Page 16 - Food Delivery

DoorDash shares jump 17% on $8 billion deal, earnings beat

The all-stock deal is DoorDash's biggest purchase to date, eclipsing the acquisition of Caviar in 2019

Amid competition, DoorDash buys Finnish delivery app Wolt in $8-bn deal

DoorDash's shares soared 24% in extended trading in New York after news of the deal and third-quarter results that beat analysts' estimates.

​Foodpanda and Rebel Foods launch Asia's largest virtual brand partnership

Through this partnership, customers across Asia can get food options from virtual brands such as Faasos, Behrouz Biryani

Zomato customer care agent schools customer on Hindi; Company fires staff

The restaurant aggregator and food delivery company on Tuesday apologised to a person, who alleged that he was denied refund by its customer care agent for not knowing Hindi

Swiggy eyes category larger than food delivery; to change Supr's structure

Swiggy's foray into grocery delivery started with the acquisition of Supr Daily in 2018

GST Council extends concessions on certain Covid drugs till Dec 31: FM

The all-powerful GST Council on Friday extended concessional tax rates on certain Covid-19 drugs by three months till December 31

GST Council may deliver blow to food-delivery operators Swiggy, Zomato

Many restaurants are not depositing GST, while some are not even registered

Google-backed Dunzo launches 19-minute ultra-fast grocery delivery

Dunzo is offering its ultra-fast grocery delivery service Dunzo Daily in Bengaluru, through which it will deliver essentials in 19 minutes

Swiggy aims to cover 800,000 km per day on electric vehicles by 2025

The food delivery giant has announced the commencement of trials that will increase the deployment of EVs in its delivery fleet

61% diners want takeaway meals, home-delivery as Covid fear remains: Survey

Over 95% diners say they'd feel comfortable visiting eateries that clearly communicate their protocols in dining and kitchen areas; some prefer kitchens that are open for patron inspection

Meituan plunges 15% after China issues food platform regulations

The government posted a notice Monday asking meal delivery operators to respect the rights of delivery staff

'Zomato's stellar IPO to have positive impact on foodtech firms' valuation'

Apart from Swiggy, Zomato's biggest competitor, Rebel Foods, Dunzo, Ola Foods will also be fancying their chances of a blockbuster listing or more private equity funding, say experts

A new 'Day Zero', says Zomato Co-founder Deepinder Goyal on listing

In a blog post titled "Letter from Deepi," he said Zomato will not alter the firm's focus for short term profits at the cost of the long term success of the company

Zomato's $1.3 bn IPO to test appetite for India's new tech generation

Investors bragged on Twitter about snagging shares in the startup, yearning for the sort of returns Facebook Inc. and Alibaba Group Holding Ltd. generated

Swiggy valuation tops $5.5 bn after raising $1.25 bn from SoftBank, Prosus

The fundraise will give Swiggy enough firepower to take on rivals such as Zomato, Amazon, Dunzo and Ola Foods

Irrational exuberance over Zomato

Zomato is essentially a "concept stock" because it has neither made profits, nor has issued any guidance on ever getting to profitability, notes Shyamal Majumdar

Zomato IPO subscribed 36% in early hours, investors across segments bid

The initial public offering of food delivery platform Zomato opened on Wednesday, with more than 36 per cent of shares offered being subscribed in the initial hours. The offer received bids for 26.10 crore equity shares against an IPO size of 71.92 crore, stock exchange data showed. Retail investors sought 1.91 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 24.76 crore shares were bid by 13.30 hours. Non-institutional investors put in bids for 7 per cent against their reserved portion. The portion set aside for employees was subscribed 6 per cent, while qualified institutional buyers have put in bids for 2.69 lakh equity shares against their reserved portion of 38.88 crore equity shares. Shares in the IPO, which is the biggest in India this year, are being offered in a price band of Rs 72-76 per share. Zomato has already mobilised Rs 4,196.51 crore from 186 anchor investors on July 13, a day before the issue opening. The

Zomato allots shares worth Rs 4,195 cr to anchor investors ahead of IPO

Sources said the anchor book saw over 30x more demand than the shares on offer. The total interest generated was in excess of Rs 1 trillion

With Zomato's offering, fresh fundraising via IPOs set to hit 14-year high

All-time high not far away with Paytm planning fresh issue of Rs 12,000 cr

Food delivery giant Swiggy elevates Phani Kishan as co-founder

Swiggy was co-founded by Majety, Rahul Jaimini and Nandan Reddy in 2014.