Swiggy's FY23 Revenue Hits Rs 8,265 Crore, Net Loss Widens by 15%
Swiggy's FY23 Revenue Hits Rs 8,265 Crore, Net Loss Widens by 15%

Swiggy, the food and grocery delivery company, witnessed a significant 45% surge in operating revenue for the fiscal year concluding in March 2023, reaching Rs 8,265 crore.

Despite this growth, the company experienced a 15% increase in net loss, totaling Rs 4,179 crore.

The company supported by Prosus, presently preparing for its initial public offering (IPO), invested substantially in the expansion of its quick-commerce segment, Instamart, during the reviewed fiscal year.

According to regulatory documents obtained from Tofler, Swiggy incurred significant expenses amounting to Rs 12,884 crore in the fiscal year ending in 2023, reflecting a notable 34% year-on-year increase.

Apart from the procurement of stock-in-trade, Swiggy's most substantial cost category was advertising and promotional expenses.

The company's marketing expenditure rose to Rs 2,362 crore, constituting 28% of operating revenue in FY23, a decrease from 44% in FY22.

Employee benefit expenses at Swiggy, headquartered in Bengaluru, increased to Rs 2,130 crore in FY23, compared to Rs 1,708 crore in the preceding year.

In January of the previous year, Swiggy had undertaken a companywide restructuring initiative, resulting in the termination of 380 employees.

In May of the preceding year, Sriharsha Majety, Swiggy's co-founder and CEO, announced that the company's food delivery segment had achieved profitability by March 2023, accounting for all corporate costs except for employee stock option costs.

 

 
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Zomato and Swiggy Address CCI Investigation, Affirm Compliance with Competition Laws
Zomato and Swiggy Address CCI Investigation, Affirm Compliance with Competition Laws
 

In light of an ongoing Competition Commission of India (CCI) investigation into potential anti-competitive practices, Zomato and Swiggy have reiterated their commitment to adhering to competition regulations and clarified that the CCI has not made any final decisions.

Both companies labeled recent reports on the CCI’s probe as “misleading,” stating that these reports incorrectly suggest that final determinations on alleged unfair practices, such as preferential treatment for certain restaurant partners, have been made. Zomato, in a regulatory statement, clarified that the CCI issued a preliminary order on April 4, 2022, mandating the Director General's office to examine possible violations of the Competition Act.

In response, Zomato stated, “Since the intimation of April 5, 2022, the CCI, on merits, has not passed any order. The aforementioned news article is misleading.” The company further asserted, “We will continue to work with the CCI to explain why our practices comply with the Competition Act and they don’t have any adverse effect.”

Swiggy also addressed the media reports, expressing that some coverage confuses the investigative process with a final conclusion. "Based on order of the CCI dated April 5, 2022, the Director General probed certain aspects of the conduct of our business, and its inquiry and report of March 2024 is a preliminary step in an ongoing probe by the CCI, and not a final decision as some reports suggest,” Swiggy stated.

As Zomato and Swiggy continue to operate within the competitive landscape of India's hospitality and food retail sectors, both companies assert their commitment to regulatory compliance amid the ongoing CCI review.

 

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Swiggy Launches Market Intelligence Dashboard to Empower Restaurant Partners
Swiggy Launches Market Intelligence Dashboard to Empower Restaurant Partners
 

Swiggy, India’s pioneering on-demand convenience platform has announced the launch of Market Intelligence Dashboard, a powerful tool designed to provide restaurant partners with comprehensive and actionable insights into their performance vis à vis the market. 

This new dashboard aims to equip restaurants with the data they need to enhance their business strategies and operational efficiency.

The dashboard offers distinct insights to support various aspects of a restaurant’s operations:

1.    Overview Tab: Provides a holistic view of a restaurant's performance compared to the market, including key metrics like business, operations, customer, and spending. This tab offers an overall score and scores in each area, allowing partners to benchmark their performance. 

2.    Business Metrics Tab: Focuses on essential business indicators such as order growth and average order value. This tab benchmarks these metrics against industry best-in-class, helping restaurants identify areas for business growth and improvement.

3.    Operational Metrics Tab: Evaluates operational efficiency through metrics like order cancellations, availability, and customer complaints. By highlighting areas needing attention, this tab ensures that restaurants can maintain high standards of service consistently.

