Powered by: Motilal Oswal

News

Maintaining trust, governance key for digital ecommerce ecosystem: ONDC CEO Open Network for Digital Commerce (ONDC) CEO T. Koshy on Wednesday said that maintaining governance and trust building is the key for the digital commerce ecosystem in the country and ONDC has achieved this task.  Addressing the Global Fintech Fest 2023 (GFF 2023) here with Noopur Chaturvedi, CEO, NPCI Bharat BillPay Limited and Suresh Sethi, MD and CEO, Protean eGov Technologies, Koshy emphasised that ONDC comes in as a network administrator. “We facilitate a lot more transp...
Maintaining trust, governance key for digital ecommerce ecosystem: ONDC CEO
Maintaining trust, governance key for digital ecommerce ecosystem: ONDC CEO
Source: IANS
6/09/2023 12:52:23 PM
Governments ONDC reaches 50K restaurants, takes on Zomato-Swiggy dominance Giving a tough fight to Zomato-Swiggy dominance in online food delivery market, Open Network for Digital Commerce (ONDC), an initiative of the government, on Monday said that 50,000 restaurants are now live for placing online orders on the Open Network, across 172 cities. The number of restaurants on the Open Network shot up from 500 in February 2023 to 50,000 in August 2023, depicting exponential growth. “What started with our first order in September 2022, the Network has onboar...
Governments ONDC reaches 50K restaurants, takes on Zomato-Swiggy dominance
Governments ONDC reaches 50K restaurants, takes on Zomato-Swiggy dominance
Source: IANS
28/08/2023 2:02:46 PM
Indian food delivery firm Swiggy restarts IPO plans, aims for 2024 listing Swiggy, the Softbank-backed food delivery company, is eyeing a 2024 stock market listing and has initiated talks with bankers to assess its valuation, after halting the process for months due to weak markets, three sources with direct knowledge of the matter said. Swiggy, which delivers food from restaurants and also groceries, was valued at $10.7 billion in its last fundraising in 2022 but like many Indian startups put its IPO plans on hold amid a funding crunch and investor concerns abou...
Indian food delivery firm Swiggy restarts IPO plans, aims for 2024 listing
Indian food delivery firm Swiggy restarts IPO plans, aims for 2024 listing
Source: Reuters
26/08/2023 9:53:57 AM
Gogoro partners with Swiggy to provide smart scooters to delivery partners Global technology leader in battery-swapping ecosystems, Gogoro on Thursday announced an electric vehicle (EV) partnership with online food-delivery platform Swiggy. Under this partnership, Gogoro will provide its smart scooters and battery-swapping infrastructure for Swiggy’s delivery fleet in the country. “Accelerating the electric transformation of India’s hyperlocal fleets is a top priority for Gogoro and India’s national and city governments. Partnering with...
Gogoro partners with Swiggy to provide smart scooters to delivery partners
Gogoro partners with Swiggy to provide smart scooters to delivery partners
Source: IANS
17/08/2023 2:05:04 PM
Times Prime and Haldiram`s Collaborate to Deliver over 4,000 kgs of Ladoos to celebrate Azaadi Ka Tyohar with Swiggy Instamart To celebrate India’s 76th Independence Day, Times Prime, country’s premier digital membership program, has joined hands with Haldiram’s, to spread the joy of ‘Azaadi Ka Tyohar’ by delivering over 4,000 kgs of traditional delectable ladoos. This unique collaboration is set to delight customers, as the festivities find a delicious expression through Swiggy Instamart's seamless delivery network.   Under the collaboration, customers who place an order ...
Times Prime and Haldiram`s Collaborate to Deliver over 4,000 kgs of Ladoos to celebrate Azaadi Ka Tyohar with Swiggy Instamart
Times Prime and Haldiram`s Collaborate to Deliver over 4,000 kgs of Ladoos to celebrate Azaadi Ka Tyohar with Swiggy Instamart
Source: PR Agency
11/08/2023 5:36:40 PM
PayU sells its GPO biz to Rapyd for $610 mn, sets eyes on India Global investment group Prosus on Tuesday said that Rapyd, a leading Fintech-as-a-Service provider, is acquiring its digital payments business PayU's Global Payments Organisation (GPO) for $610 million in an all-cash deal. The transaction, said the company, will enable PayU to focus on the large payments and fintech opportunity in India, where it is the leading payments provider, serving more than 450,000 merchants and over 2 million credit customers. PayU's GPO business provide...
