Page 9 - Food Delivery

A battle of delivery speeds: Blinkit, Zepto ignite quick commerce firestorm

Zepto's daily and monthly active user growth annually is faster than rivals, but Blinkit has more customers than Zepto

Just Eat forecasts 40% core profit jump, share decline by around 6%

Shares in Just Eat fell by more than 6% after its updated outlook matched market expectations, with one trader saying the lack of a new share buyback programme may disappoint investors

Food delivery company Swiggy changes registered name ahead of IPO

Swiggy is planning to file its draft red herring prospectus with the Securities and Exchange Board of India for its IPO in the next couple of days, aiming for an $11 billion IPO valuation target

Zomato summoned over 'false practice' of food from 'iconic restaurants'

A court here has issued a summons to food delivery app Zomato in a civil suit seeking a restraining order against the company from continuing its services allowing users to order "hot and authentic food" from "iconic restaurants" across the national capital. The court was hearing a plea filed by a Gurugram resident, which claimed Zomato was engaging in the "false and fraudulent" practice of delivering fresh food from well-known restaurants under its sub-category, 'Dilli ke Legends'. In an order passed recently, Civil Judge Umesh Kumar said, "Issue summons of the suit and notice of application." According to the plea, Sourav Mall placed an order on October 24 last year, from three different eateries in Jama Masjid, Kailash Colony and Jangpura, following which he tracked the delivery partner and found that the order was picked from the "unknown and unnamed" place and not from the original restaurant. "Why was the food picked up from a nearby location when there is no branch of the ..

Tastes2plate to raise Rs 30-40 cr to fuel growth in intercity food delivery

Kolkata-based intercity cooked food delivery startup, tastes2plate.com, is close to raising Rs 30-40 crore in Series A venture funding, aiming at unlocking exponential growth in the online food delivery market, which holds the potential to reach USD 3-5 billion within the next few years, an official said. Led by IT professional Gyan Srivastava, the bootstrapped startup took over three years to stabilize its business model through extensive innovation in packaging and logistics. This allowed the company to become the lowest-cost player in the industry, he said. "We are very close to raising Rs 30-40 crore in Series A funding," said Srivastava, CEO of tastes2plate (T2P) owned by Charabuni Services. The funds will be primarily used for capacity building in marketing, information technology, and logistics infrastructure, he said. "The funding will help us achieve 30-40 per cent month-on-month growth in the number of deliveries compared to our current volume. "While the total online f

Strong prospects may drive growth rates for food delivery platform Zomato

In the quick commerce segment, Blinkit GOV was Rs 3,500 crore (up 28 per cent Q-o-Q and up 103 per cent Y-o-Y), led both by stronger MTU and better ordering frequency

Uber bookings beat on robust demand for rides, delivery during holidays

Revenue increased 15% to $9.94 billion, ahead of estimates for $9.78 billion

Food-delivery platform Swiggy to cut 350-400 jobs across verticals

On-demand convenience platform Swiggy is understood to be preparing to cut around 400 jobs across various verticals as part of preparations for its initial public offering. As the company works to simplify structure and bring operational efficiencies, around 350 to 400 jobs are expected to be pruned, sources said. These will be across teams spanning technology, call centre and corporate roles, and the job cuts are expected to initiate gradually in the coming weeks. When contacted Swiggy declined to comment. The development comes at a time when Swiggy is preparing for its IPO. "Swiggy has been working on simplifying work processes and building operational efficiencies," a person aware of the development said. Swiggy's headcount is estimated to be around 6,000 at present.

Swiggy planning fresh layoffs; may cut 7% from 6,000-strong workforce

Swiggy plans to reduce its employment by 7 per cent, affecting 400 employees across teams like technology, call centers, and corporate roles

Food delivery major Swiggy teases doubling platform fee from Rs 5 to Rs 10

The Bengaluru-based firm claimed that the increased fee is an experiment tested amongst a "small set of users" and the company is not planning a significant hike any time soon

6.5 mn online food delivery orders on New Year's Eve 2023: RedSeer

The gross orders made during the day were a record number of 6.5 million, which is 18 per cent higher in comparison to NYE22

Food delivery platforms see 18% jump in orders on New Year's Eve: Redseer

Online food delivery platforms in the country together saw a record 6.5-million orders on New Year's Eve 2023, clocking an 18 per cent year-on-year growth, a report said on Thursday. On New Year's Eve 2022, online food delivery platforms in the country had recorded 5.5-million orders. Redseer's Big Data analysis on Consumer Behaviour noted that the spike in food delivery orders on NYE23 was a nationwide phenomenon as metros, tier-1 cities and rest of Indian cities show almost similar growth in order volumes on this day. Consumers kept on ordering in high volumes throughout the day on New Year's Eve 2023, with the spike peaking for dinners and late-night orders, where the GMV (gross merchant value) delivered was 2.5-3x of other days of the year, it said. Redseer's Big data analysis also observes that on NYE23, customers not only ordered higher volumes, but they also spent more per order. According to Redseer, the average order value was up to 30 per cent higher than that of other da

Zomato begins liquidation of its Vietnam-based step-down subsidiary

Zomato's revenue from operations rose 71 per cent year-on-year (Y-o-Y) to Rs 2,848 crore in Q2, up from Rs 1,661 a year ago. It had reported a revenue of Rs 2,416 in the previous quarter

Multiple margin levers ahead for food delivery platform Zomato's stock

It had begun levying a convenience fee of Rs 2 per order from August 2023, which was subsequently raised to Rs 3 per order

Food, quick delivery platforms clock all-time high orders on New Year's Eve

While Bengaluru, New Delhi, and Mumbai saw the highest number of orders among the metros, cities such as Jaipur, Chandigarh, and Ahmedabad too witnessed significant demand

Food delivery app Zomato gets Rs 402 cr show cause notice over unpaid GST

Zomato said that it was not liable to pay any tax on delivery charges as it was collected on behalf of the delivery partners

Swiggy unveils Pockethero, food delivery for budget-conscious customers

Pockethero offers free delivery and up to 60 per cent discounts to ensure significant customer savings

Slice of success: Have Zomato, Swiggy finally figured out the right recipe?

Zomato reported its first-ever profit of Rs 2 crore in Q1 FY24

Zomato's superior execution should hold it in good stead; stock up slightly

Zomato's share loss could be attributable to decisions like the temporary suspension of its loyalty membership programme and the shutdown of operations in 225 cities

Swiggy's food delivery business grew 17% to $1.43 bn in H1 FY24: Prosus

Online aggregator's operating metrics improved and loss reduced, says investor