Zomato's valuation marked up to $865 mn by Jefferies

US-based equity research firm Jefferies has marked up food discovery startup Zomato's valuation from $500 million to $865 million. According to its report, the current growth rate will likely lower Zomato's losses by 9.7% in the fiscal year ending in March 2018. The startup's revenue is expected to increase two-fold to $25.4 million during 2017-18, the report stated.