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Zomato’s IPO, one of the biggest things to have ever happened in the Indian startup culture, was a massive success. Not only was the offering oversubscribed by a vast amount, the company was also set to list shares earlier than expected. Contrary to what was being thought earlier, Zomato’ shares are set to list tomorrow. However, at the worst time possible, the app has suffered an outage, which has invited criticism (as well as humor) from the masses.

This can prove to be disastrous for the company and its shareholders, who have been actively waiting for the share listing ever since the IPO concluded on July 16th.

The company had placed a price tag of ₹72-76 on its shares at the IPO, placing its valuation well above $8Bn. With such a hefty valuation, there is a lot of pressure on the organization, with many experts concluding that the company was overvalued for the public markets.

Nonetheless, investors have placed their confidence in the food delivery platform, and thus, an event like this could jeopardize early earnings.

Downdetector shows that the issue started around 9pm on 22nd July, with users complaining about the app being down while their orders were in the pipeline.

We will update this article with more information soon.

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