Rapido, a ride-hailing service in India, has seen its valuation double to $2.3 billion following a secondary share sale by Swiggy, which sold its entire 12% stake for approximately $270 million. The stake was acquired by Prosus and WestBridge Capital. This valuation increase comes as Rapido ventures into food delivery, a sector dominated by Swiggy and Zomato. The pilot program for food delivery began in Bengaluru, and Rapido's CEO confirmed the valuation growth. Swiggy's divestment was prompted by potential conflicts of interest as Rapido entered the food delivery market. The competition may pressure existing players to lower commissions, although recent tax changes could limit pricing flexibility. Rapido is recognized as a significant competitor to Uber in India, and Swiggy is expanding its own quick commerce business, Instamart, which has shown rapid growth.