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Swiggy, Zomato make it to top 10 global online food delivery firms: Report

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

Topics
Swiggy | Zomato | Food delivery

IANS  |  New Delhi 



Swiggy

Homegrown platforms and have made it to the list of the world's 'Top 10' e-commerce-based companies, says a new report.

According to the Canada-headquartered global research firm ETC Group, was placed in 9th place and 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 sector refers to digital, on-demand platforms for ordering and paying for prepared food and, increasingly, groceries and other retail items," the research firm said in a statement.

"Restaurants/retailers fill the orders and couriers deliver them to customers within a prescribed timeframe," it added.

In June 2022, approved the acquisition of quick commerce start-up Blinkit for Rs 4,447.5 crore ($570 million) in an all-stock deal. Zomato already owned more than a 9 per cent stake in Blinkit (earlier Grofers).

Meanwhile, Swiggy, a subsidiary of Bundl Technologies Private Ltd, deals with prepared food (restaurant) delivery, cloud kitchen, and grocery delivery via Go.

"Venture capital and technology investment has fuelled the sector, but have yet to deliver profits -- even in the sector-friendly circumstances of the global pandemic when delivery became more necessity than convenience," the report said.

"Tweaking the business model to move toward profitability -- most prominently by adding grocery delivery -- is underway," it added.

--IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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First Published: Thu, September 22 2022. 19:21 IST

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