4.    Funnel Metrics Tab: Analyses customer behaviour and conversion rates, providing insights into how customers interact with the restaurant’s menu and services. This information is vital for optimizing menu offerings and improving overall customer satisfaction.

5.    Spend Metrics Tab: Tracks marketing investments on Swiggy, including ads and discounts. This tab allows restaurants to measure the effectiveness of their marketing effort, helping them to optimize their marketing spend.

“The Market Intelligence Dashboard is a powerful tool for our restaurant partners, helping them navigate a highly competitive food delivery industry. It effectively helps partners benchmark their performance versus the best in class, understand their areas of improvement or strength and make informed business decisions,” shared Deepak Maloo, AVP – Supply.

The Market Intelligence Dashboard is available to all of Swiggy’s restaurant partners, offering them the convenience of a self-serve format. This accessibility ensures that restaurants of all sizes can leverage the tool to enhance their competitive edge.

 

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Swiggy Transitions to Public Limited Company Ahead of IPO
Swiggy Transitions to Public Limited Company Ahead of IPO
 

Swiggy has officially transformed from a private limited company to a public limited one in anticipation of its upcoming stock market debut later this year, as per documents filed with the Registrar of Companies.

The holding company of the prominent food-delivery and quick-commerce leader has been renamed from Swiggy Private Limited to Swiggy Limited.

This adjustment coincides with the company's intentions to submit a draft red herring prospectus in the coming months, paving the way for an anticipated $1 billion initial public offering towards the end of the year.

Swiggy is part of a cohort of modern internet firms aiming to debut on public stock exchanges.

Towards the end of last year, companies such as Ola Electric, FirstCry, and Awfis submitted their draft IPO documents.

Additionally, Honasa Consumer, the parent company of beauty and personal care brand Mamaearth, made its public debut in November.
 

 

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Hyderabad Swiggy User Splurges Rs 7.3 Lakh on Idlis in a Year
Hyderabad Swiggy User Splurges Rs 7.3 Lakh on Idlis in a Year
 

Swiggy has revealed intriguing findings about the nation's affection for Idlis as it marks World Idli Day annually on March 30th.

The examination, spanning from March 30, 2023, to March 25, 2024, illuminates the widespread fondness for this South Indian specialty among Indian consumers.

Over the last year, Swiggy has distributed millions of servings of Idlis, highlighting the dish's significant appeal across the country. Bangalore, Hyderabad, and Chennai stand out as the top three cities for Idli orders, with Mumbai, Pune, Coimbatore, Delhi, Vizag, Kolkata, and Vijayawada closely following suit.

A Swiggy customer from Hyderabad has distinguished themselves for their adoration of Idlis, having invested an astounding INR 7.3 lakh on this South Indian favorite in the past year.

The examination also discloses that the prime period for Idli orders spans from 8 AM to 10 AM, with individuals from cities such as Bangalore, Hyderabad, Chennai, Coimbatore, and Mumbai also relishing Idlis during dinner hours.

The traditional plain Idli stands out as the preferred choice across all urban centers, typically ordered in servings of two pieces.

In Bangalore, Rava Idli holds a distinct appeal, while ghee/neyi karam podi Idli gains favor in Tamil Nadu, Andhra Pradesh, and Telangana. Additionally, Thatte Idli and mini Idli consistently feature in Idli orders across various cities.

According to Swiggy's findings, Idlis hold the position of the second most frequently ordered breakfast item on the platform, trailing closely behind masala dosa.

As per Swiggy's observations, the majority of customers opt to complement their favorite Idlis with accompaniments such as sambar, coconut chutney, karam podi, medu vada, saagu, ghee, red chutney, Jain sambar, tea, and coffee.

Swiggy underscores the leading eateries celebrated for their delectable Idlis: Asha Tiffins in Bangalore, A2B - Adyar Ananda Bhavan in Bangalore and Chennai, Varalakshmi Tiffins in Hyderabad, Sree Akshayam in Chennai, and Veena Stores in Bangalore.

 

 

 

 

 

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Despite Losses, Swiggy Forges Ahead with IPO Plans
Despite Losses, Swiggy Forges Ahead with IPO Plans
 

Indian food delivery leader Swiggy reported a loss of $200 million for the nine months ending in December 2023, as per an internal document.

The company, aiming for a stock market debut, disclosed this financial information.