PayU sells its GPO biz to Rapyd for $610 mn, sets eyes on India
PayU sells its GPO biz to Rapyd for $610 mn, sets eyes on India
Source: IANS
1/08/2023 12:55:50 PM
Swiggy launches credit card with HDFC Bank Online food-delivery platform Swiggy and private sector HDFC Bank on Wednesday announced the launch of the Swiggy HDFC Bank co-branded credit card. The co-branded credit card, the first ever from Swiggy, will be hosted on Mastercard’s payment network. The credit card will provide cardholders rewards and benefits across various online platforms, including Swiggy, according to the company. “We recognise that modern-day consumers actively seek rewards, offers, and cashback p...
Swiggy launches credit card with HDFC Bank
Swiggy launches credit card with HDFC Bank
Source: IANS
26/07/2023 3:50:51 PM
Swiggy initiates 2nd tranche of ESOP liquidity totalling $50 mn Online food-delivery platform Swiggy on Monday announced the second milestone in its committed two-year employee stock ownership plans (ESOP) liquidity programme, in which its employees will have the option to receive liquidity totalling up to $50 million against their ESOPs. This event will also see eligible employees from Dineout which Swiggy acquired last year participate. Swiggy, which announced turning EBITDA positive in its food delivery business as of March successfully integrate...
Swiggy initiates 2nd tranche of ESOP liquidity totalling $50 mn
Swiggy initiates 2nd tranche of ESOP liquidity totalling $50 mn
Source: IANS
24/07/2023 3:19:55 PM
Swiggy acquires retail distribution company Lynk to enter retail market Online food delivery platform Swiggy on Thursday said it has acquired retail distribution company Lynk Logistics Limited for an undisclosed sum to enter the massive retail market. Lynk will continue to operate as an independent business post the acquisition led by Co-founder and CEO, Shekhar Bhende, Swiggy said in a statement. The acquisition will help Swiggy’s entry into the huge retail market with a technology-led distribution platform. Founded in 2015 by Abinav Raja and Bhen...
Swiggy acquires retail distribution company Lynk to enter retail market
Swiggy acquires retail distribution company Lynk to enter retail market
Source: IANS
13/07/2023 3:36:18 PM
Swiggy delivers 7.6 cr biryani orders in past 12 months in India Ahead of International Biryani Day, celebrated on July 2 every year, online food delivery platform Swiggy on Friday revealed that Indians placed 7.6 crore biryani orders in the past 12 months. According to the company, people across the country placed 219 orders per minute for their favourite dish, ranging from the aromatic 'Lucknowi Biryani' to the spicy 'Hyderabadi Dum Biryani', and from the flavourful 'Kolkata Biryani' to the fragrant 'Malabar Biryani'. ...
Swiggy delivers 7.6 cr biryani orders in past 12 months in India
Swiggy delivers 7.6 cr biryani orders in past 12 months in India
Source: IANS
30/06/2023 4:47:59 PM
Ex-SoftBank veteran Manoj Kohli joins WeWork India as independent Board Director  Flexible workspace provider WeWork India on Monday announced the appointment of Manoj Kohli, former Country Head of Softbank India, Softbank Group International, as an independent Director to its Board. Anthony Yazbeck, President and Chief Operating Officer, WeWork Inc, has also joined the Board. Kohli supported the SoftBank Group and Vision Fund in investing $15 billion in over 25 AI-focused portfolio companies in India. He has also aided entrepreneurs and CEOs of key players ...
Ex-SoftBank veteran Manoj Kohli joins WeWork India as independent Board Director
Ex-SoftBank veteran Manoj Kohli joins WeWork India as independent Board Director
Source: IANS
22/05/2023 1:53:37 PM
Our food delivery business turns profitable, says Swiggy CEO Swiggy CEO Sriharsha Majety on Thursday said that their food delivery business has turned profitable (as of March 2023), after factoring in all corporate costs, excluding employee stock option costs. Without sharing any numbers, Majety said that this is a milestone for food delivery globally, as Swiggy has become one of the very few global food delivery platforms to achieve profitability in less than nine years since its inception. "Our teams are more in sync than ever with restaur...
