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
Swiggy Toing App to Serve Low-Cost Dining Options
Swiggy is launching a new food delivery app called Toing, aimed at price-conscious consumers and initially available in Pune. This marks a strategic shift from their usual test market, Bengaluru, due to Pune’s demographic profile, an active student population and a young workforce, offering greater growth opportunities. According to a source close to the development,…
Sumit
Swiggy Plans To Launch Instamart App As A Separate App
In a strategy to attract customers, the Indian food platform plans to launch its separate grocery delivery app Instamart – Swiggy’s quick commerce offering – as a separate app. Instamart will remain on the Swiggy app, but the separate app will serve customers searching for grocery deliveries. This strategy was adopted by Chinese internet giants…
Vipin
Swiggy IPO To Transform Its 500 Employees’ Lives
The food delivery giant Swiggy made its highly-anticipated stock market debut on November 13, 2024. It is not only one of the biggest IPOs (Initial Public Offering) in recent years but also impacted the company’s employees’ lives. According to Money Control, 500 of Swiggy’s employees are likely to become crorepatis through the ESOP (Employee Stock…
Abdullah Ansari
Swiggy Raises ₹5,085 Crore From Anchor Investors
The leading food and grocery delivery giant, Swiggy, raised ₹5085 crore from anchor investors. The anchor investors received shares at ₹390, the upper end of the price band of ₹371-390 per share set for the IPO (Initial Public Offering). According to sources, more than half of the anchor book has been allotted to domestic investors. …
Himanshu
Swiggy Fined For Inflating Delivery Distance
The food delivery giant Swiggy was recently fined ₹35,000 for overcharging customers by artificially inflating delivery distances. A Hyderabad man filed a complaint against Siggy a few days ago for unfair trade practices, after which the company was ordered to pay ₹35,000, the Times of India reported. The District Consumer Disputes Redressal Commission in Telangana’s…
Swiggy’s Major Pre-IPO Development: What’s the Big News?
Swiggy, one of the leading companies in the food and grocery space, has declared one of the biggest ESOP (Employee Stock Option Plan)liquidity programs to date. The company has announced that it will offer ESOP liquidity to more than 2,000 employees across all departments and levels before launching its IPO. This program allows employees to…
Zomato Faces ₹402 crore Show Cause Notice Over Unpaid GST
The Indian food delivery giant, Zomato, on Wednesday received a show cause notice from the Directorate General of GST over non-payment of GST. The show cause notice was sent to the Gurugram-based food aggregator, demanding the company to answer why they haven’t paid a tax of over ₹402 crore on the food delivery charges along…
Shipra Prajapati
Restaurants Raised Discounts To Fend Off Swiggy & Zomato
Large restaurants have increased discounts and promotional offers by 15-20% on their own apps to compete with aggregators like Swiggy and Zomato. This step is taken to reduce the steep commission and search optimisation fees being charged by the aggregators and lower the dependence on them, the industry executives said. India’s largest quick-service chain, Domino’s…
Swiggy Crossed $10.7 Billion Valuation After Raising $700 Million in Invesco
Food delivery giant, Swiggy, has raised $700 million in Invesco and crossed a $10.7 bn valuation, according to the sources.  Swiggy’s latest valuation is almost double to Zomato before the latter went for its initial public offering. Zomato was valued at $5.4 billion before its IPO. With this new funding, Swiggy also came closer to…
John David