Sources previously informed Reuters that the SoftBank-backed firm might go public by the conclusion of this year.

Despite the flourishing state of India's stock market, both domestic and foreign investors have become cautious about Indian startup IPOs due to apprehensions regarding inflated valuations of companies that continue to incur losses.

According to the document, Swiggy incurred a loss of 41.8 billion rupees (equivalent to USD 500 million) for the entire fiscal year 2022-23.

However, a confidential source familiar with the situation, who preferred to remain anonymous, revealed that the company's reduction in wage payouts and marketing expenditure would aid in reducing losses for the entire fiscal year 2023-24.

According to the document, losses amounted to 17.3 billion rupees (equivalent to USD 207 million) for the period spanning from April to December 2023, marking the initial nine months of the fiscal year 2023-24.

During the same period, the document indicated that the loss was incurred on a revenue of USD 1.02 billion, compared to the fiscal year 2022-23 revenue of USD 1.05 billion. Swiggy did not provide any response to inquiries seeking comment.

India's stock market has seen a 28% increase over the last year, leading to numerous companies considering going public.

However, they are encountering discerning investors in the process.

Since its listing in 2021, digital payments company Paytm, which is still operating at a loss, has witnessed an 80% decline in its shares.

Analysts had criticized the company for overvaluing itself at the time of its listing.

Following its listing in 2021, Zomato, a competitor of Swiggy, experienced a significant decline in its shares.

However, this year, its shares have surged by 45% following two consecutive quarters of profitability.

Investors valued Swiggy at USD 10.7 billion in 2022. Initially focusing on meal deliveries, the company has diversified its services to include grocery deliveries and restaurant reservations over time.

 

 

 


 

 

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Simpl Expands Zomato Integration with 1-Tap Checkout on Gold, Intercity Legends & Everyday
Simpl Expands Zomato Integration with 1-Tap Checkout on Gold, Intercity Legends & Everyday
 

Simpl, India's leading Checkout Network has unveiled an extended collaboration with Zomato.

This expansion integrates Simpl's 1-Tap Checkout feature with Zomato Gold, Intercity Legends, and Zomato Everyday, aiming to elevate convenience for numerous customers nationwide.

The initiative seeks to boost conversions, elevate average order value, and enhance user retention on the platform, among other benefits.

This expansion aligns with Zomato's overarching goal of providing enhanced food experiences conveniently to its customers.

By integrating Simpl's 1-Tap Checkout into Zomato, both companies anticipate the participation of millions of new and existing users, broadening the scope of services offered.

This development holds importance as Simpl has surpassed 100 million checkouts on Zomato within six years since 2017, indicating a robust consumer inclination towards streamlined checkout experiences.

The expansion will be fueled by the rising influx of customers from tier-3 cities and beyond transitioning to online platforms, alongside the escalating frequency of orders from customers in metropolitan and tier-1,2 cities.

This trend is further supported by an expanding customer base seeking convenience through Simpl's 1-Tap Checkout.

Both companies anticipate substantial growth in their clientele over the upcoming years as a result.

“Convenience is becoming a real differentiator in e-commerce today after selection and affordability, particularly with respect to food ordering and delivery, where customers transact more frequently than for any other category. This necessitates the need for a hassle free checkout solution which offers near zero transaction failures and a 1-Tap experience. These fundamentals have driven more than 100 million transactions on Zomato till date and we are excited to cater to a larger customer base with the Zomato Gold, Intercity Legends and Zomato Every day, helping further deepen our presence in this space”. said Nitya Sharma, Founder and Chief Executive Officer, Simpl.

The remarkable checkout success rate of 99% achieved through Simpl's 1-Tap feature on Zomato underscores customers' growing preference for added convenience.

Over the past five years, Simpl's contribution to the platform's checkout process has witnessed substantial growth. Moreover, spending per user via 1-Tap checkout has surged by nearly 27 times since 2018.

Notably, on New Year's Eve 2024, the platform recorded its highest-ever single transaction amounting to Rs 18,807 facilitated through Simpl's 1-Tap Checkout on Zomato.

 “Our endeavour is to deliver exceptional and convenient customer experience at all times. Simpl has been our long standing partner and the integration across offerings has allowed us to extend 1-Tap access to our customers, making their interaction with the platform seamless and hassle free". said Rakesh Ranjan, Chief Executive Officer, Food Delivery, Zomato.

