Vanguard has reduced Ola's valuation by 35% to $4.8 billion from its peak value $7.4 billion. PharmEasy, for instance, spent Rs 494 crore on advertising and promotional activities during FY22, up from Rs 134 crore in FY21, according to the ROC filings. Bundle technology, the parent company of Swiggy, spent Rs 1,840 crore in FY22, almost a four-fold increase from Rs 570 crore in FY21. From a media and advertising perspective, this setback can be seen as a temporary obstacle before a significant leap forward,” Solanki adds. However, cut in valuation cannot now stop these brands from advertising as businesses need constant investment in a going concern.

Source: Hindustan Times May 22, 2023 09:18 UTC