Our food delivery business turns profitable, says Swiggy CEO
Our food delivery business turns profitable, says Swiggy CEO
Source: IANS
18/05/2023 1:03:49 PM
US-based Invesco further slashes Swiggy's valuation to $5.5 bn US-based investment company Invesco has further slashed online food delivery platform Swiggy's valuation in its holding to about $5.5 billion. According to regulatory filings with the US Security and Exchange Commission (SEC), Invesco valued Swiggy's shares at $3,305 (as of January 31, 2023) -- down from $4,759 in October 2022. In October last year, Invesco had already reduced the valuation of its holding in Swiggy to about $8 billion. Swiggy had reached a $10.7 billion valua...
US-based Invesco further slashes Swiggy's valuation to $5.5 bn
US-based Invesco further slashes Swiggy's valuation to $5.5 bn
Source: IANS
9/05/2023 11:57:10 AM
Accel unveils Atoms 3.0 with sector-focused thematic cohorts for early stage firms Global VC firm Accel on Tuesday unveiled the new avatar of its Atoms programme called 'Atoms 3.0' which will have two theme/sector-based cohorts -- Artificial Intelligence (AI) and Industry 5.0. The programme was launched 21 months ago, and since then, Atoms has invested in 24 companies across two cohorts. These companies have since raised a total of over $160 million in funding. Applications for Atoms 3.0 will open by the end of May. Atoms is constantly evolving and looking ...
Accel unveils Atoms 3.0 with sector-focused thematic cohorts for early stage firms
Accel unveils Atoms 3.0 with sector-focused thematic cohorts for early stage firms
Source: IANS
9/05/2023 10:27:54 AM
Food-tech startup Pluckk acquires 100% stake in Meal Kit brand KOOK Pluckk, a first-of-its-kind digital lifestyle-oriented fresh food brand in the Fruits and Vegetables (F&V) space, has announced the acquisition of KOOK, an Indian food-tech startup that offers a range of DIY Meal Kits for consumers, at a deal value of $ 1.3 million through a combination of cash and equity. KOOK offers DIY Meal Kits that make cooking easier for everyone by providing pre-portioned ingredients and easy-to-follow recipes. With a reputation for catering to various dietary p...
Food-tech startup Pluckk acquires 100% stake in Meal Kit brand KOOK
Food-tech startup Pluckk acquires 100% stake in Meal Kit brand KOOK
Source: IANS
2/05/2023 11:52:38 AM
Swiggy begins charging Rs 2 `platform fee` per food order from users Online food delivery platform Swiggy has started charging all users a "platform fee" of Rs 2 per food order, irrespective of the cart value. The company told IANS that the additional charges are being levied only on food orders on the main platform and does not apply on Instamart users. "The platform fee is a nominal flat fee charged on food orders. This fee helps us operate and improve our platform and enhance app features to deliver a seamless app experience," a Sw...
Swiggy begins charging Rs 2 `platform fee` per food order from users
Swiggy begins charging Rs 2 `platform fee` per food order from users
Source: IANS
28/04/2023 6:01:30 PM
Swiggy partners apna to create 10K jobs for Instamart this year Swiggy and apna, a leading professional networking platform for gig workers, on Thursday announced a partnership to create 10,000 jobs for the online food delivery platforms quick commerce grocery service Instamart this year. According to market research firm RedSeer, the quick commerce domain is anticipated to touch $5.5 billion by 2025, up from $0.3 billion in 2021. This rapid growth will increase the demand from enterprises to hire more delivery partners. "Given Swiggy's pre...