Simpl's 1-Tap Checkout, accessible through 26,000 merchants, provides a seamless checkout experience with minimal transaction errors, making it the choice for millions of consumers.

Presently, numerous prominent enterprises and emerging Direct-to-Customer (D2C) merchants in the food and hyperlocal delivery sectors extend Simpl's 1-Tap Checkout to millions of their customers nationwide.

 

 

 

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Swiggy Launches Nationwide 'Delivering Safely' Charter for Delivery Partner Safety
Swiggy Launches Nationwide 'Delivering Safely' Charter for Delivery Partner Safety
 

Swiggy has introduced a nationwide road safety initiative called 'Delivering Safely,' reinforcing its dedication to ensuring the well-being of its delivery partners.

As a prominent figure in food, quick commerce, and various on-demand services, Swiggy operates with over 300,000 delivery partners across more than 600 cities nationwide.

Swiggy's delivery partners collectively cover an impressive distance of 3.6 billion kilometers annually, equivalent to approximately 90,000 trips around the Earth's equator.

In recent years, Swiggy has been actively engaged in raising awareness among its delivery partners, simplifying the process for them to report safety incidents and enabling Swiggy to take prompt action.

"Swiggy's mission is rooted in making urban life more convenient for our customers. Improving road safety in our cities is not just a goal; it's a necessity for enhancing the daily lives and safety of everyone. Congestion is a genuine concern, and as providers of food delivery, quick commerce, and other on-demand services, we believe we're playing a practical role in alleviating this issue." said Rohit Kapoor, CEO of Food Marketplace, Swiggy.

Swiggy ensures comprehensive support for its delivery partners' safety and well-being through various initiatives. This includes accidental medical coverage providing INR 2 lakh for medical expenses and INR 10 lakh as death cover, with over INR 31 Crores disbursed in insurance claims during FY23.

Additionally, Swiggy introduced an industry-first on-demand ambulance service, with an average response time of 11 minutes, for its delivery partners and their families.

In the event of any incident, Swiggy guarantees a minimum income to delivery partners to aid in their recovery, aligned with the average earnings in their respective cities.

Road safety awareness workshops are conducted in collaboration with state traffic police departments to promote safe driving practices, complemented by access to advanced safety gear.

Furthermore, Swiggy is developing an advanced telematics project to monitor driving behaviors and provide specialized training to at-risk delivery partners based on data analysis.

 

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Zomato Reports Q3 Net Profit of Rs 138 Crore
Zomato Reports Q3 Net Profit of Rs 138 Crore
 

Zomato Ltd, an online food delivery company, announced a consolidated net profit of Rs 138 crore for the December quarter.

This marks a significant turnaround from the consolidated net loss of Rs 347 crore reported in the same quarter of the previous fiscal year, as stated in a regulatory filing by Zomato Ltd on Thursday.

In the third quarter of the current fiscal year, consolidated revenue from operations amounted to Rs 3,288 crore, compared to Rs 1,948 crore recorded in the corresponding period last year, according to the company's statement.

The company recorded an increase in total expenses, reaching Rs 3,383 crore, up from Rs 2,485 crore in the same period last year, according to the company's statement.

 

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Tata Group to Enter Food Delivery Segment; Challenge Swiggy, Zomato
Tata Group to Enter Food Delivery Segment; Challenge Swiggy, Zomato
 

According to a MoneyControl report, Tata Group is said to be gearing up for an entry into the online food delivery industry.

Utilizing the government's Open Network for Digital Commerce (ONDC), Tata's 'super app', Tata Neu, aims to launch its own food ordering service. The report, referencing four informed individuals, highlighted these upcoming developments.

The Tata Neu app currently features a food category section, displaying menus exclusively from restaurants affiliated with the Tata Group's hotel company, which operates the Taj brand.

The report suggests that integrating with ONDC could enable the app to access a wide range of eateries across various cities already connected to the network.

As per the report, Swiggy and Zomato dominate over 95 percent of the food delivery market. Additionally, the two companies collectively processed nearly USD 6 billion in gross order value during the fiscal year 2023.

According to the report, Gaurav Porwal, a senior vice president at Tata Digital, is spearheading the ONDC initiative at Tata Neu.

