Swiggy to Sell its Stake in Ride-Hailing Company Rapido
On Tuesday, the Indian food and grocery services platform Swiggy announced the sale of its entire 12% stake, valued at $270 million, in ride-hailing services company Rapido. This decision stems from Rapido’s entry into the food delivery business, which Swiggy perceived as a potential threat, prompting a reevaluation of its strategy. According to the report,…
ABHYUDAYA MITTAL
Rapido’s Emerging Growth and Users, Beating Uber & OlaÂ
Rapido has been rising as a top ride-hailing service, gaining greater market share and users, and beating both Uber and Ola, despite its previous perception as a specialised bike-taxi service. The Company’s notable market share is driven by its taxi operations, which adversely affects Ola and Uber’s ability to stay ahead in a dynamic market. …
Himanshu
CCPA Charged Fine on Rapido for Misleading Ads
The Central Consumer Protection Authority (CCPA) has imposed a 10% fine on Rapido Company for deceiving its customers through advertisements and unfair trade practices. CCPA also ordered Rapido to compensate customers who used its auto in 5 minutes or Get the Rs 50 offer. Still, they did not receive the promised payment, the consumer ministry…
Shipra Prajapati