Swiggy partners apna to create 10K jobs for Instamart this year
Swiggy partners apna to create 10K jobs for Instamart this year
Source: IANS
27/04/2023 1:47:49 PM
Zypp Electric to deploy 1 lakh e-scooters for Zomato by 2024 Zypp Electric on Tuesday said it will deploy 1 lakh e-scooters for online food delivery platform Zomato by 2024. The company said that the association is part of a larger plan of Zomato to go completely electric by 2030. "This association will enable us to significantly reduce carbon emissions and bring more sustainable last-mile delivery options to our customers. We look forward to working together to create more efficient and environment friendly deliveries," said Mohit Sard...
Zypp Electric to deploy 1 lakh e-scooters for Zomato by 2024
Zypp Electric to deploy 1 lakh e-scooters for Zomato by 2024
Source: IANS
25/04/2023 11:01:35 AM
Swiggy CTO moves on to start his entrepreneurial venture Online food delivery platform Swiggy on Monday confirmed that its Chief Technology Officer (CTO) Dale Vaz has decided to move on to pursue his entrepreneurial venture. In a statement to IANS, Swiggy said that Vaz will continue in his role till May and will be associated with the company for an extended period in an advisory role. "Madhusudan Rao will take over as CTO. Madhu has been with Swiggy for over four years and has decades of tech leadership experience with a proven track re...
Swiggy CTO moves on to start his entrepreneurial venture
Swiggy CTO moves on to start his entrepreneurial venture
Source: IANS
3/04/2023 5:04:32 PM
India`s gig economy in a limbo as online food deliveries slow down With a spurt in online food and grocery delivery, especially in the pandemic years, India saw a meteoric rise in the gig economy, giving millions of people job opportunities. However, delivering hot and piping food at customers' doorsteps has become a nightmare for many of them as the food delivery business turns out to be a losing game while more and more delivery partners report unfair work conditions, pay disparity, and harassment. India is likely to see its gig workforce add 9-1...
India`s gig economy in a limbo as online food deliveries slow down
India`s gig economy in a limbo as online food deliveries slow down
Source: IANS
18/03/2023 4:45:49 PM
Swiggy announces new initiative with 0% commission for new restaurant partners Online delivery platform Swiggy on Friday announced the "Swiggy Launchpad" initiative with a 0 per cent commission for the first month for new restaurant partners across the country who want to experience and grow their business with online food delivery. The new initiative by Swiggy is to encourage restaurants that are new to the company to recognise online delivery as an incremental channel to kickstart their growth, according to the company. "With 0 per cent commission...
Swiggy announces new initiative with 0% commission for new restaurant partners
Swiggy announces new initiative with 0% commission for new restaurant partners
Source: IANS
17/03/2023 6:32:56 PM
Swiggy appoints 3 independent directors to its Board Swiggy on Monday announced it has appointed three independent directors to its Board - Mallika Srinivasan, Padma Shri awardee and Chairman and Managing Director of TAFE; Shailesh Haribhakti, Chairman of Shailesh Haribhakti & Associates; and Sahil Barua, Managing Director and CEO at Delhivery. They are the first independent directors on Swiggy's board and join current members: ASriharsha Majety - CEO and Co-founder of Swiggy; Nandan Reddy, Co-founder of Swiggy; Larry Illg, CEO of Pr...
Swiggy appoints 3 independent directors to its Board
Swiggy appoints 3 independent directors to its Board
Source: IANS
6/02/2023 2:41:18 PM
Darwinbox, Microsoft join hands to elevate employee experience HR tech unicorn Darwinbox and Microsoft on Tuesday announced a collaboration to empower organisations globally and redefine the future of work. DarwinBox also received investments from Microsoft as a strategic investor for an undisclosed sum. Darwinbox aims to elevate employee experience through its human capital management (HCM) software-as-a-service (SaaS) platform using Microsoft Azure Cloud and AI. "As we align on the joint vision of helping our customers unlock new levels o...
Darwinbox, Microsoft join hands to elevate employee experience
Darwinbox, Microsoft join hands to elevate employee experience
Source: IANS
17/01/2023 11:15:36 AM
Swiggy delivers 1.65 lakh, Zomato gets 16,514 biryani orders on NY Eve Homegrown online food delivery platforms Swiggy and Zomato have revealed that they had delivered 1.65 lakh and 16,514 biryani orders, respectively, on New Year's Eve. Swiggy tweeted on December 31: "I'm just hoping y'all have enough room left for the 1.56 lakh biryanis that's also been delivered." Later, it posted that "the number of biryani orders have now gone to 1.65 lakh since I tweeted this". Swiggy CEO Sriharsha Majety also revealed that more...
