Page 22 - Swiggy

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

Bengaluru water crisis: Swiggy Instamart to deliver aerators in 10 minutes

Swiggy Instamart saw an 1400% increase in the searches for aerators on its platform since BWSSB's mandate for the installation of aerators in commercial establishments

Swiggy Instamart, Blinkit, Zepto to deliver gold & silver coins in 10 mins

Akshaya Tritiya holds significant importance in Hindu culture, symbolising prosperity and abundance. The day is also considered auspicious for the purchase of gold and silver

Delhi HC asks Swiggy, Zomato to delist 13 eateries using Domino's trademark

Domino's initiated a lawsuit for trademark infringement against 13 restaurants operating names such as 'Dominic Pizza', 'and Dominek's Pizza', among others

Why the failed delivery of Rs 187 ice cream, cost Swiggy more than Rs 5,000

The customer sought Rs 10,000 as compensation and an additional Rs 7,500 in litigation expenses from Swiggy for its failure to deliver the ice cream and subsequent refusal of a refund

Swiggy secures shareholders' approval to raise over Rs 10,400 cr via IPO

Food and grocery delivery major Swiggy has received shareholders' approval for an initial public offering to raise Rs 10,414 crore fund through issue of fresh equity shares and an offer for sale, according to sources. A special resolution was passed at an extraordinary general meeting of Swiggy on April 23, they said. According to sources, the Bengaluru-based company plans to raise up to Rs 3,750 crore funds through fresh equity shares, in addition to an offer-for-sale component of up to Rs 6,664 crore. The company is looking to shore up about Rs 750 crore from anchor investors in a pre-IPO round, they added. Swiggy, founded in 2014, has a valuation of USD 12.7 billion as on April 10, 2024. Its annual revenue stood at USD 1.09 billion as on March 31, 2023. The company has more than 4,700 employees, according to Tracxn, a global startup data platform.

Swiggy gets shareholder approval for potential $1.2 billion IPO this year

Bengaluru-based Swiggy intends to raise up to Rs 3,750 crore ($450 million) in fresh capital alongside an offer-for-sale (OFS) segment of up to Rs 6,664 crore ($800 million)

Ordering food from Zomato to get costlier as the company hikes platform fee

Zomato processes somewhere between 2-2.2 million orders daily, suggesting that a Rs 1 increase, from Rs 4 to now Rs 5, could boost the company's quarterly earnings