Page 24 - Swiggy

Swiggy enters credit card space, launches co-branded product with HDFC Bank

Card will operate on Mastercard's payment network; rollout in phases on Swiggy app overnext 7-10 days

Swiggy announces 2nd tranche of ESOP liquidity programme for employees

On-demand convenience platform, Swiggy on Monday announced the second tranche of its committed USD 50 million (nearly Rs 410 crore) ESOP liquidity programme for eligible employees. Swiggy had in 2021 committed to a two-year ESOP liquidity programme for 2022 and 2023 and the first tranche of USD 23 million (over Rs 180 crore) was announced in June last year. In a blogpost, Swiggy said it has initiated "the second tranche of its committed ESOP liquidity program totalling USD 50 million". As part of this planned 2-year ESOP liquidity program, Swiggy said, "Employees will have the option to receive liquidity totalling up to USD 50 million against their ESOPs. This event will also see eligible employees from Dineout which Swiggy acquired last year participate." Over 2,000 employees are eligible, including those who transitioned from Dineout, it added. Swiggy Head of HR Girish Menon said the ESOP programme was announced to enable consistent wealth creation for employees "through two ...

Swiggy announces second tranche of ESOP buyback plan totaling $50 mn

Employees who moved from Dineout after Swiggy bought it last year, will also be eligible for the liquidity programme

Swiggy set to buy back Esops worth $50 million from its 2,000 employees

The Esop liquidation exercise was part of Swiggy's announcement in 2021, where the company had said that its employees would be rewarded for their performance in 2022 and 2023

Swiggy builds generative AI-powered search for personalised recommendations

Dubbed neural search, the new AI features will allow users to search for dishes and restaurants using conversational and open-ended queries and receive recommendations tailored to their specific needs

Swiggy forms five-member dedicated team to work on artificial intelligence

The food and grocery delivery firm has already been experimenting with technology by using AI to create images of food products

Swiggy to acquire retail distribution firm LYNK for undisclosed amount

Food and grocery delivery platform Swiggy on Thursday said it has entered into a definitive agreement to acquire LYNK Logistics Limited for an undisclosed amount. The deal paves the way for Swiggy's entry into India's massive retail market with a technology-led distribution platform. LYNK will continue to operate as an independent business post the acquisition led by its co-founder and CEO Shekhar Bhende, Swiggy stated. It enables leading FMCG brands to grow their retail presence through its network of over 1,00,000 retail stores across the top eight cities. "With this acquisition, Swiggy enters India's food and grocery retail market, which is amongst the world's largest and fastest-growing, estimated to be more than USD 570 billion in size and expected to grow at 8 per cent year-on-year," Swiggy noted. Post-acquisition, LYNK will leverage Swiggy's strength in technology and logistics to rapidly scale the existing platform.

Swiggy introduces 'WhatToEat' feature offering customised food choices

Online food delivery platform Swiggy on Tuesday said it has introduced an industry-first 'WhatToEat' feature aiming to simplify the selection process by offering personalised recommendations tailored to users' current moods, location, order history, the time of the day and other preferences. Users can now indicate what they are craving by selecting from a range of mood bubbles on the app, Swiggy stated. The feature will inform users of the rationale behind each recommendation, whether it's based on their order history, local trends, or popularity among other Swiggy users. To streamline the decision-making process, WhatToEat presents users with ten personalised recommendations for each order, cutting through the overwhelming number of choices, the food delivery platform stated.

Zomato keeps its lead over Swiggy, gross merchandise value jumps 26%

In its annual report earlier this week, Prosus - Swiggy's biggest investor with a 33 per cent stake in the company - indicated that Swiggy's losses jumped 80 per cent year-on-year (YoY) between Jan 1-

Zomato is now allowing its users to build multiple carts at one time

The feature, introduced as part of its latest app update, will help users to build carts from up to four restaurants

Swiggy's losses jump 80% YoY and PayU business rev up 31%: Prosus

Swiggy's core restaurant food delivery business, Prosus said, recorded GMV growth of 26 per cent, while Instamart -- its quick commerce vertical - grew its GMV by 459 per cent

Even as commissions bite, eateries struggle to replace Swiggy, Zomato

While these platforms have helped increase the demand, their high commission rates eat into restaurants' profits

Even with smaller incentives by Centre, daily orders on ONDC touch 30,000

ONDC's majority of retail orders come from the food and beverage category, with a small amount coming from the grocery category

Competition Commission of India lens on Big Tech as Apple probe nears end

The new Chairperson, Ravneet Kaur, along with other members, is expected to take up the matter in their meeting soon, along with several other pending cases against Big Tech companies

ONDC limits discounts to Rs 100 per order in new incentive scheme

The cap for maximum price incentive has been fixed at Rs 100 per order and it should not exceed 50% of the order value, including shipping charges

Biryanis, condoms, Jalebi-Fafda & soup bowls: What we Swiggy'd in IPL 2023

Biryani remains the most-ordered dish on delivery platform Swiggy, during the cricketing extravaganza, which came to a close in the wee hours of Tuesday

Swiggy Announces Biryani for 'Most Ordered Food' during IPL Season

At Swiggy, with 212 orders per minute, Biryani wins as the most frequently ordered dish during IPL 2023

Swiggy's food delivery business turned profitable in March: CEO Majety

Rare for global food delivery platforms to achieve profitability in less than 9 years, he says

Can ONDC upset Swiggy/Zomato duopoly to disrupt the food delivery market?

Although ONDC's hyperlocal tilt gives small sellers effective inroads in e-commerce, disruption in food delivery market will be contingent on building scale, meeting quality set up by Swiggy, Zomato

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