At Swiggy, with 212 orders per minute, Biryani wins as the most frequently ordered dish during IPL 2023
Rare for global food delivery platforms to achieve profitability in less than 9 years, he says
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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However, the new e-commerce platform has a long way to go before it can match the technological and service capabilities of companies like Amazon, Flipkart, Swiggy, Zomato, and others
In January last year, Swiggy raised $700 million in a funding round that was led by Invesco and saw participation from a host of investors including Baron Capital Group
The report citing sources added that e-commerce platform Flipkart is also hopping on the bandwagon and has started its work for UPI offerings
Recently, ONDC has gained a lot of traction because of the stiff competition it is posing to major food aggregators like Swiggy and Zomato
Waayu's launch comes at an interesting time when the government-backed Open Network for Digital Commerce platform is gaining more traction, following Swiggy's decision to charge Rs 2 platform fee
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The revised valuation represents a massive 49% decrease from the $10.7 billion valuation
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E-food delivery majors may instead partner the govt network
This is the second time Invesco has trimmed the valuation of Swiggy, which is backed by SoftBank and Prosus
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ONDC intends to bring the benefits of digitisation to millions of sellers and resellers in the country
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ONDC is not an app but a facilitative platform designed to "revolutionise" digital commerce
Downloads of food delivery apps like Zomato, Swiggy, Domino's, etc. have gone up in April over February
This comes days after Swiggy closed down its premium grocery delivery offering, Handpicked, just six month after it was introduced as a pilot in Bengaluru