billion at which it had raised \(\$700\) million from investors led by Invesco in January 2022.
Amid a funding winter and strict investor vigilance, Swiggy had faced valuation markdowns by investors last year, with Invesco having slashed its valuation to \(\$5.5\) billion (as of January 2023)
Question: 1
The factor that will contribute positively to Swiggy’s public market debut is:
The factor that will contribute positively to Swiggy’s public market debut is:
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In questions asking for contributing factors, focus on elements directly linked to growth or positive developments as stated in the passage.
- Raising funds from investors
- Regulatory filings made with the US SEC.
- Strict investor vigilance
- Valuation markup
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The Correct Option is D
Solution and Explanation
The passage mentions that the valuation boost (markup) is a positive development for Swiggy, especially as it is preparing for its public market debut. This factor would contribute positively to Swiggy's debut.
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Question: 2
Another term used for Invesco in the passage is:
Another term used for Invesco in the passage is:
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Pay attention to descriptive terms used for specific entities in the passage to accurately identify their role.
- Food delivery company
- Startup
- Asset manager
- Market research firm
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The Correct Option is C
Solution and Explanation
Invesco is referred to as an asset manager in the passage, as it is the entity that marked up Swiggy’s valuation.
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Question: 3
Invesco invested in Swiggy in:
Invesco invested in Swiggy in:
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For questions asking about dates, carefully read the passage for specific mentions of the time of events.
- October 2023
- November 2023
- January 2022
- January 2023
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The Correct Option is C
Solution and Explanation
The passage mentions that Invesco led Swiggy’s investment round in January 2022, where Swiggy raised \$700 million.
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Question: 4
The valuation of Swiggy when it took investments was:
The valuation of Swiggy when it took investments was:
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When identifying valuation or financial data, pay attention to when the event took place to match the correct number.
- \$8.3 billion
- \$7.8 billion
- \$10.7 billion
- \$5.5 billion
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The Correct Option is C
Solution and Explanation
Swiggy's peak valuation, when it raised \$700 million from investors led by Invesco, was \$10.7 billion in January 2022.
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Question: 5
The closest synonym for ‘vigilance’ is:
The closest synonym for ‘vigilance’ is:
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When selecting synonyms, focus on words with similar meanings, especially when related to the context in the passage.
- Watchfulness
- Valuation
- Interest
- Resilience
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The Correct Option is A
Solution and Explanation
The closest synonym for “vigilance” in this context is watchfulness, as vigilance refers to careful attention or monitoring.
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