Page 21 - Swiggy

IPO-bound Swiggy announces fifth ESOP liquidity programme worth $65 million

So far, the company has cumulatively enabled over Rs 1,000 crore of ESOP liquidity over the five events, benefiting over 3,200 employees

Swiggy, Zomato increase platform fee to Rs 6 per order for revenue boost

Initially introduced in Bengaluru and Delhi, the fee implemented by Swiggy and Zomato is distinct from delivery charges, GST, restaurant fees, and other expenses associated with orders

US investment firm Invesco reduces fair value of Pine Labs, Swiggy

Pine Labs plans $1 bn IPO in India after getting Singapore court's approval to shift base

Invesco lowers fair value, cutting Swiggy and Pine Labs valuations

US-based investor Invesco valued its 28,844 shares in Swiggy at $219.2 million, implying a total valuation of $12.3 billion, down from $12.7 billion in January 2024

In a first, Swiggy launches 'Eatlists' feature to share food recommendation

Swiggy's 'Eatlists' feature will allow food enthusiasts to compile and share their favourite dishes directly within the Swiggy app

Digital Competition Bill may impact user experience on online platforms

As many as thirteen platforms, including Zomato, Swiggy, Paytm, IRCTC, Makemytrip, Flipkart, JioSaavn, Pharmeasy, and others, would come under the purview of the Digital Competition Bill

India embraces 24-hour retail, nighttime consumer spending soars by 60%

Data from Simpl's Checkout Scan shows a remarkable 60 per cent increase in total payment volumes for orders placed between 10 pm and 4 am over the past year

CLSA says Zomato is growing faster than Swiggy, sees 25% upside

In terms of revenue, Swiggy's Y-o-Y growth of 24 per cent also fell short of Zomato's adjusted revenue growth of 55.9 per cent Y-o-Y

Prosus writes off investment in Byju's, records $493 million loss

This would be perhaps the first such large write-off announced by a large institutional investor in India

Swiggy launches recruitment support initiative for partner restaurants

Food and grocery delivery platform Swiggy on Thursday announced the launch of a new feature on its partner app to connect restaurants with staffing experts as part of a new recruitment support initiative. Swiggy has teamed up with staff hiring experts like Apna, WorkIndia, Kaam, and Shiftz to help restaurants connect with qualified candidates across various roles. "As the food services industry expands at an unprecedented rate, maintaining an efficient and skilled workforce has become crucial for restaurants to ensure quality service," the company stated. "This rapid growth has intensified competition within the talent market. Further, the attrition rate in the industry has also been high, posing significant recruitment challenges for restaurant owners and managers," it said. To address these challenges, Swiggy has teamed up with leading staff hiring experts to help restaurants connect with qualified candidates across various roles, including cooks/chefs, kitchen helpers, and servi

Delhivery, Xpressbees venture into quick-commerce to meet soaring demand

Gurgaon-based Delhivery has started overseeing larger warehouses for Swiggy Instamart while Xpressbees is discussing partnerships with key players in the industry

Parent company Zomato set to infuse fresh capital of Rs 300 cr in Blinkit

With this latest investment, Zomato has invested a total of Rs 2,300 crore in Blinkit since acquiring the company in August 2022

Indians get hooked on 10-minute grocery apps, squeezing small retailers

Swiggy warehouses are mushrooming across India to deliver everything from milk and bananas to condoms and roses within minutes - a business model that is reshaping how Indians shop

IPO-bound firms seek advice amid market fluctuation after Lok Sabha results

Lok Sabha elections 2024 results: IPO-bound companies are consulting experts for guidance amid the fluctuations in the stock market

Baron Capital boosts food delivery firm Swiggy valuation to $15.1 billion

The food delivery firm's investors have been consecutively marking up the company's valuation over the last year as it gears up for an IPO this year

Selling like hot cakes: Online sales blaze as consumers click to stay cool

One of the main players in the quick commerce space- Swiggy Instamart, has witnessed a sharp rise in sales of juices, cold drinks, and ice creams

Reliance to challenge Blinkit, Swiggy, Zepto with quick commerce entry

Reliance's JioMart may begin offering deliveries within the next month, completing deliveries within 30 minutes

Flipkart to Swiggy: Valuations of top startups on path to recovery in 2024

After inflated valuations in 2022 and subsequent markdowns, the companies are on the path to recovery to keep their valuations realistic as they aim for profitability

Swiggy HDFC Bank credit card revises cashback plan: All you need to know

Instead of cashback appearing as Swiggy Money on the Swiggy app, it will now be reflected directly on your credit card statement

E-commerce demand surges amid heatwave, manpower needs increase

In the past month alone, daily deliveries by e-commerce entities have escalated to over two million, compared to 1.2-1.5 million deliveries recorded a year earlier