Swiggy delivers 1.65 lakh, Zomato gets 16,514 biryani orders on NY Eve
Swiggy delivers 1.65 lakh, Zomato gets 16,514 biryani orders on NY Eve
Source: IANS
2/01/2023 5:14:39 PM
Food-tech venture Pluckk records $5million annualised revenue run rate in Oct Pluckk, a fresh produce food-tech venture owned by Fruveggie Tech Pvt Ltd., has clocked record revenues of $5 million in a short span of time since its launch in January 2022, making it one of the fastest growing D2C brands in the Fruits & Vegetables (FnV) category. The revenue growth was driven by the launch of the PLUCKK app in April which contributed to its stellar growth with 100k downloads in just three months. The company also announced its expansion in Delhi-NCR, where the pi...
Food-tech venture Pluckk records $5million annualised revenue run rate in Oct
Food-tech venture Pluckk records $5million annualised revenue run rate in Oct
Source: IANS
28/11/2022 12:24:56 PM
From Meta to Zomato, how India's new online review rules will impact industry With the new Bureau of Indian Standards (BIS) guidelines coming into force to guard customers from fake online reviews of products, tech giants like Meta and Google, along with homegrown platforms like Zomato and Flipkart, will now face closer scrutiny of product reviews on their respective platforms. The guidelines, prescribing specific responsibilities for the review author and the review administrator, went live on Friday and are now applicable to every online platform which publishes c...
From Meta to Zomato, how India's new online review rules will impact industry
From Meta to Zomato, how India's new online review rules will impact industry
Source: IANS
26/11/2022 2:02:57 PM
Swiggy, Zomato make it to top 10 global online food delivery firms Homegrown online food delivery platforms Zomato and Swiggy have made it to the list of the world's 'Top 10' e-commerce-based food delivery companies, says a new report. According to the Canada-headquartered global research firm ETC Group, Swiggy was placed in 9th place and Zomato on 10th. Meanwhile, China's Meituan, the UK's Deliveroo, and the US' Uber Eats, a subsidiary of Uber, captured the top 3 positions, respectively. "The food delivery sector refers...
Swiggy, Zomato make it to top 10 global online food delivery firms
Swiggy, Zomato make it to top 10 global online food delivery firms
Source: IANS
23/09/2022 10:43:02 AM
Moonlighting not ethically right for full-time employees: IBM Amid the brouhaha over moonlighting in India, Cloud Major IBM on Wednesday made it clear that the practice is not ethical and the company does not promote such behaviour at workplace. Sandip Patel, Managing Director, IBM India, said that the company's position is exactly that of the overall industry in the country. "All of our workers when they are employed, they sign an agreement which says that they are going to be working full-time for IBM. So moonlighting is not ethically r...
Moonlighting not ethically right for full-time employees: IBM
Moonlighting not ethically right for full-time employees: IBM
Source: IANS
14/09/2022 2:12:43 PM
Swiggy offers free skill-based learning to gig workers, their kids Online food delivery platform Swiggy on Tuesday announced a skill initiative to offer free learning opportunities to thousands of delivery executives and their children. Swiggy has partnered with Khan Academy, a non-profit educational organisation to provide courses and certifications via its 'Skills Academy'. The company has also partnered with Google to use Read Along, a speech-based reading tool, to help children of delivery partners improve their reading skills. "Wit...
Swiggy offers free skill-based learning to gig workers, their kids
Swiggy offers free skill-based learning to gig workers, their kids
Source: IANS
13/09/2022 5:19:47 PM
Hotel industry body cautions restaurants over Zomato Pay, Swiggy Diner The National Restaurant Association of India (NRAI) on Friday cautioned the restaurant fraternity to exercise caution before choosing to be part of the new Zomato Pay and Swiggy Diner programmes, calling those "bizaare". The NRAI said in an advisory that customers are dazzled into settling their bills via either Zomato Pay or Swiggy Diner "because of the deep discounts and generous cash backs that comes with it; it is a deal too good to refuse at no cost". However, r...
