Page 25 - Zomato

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.

Zomato receives RBI approval to operate as online payment aggregator

The Gurugram-based food delivery major had, last year, announced a partnership with ICICI Bank to launch its own payments business, Zomato Pay

Zomato Payments gets RBI approval to operate as payment aggregator

January 24 2024 onwards, ZPPL has the authorisation to act as a payment aggregator and issuer of prepaid payment instrument

Zomato to distribute Bluetooth-enabled helmets to all delivery partners

Zomato said it distributed over 250,000 wearable assets to its delivery partners in 2022-23

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

Zomato to support 300,000 restaurants, empower 1 mn gig workers by 2030

The company aims to facilitate 100 per cent of its deliveries through EVs by 2033 and carry out the delivery of 100 million plastic-free food orders by 2025

Invesco raises valuation of Indian food delivery firm Swiggy to $8.3 bn

US asset manager Invesco has raised the valuation of Indian food delivery platform Swiggy to $8.3 billion from $7.85 billion in October in a second straight markup, regulatory filings showed

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

Amid fuel crisis, Zomato agent rides horse to deliver food in Hyderabad

A Zomato agent in Hyderabad took the streets by storm, not on a motorbike, but on a horse, to deliver orders amid the fuel crisis

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

Zomato increases platform fee to Rs 4 from Rs 3 in select markets

The fee is levied on all customers, regardless of whether they are part of the company's loyalty programme Zomato Gold, which provides benefits such as free deliveries and increased discounts

Zomato receives Rs 402 cr GST show cause notice, says 'not liable to pay'

The company claimed that it is not liable to pay the penalty for the period from October 29, 2019, to March 31, 2022

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

Stocks to Watch today: Zomato, KPI Energy, Banks, M&M, Bata, Kansai Nerolac

Stocks to watch on Thursday, December 28, 2023: Azad Engineering to list today. National Aluminium and RBL Bank only two stocks in futures & options ban period on expiry day.

Food delivery major Zomato denies it is acquiring logistics firm Shiprocket

Deal for $2 bn is 'incorrect news, media speculation', says company in response to reports

Zomato denies reports of an offer to acquire Shiprocket for $2 billion

Earlier, Bloomberg had reported that Zomato had made an offer to acquire Shiprocket

Stocks to Watch: Adani Green, LIC, Tata Motors, Zomato, Railtel, Allcargo

Stocks to watch on December 22, 2023: The BSE and NSE have approved the cancellation of 'A' ordinary shares (DVR) of Tata Motors

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 looks to venture into catering business to expand market share

Zomato had launched a multi-cart option in June which helps users to order from several restaurants at the same time