Hotel industry body cautions restaurants over Zomato Pay, Swiggy Diner
Hotel industry body cautions restaurants over Zomato Pay, Swiggy Diner
Source: IANS
2/09/2022 4:55:14 PM
Tortoise received funding from Swiggy & ZestMoney's founder, CE0  Fintech startup Tortoise has received an undisclosed amount of funding from Sriharsha Majety co-founder and CEO of Swiggy and Lizzie Chapman co-founder and CEO of ZestMoney. The Save Now Buy Later (SNBL) startup had, earlier this year, raised around $2.3 million, in a seed round of funding, from Vertex Ventures, a part of global investment firm Temasek. "This round is our Mentors Round, where we are raising Angel cheques from category-defining leaders like Lizzie and Sriharsh...
Tortoise received funding from Swiggy & ZestMoney's founder, CE0
Tortoise received funding from Swiggy & ZestMoney's founder, CE0
Source: IANS
1/09/2022 2:29:44 PM
Zomato Pro stops new sign ups, renewals as firm plans new premium plan Online food delivery platform Zomato has stopped signing up new users or renewing old subscriptions for its loyalty dining membership programme called 'Pro', as the Deepinder Goyal-run company is working with customers and restaurant partners to craft a new programme. The move comes as fine-dine restaurants are now open across the country after facing a turbulent time in the pandemic, and people now prefer going out with families for dinners. The online food aggregator launched ...
Zomato Pro stops new sign ups, renewals as firm plans new premium plan
Zomato Pro stops new sign ups, renewals as firm plans new premium plan
Source: IANS
22/08/2022 12:10:03 PM
Swiggy brings in The Great Khali or a joint Big Birthday Bash! Series of digital films featuring the veteran Indian wrestler have been released to depict the ‘heavyweight’ celebrations Mumbai: : As part of its campaign to celebrate its 8th anniversary, Swiggy has launched a series of digital films featuring “The Great Khali”. This year, the veteran Indian wrestler will join in to celebrate his landmark 50th birthday along with Swiggy’s Big Birthday Bash. To celebrate the special occasion with customers, Swiggy is hos...
Swiggy brings in The Great Khali or a joint Big Birthday Bash!
Swiggy brings in The Great Khali or a joint Big Birthday Bash!
Source: PR Agency
18/08/2022 3:09:28 PM
Swiggy appoints Rohit Kapoor as CEO for Food Marketplace biz Online food delivery platform Swiggy on Wednesdsay appointed Rohit Kapoor as its Chief Executive Officer for Food Marketplace business. Kapoor previously worked at hospitality major OYO for nearly four years, first as the CEO of the company's India and Southeast Asia operations and subsequently as the global CMO. In his role at Swiggy, he will drive the food delivery business and be responsible to develop strategies, drive growth and foster innovation, the company said in a statemen...
Swiggy appoints Rohit Kapoor as CEO for Food Marketplace biz
Swiggy appoints Rohit Kapoor as CEO for Food Marketplace biz
Source: IANS
18/08/2022 10:37:44 AM
Swiggy allows employees to work outside company to make more money On-demand delivery platform Swiggy on Wednesday introduced a new "Moonlighting" policy for its employees that will let them take up external projects to make more money. Swiggy said this could encompass activity outside of office hours or on weekends that does not impact their productivity on the full-time job or have a conflict of interest with the company's business in any way. "Swiggy has always strived to understand the diverse aspirations of its employees and to ...
Swiggy allows employees to work outside company to make more money
Swiggy allows employees to work outside company to make more money
Source: IANS
3/08/2022 3:44:42 PM
Swiggy adopts permanent work-from-anywhere policy On-demand delivery platform Swiggy on Friday announced a permanent work-from-anywhere for majority of its employees. The decision was arrived at based on team needs and feedback from several managers and employees who vouched for the flexibility and increased productivity working from home has given them in the last two years, the company said in a statement. Under the new policy, the corporate, central business functions and technology teams will continue to work remotely and converge ...
Swiggy adopts permanent work-from-anywhere policy
Swiggy adopts permanent work-from-anywhere policy
Source: IANS
29/07/2022 3:13:30 PM
Zomato allots shares worth Rs 200 cr to staff at Re 1 face value Online food delivery platform Zomato, which is going through its worst phase at Dalal Street, has allotted nearly 4.66 crore shares to its employees from its employee stock option plan (ESOP) pool at the face value of Rs 1. The board of directors approved the allotment of 4,65,51,600 equity shares to employees upon exercise of vested stock options, according to its filing with the stock exchanges. The entire allotment is worth around Rs 200 crore (Zomaro's share price was hovering a...
Zomato allots shares worth Rs 200 cr to staff at Re 1 face value
Zomato allots shares worth Rs 200 cr to staff at Re 1 face value
Source: Reuters
27/07/2022 1:57:08 PM
Domino`s India may shift business away from delivery firms Zomato and Swiggy Domino's Pizza India franchise will consider taking some of its business away from popular food delivery apps, Zomato and SoftBank-backed Swiggy, if their commissions rise further, according to a letter seen by Reuters. The disclosure was made by Jubilant FoodWorks, which runs the Domino's and Dunkin' Donuts chain in India, in a confidential filing with the Competition Commission of India (CCI) which is investigating alleged anti-competitive practices of Zomato and Swiggy. J...
Domino`s India may shift business away from delivery firms Zomato and Swiggy
Domino`s India may shift business away from delivery firms Zomato and Swiggy
Source: Reuters
22/07/2022 5:26:32 PM
10-minute delivery startups ready to defy downturn as demand surges As a pale of gloom shrouds the Indian startup ecosystem amid funding drought after a strong bull run, the quick commerce (10-minute delivery) segment is brewing with new hope as people prefer groceries and other home essentials at their doorsteps within no time after making an online order. Startups like Swiggy Instamart, Zepto, and Reliance-backed Dunzo, etc are trying to defy the current slowdown, as they add more goods and daily essentials to their kitty and deliver them to their custom...
10-minute delivery startups ready to defy downturn as demand surges
10-minute delivery startups ready to defy downturn as demand surges
Source: IANS
29/05/2022 12:56:40 PM
Swiggy enters high-end dining market with $200 mn acquisition of Dineout Online food delivery platform Swiggy on Friday announced it has acquired Dineout, a dining out and restaurant tech platform, for an undisclosed sum. Reliable sources told IANS that the acquisition size could be around $200 million. Dineout, which serves millions across its network of 50,000 restaurants in 20 cities, will continue to operate as an independent app post the acquisition. "Times Internet and the founding team should be credited for the transformational impact they ha...
Swiggy enters high-end dining market with $200 mn acquisition of Dineout
Swiggy enters high-end dining market with $200 mn acquisition of Dineout
Source: IANS
13/05/2022 4:03:05 PM
Swiggy to upskill delivery boys to become company employees Online food delivery platform Swiggy on Monday announced the launch of an industry-first-accelerator programme for its delivery executives to transition into full-time, managerial-level jobs with a fixed salary and additional benefits. The programme, named "Step-Ahead" is aimed at giving an opportunity to those executives who want to move from their current flexible engagement with Swiggy to a dedicated, managerial role, the company said. "Swiggy has consistently maintain...
Swiggy to upskill delivery boys to become company employees
Swiggy to upskill delivery boys to become company employees
Source: IANS
25/04/2022 12:35:50 PM
Swiggy, Zomato invest in restaurant management platform UrbanPiper Restaurant management platform UrbanPiper on Monday announced it has raised $24 million led by existing investors Sequoia Capital India and Tiger Global, and new investors Swiggy and Zomato. The platform aims to use the funds to scale its product and engineering teams and looks to expand to more than 200,000 restaurant locations globally in the next two years. "With this investment, we will continue to widen UrbanPipera's offerings to meet many more digital opportunities in the...
Swiggy, Zomato invest in restaurant management platform UrbanPiper
Swiggy, Zomato invest in restaurant management platform UrbanPiper
Source: IANS
18/04/2022 12:44:11 PM
Bike taxi platform Rapido raises $180 mn led by Swiggy, TVS Motor Bike taxi aggregator platform Rapido on Friday said it has raised $180 million led by online food delivery service Swiggy. Rapido said the funds would be used to bolster technology, strengthen its teams and reach a larger audience in metros, tier 1, 2 and 3 cities to ensure last-mile connectivity. The Series D round also saw investment from TVS Motor Company, along with existing investors Westbridge, Shell Ventures and Nexus Ventures. "We look forward to learning from Swiggy'...
Bike taxi platform Rapido raises $180 mn led by Swiggy, TVS Motor
Bike taxi platform Rapido raises $180 mn led by Swiggy, TVS Motor
Source: IANS
15/04/2022 3:15:16 PM
How CCI order is also a breather for Zomato, Swiggy  As the Competition Commission of India (CCI) ordered a thorough investigation into the conduct of online food delivery platforms Zomato and Swiggy, the detailed document has actually given a breather to the food delivery platforms, people close to the matter told IANS on Tuesday. While the CCI has indeed directed a Director-General (DG) investigation, the order in some sense is a vindication for the food delivery companies since the CCI has not found concerns with issues around "...
How CCI order is also a breather for Zomato, Swiggy
How CCI order is also a breather for Zomato, Swiggy
Source: IANS
5/04/2022 7:08:42 PM
Key News - Life Insurance Corporation of India, Raymond, Swiggy By ARETE Securities KeyNews LIC IPO gets Sebi approval; may see delayed launch over Ukraine crisis India’s markets regulator has approved the public listing of Life Insurance Corporation of India (LIC), sources told 'Business Standard' on Wednesday as the war in Ukraine casts a shadow over the state-owned firm’s IPO timing. The government is looking to sell a 5 per cent stake, or 316 million shares, in the insurer through the IPO. Investment banking sources said Sebi issued the so-call...
Key News - Life Insurance Corporation of India, Raymond, Swiggy By ARETE Securities
Key News - Life Insurance Corporation of India, Raymond, Swiggy By ARETE Securities
Source: ARETE Securities Ltd
10/03/2022 10:15:26 AM
Swiggy set to acquire DineOut for around $200 mn  Leading online food delivery platform Swiggy is set to acquire Times Internet-backed dining out platform Dineout for close to $200 million, reliable sources said here on Monday. Dineout was also in talks with leading fintech platform Cred but Swiggy has apparently won the race. Sources told IANS that Swiggy-DineOut talks are now in the final stage for an acquisition that will be in the range of $200 million (at the current valuation of Dineout). Swiggy and Dineout did not immed...
Swiggy set to acquire DineOut for around $200 mn
Swiggy set to acquire DineOut for around $200 mn
Source: IANS
14/02/2022 12:09:07 PM
Swiggy to infuse Rs 5,250 Cr in quick grocery service Instamart Online food delivery platform Swiggy on Thursday announced to invest $700 million (over Rs 5,250 crore) in its express grocery delivery service Instamart that delivers groceries in 15-30 minutes -- at a crucial time when its closest rival Zomato discontinued its in-house grocery delivery services. Launched in Gurugram and Bengaluru in 2020, Swiggy Instamart is now serving customers across 18 cities, and doing over one million orders per week. In the last few months, Swiggy Instatmart ha...
Swiggy to infuse Rs 5,250 Cr in quick grocery service Instamart
Swiggy to infuse Rs 5,250 Cr in quick grocery service Instamart
Source: IANS
2/12/2021 4:42:50 PM
Update On Swiggy Ltd By ICICI Securities Impressive diversification into adjacencies We hosted Mr. Rahul Bothra, CFO, Swiggy, on an investor call that received overwhelming participation from marquee global and domestic fund houses. Key takeaways: (1) robust medium-term growth expectation for the industry (30-40% CAGR) in steady state; (2) sustainability of current take rates; and (3) impressive progress on diversification into adjacencies (currently accounting for ~25% of revenues, expected to be ~50% in 3-4 years). In the ne...
Update On Swiggy Ltd By ICICI Securities
Update On Swiggy Ltd By ICICI Securities
Source: ICICI Securities
13/10/2021 9:34:09 AM