This branch of the conglomerate also encompasses acquired consumer internet ventures such as the online grocer BigBasket and online pharmacy 1mg.

The report indicates that Tata Neu will function as a buyer-side application within ONDC, operating in the business-to-consumer capacity.

This approach is anticipated to make its foray into food ordering cost-efficient, as it won't require deploying a fleet of delivery riders or persuading restaurants to list on the app.

In the government-supported network, a single entity isn't required to manage every aspect of an e-commerce transaction independently.

Various participants can handle customer orders, logistics, and merchant onboarding collectively.

The report further mentioned that Tata Neu is collaborating closely with Magicpin, supported by Zomato, for its ONDC integration.

This Gurgaon-based startup is assisting the company as a technology service provider for the front end.

Magicpin has also aided other firms, including fintech leader Paytm and ride-hailing service Ola, in integrating with ONDC.

Additionally, Magicpin holds the distinction of being the foremost seller-side platform on ONDC with regard to restaurant enlistment.

The startup has successfully onboarded over 50,000 eateries onto the network. Magicpin fulfills three roles within ONDC: technology service provider, seller-side application, and buyer-side application.

 

 

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Swiggy Appoints Ashwath Swaminathan as Chief Growth & Marketing Officer
Swiggy Appoints Ashwath Swaminathan as Chief Growth & Marketing Officer
 

Swiggy today announced a significant addition to its senior leadership team with the appointment of Ashwath Swaminathan as Chief Growth & Marketing Officer. 

Ashwath will be responsible for building and executing Swiggy’s growth and marketing strategy designed to engage new and returning customers, driving innovation, and exploring strategic collaborations to strengthen its market position. 

“Ashwath brings with him the right experience and a strong track record of strengthening consumer brands and growth marketing through data-driven insights and strategic collaborations. He joins Swiggy at a time of unprecedented opportunity, and we’re excited by the critical role he will play in bringing our mission of unparalleled convenience to life,” shared Sriharsha Majety, Group CEO of Swiggy.

Prior to joining Swiggy, Ashwath served as the Vice President of the Oral Care & Deodorants business at Hindustan Unilever Limited (HUL). With over two decades of experience, he brings a wealth of knowledge in consumer insights, marketing, and business innovation across categories such as tea, coffee, makeup, skincare, oral care & deodorants. His impressive track record at HUL includes leading the development of the green tea category, accelerating Lakme’s growth by making it a purpose-led future-fit brand and delivering high growth on oral care to make HUL a strong no.2 player.

“Swiggy is a well-loved and fast-growing brand. I look forward to helping elevate the Swiggy brand for the next chapter of innovation and growth and make it an iconic brand by offering unparalleled convenience to urban Indians,” added Ashwath Swaminathan, Chief Growth & Marketing Officer, Swiggy.

Swiggy has further fortified its leadership team with key appointments, welcoming industry experts to pivotal roles. The recent additions include Anirban Roy - VP - Growth, Revenue & Category, Swiggy instamart and Dipak Krishnamani - VP Swiggy Mall.
 

 

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Zomato and Stripe Receive RBI Approval for Online Payment Aggregator
Zomato and Stripe Receive RBI Approval for Online Payment Aggregator
 

Zomato, a food-delivery platform and Stripe, an international financial infrastructure provider, have both secured final approval from the regulator to operate as online payment aggregators.

Zomato obtained approval from the Reserve Bank of India (RBI) on January 24, while Stripe received the green light on January 15.

The recent approvals bring the total number of entities granted the regulator's final authorization to operate as online aggregators in the country to 11.

In December of the previous year, the RBI granted final approval to payment gateways Razorpay and Cashfree to function as payment aggregators. This clearance allowed them to onboard new merchants, marking the end of a year-long embargo.

During a similar timeframe, Google Pay, the prominent player in payments, along with expense management platform Enkash and neo-banking startup Open Financial, also obtained approval from the regulator.

In a BSE filing on Thursday, Zomato announced that its subsidiary, Zomato Payments Pvt Ltd has received approval from the RBI to function as a payment aggregator.

As per an informed source, the Gurugram-based company has no intention of entering the fintech sector as an independent entity. Instead, it is obtaining financial services licenses to enhance its offerings within its own ecosystem.

"Internally, the company has been deliberating on leveraging its payment processing infrastructure across various apps catering to both consumers and merchants, including services such as food delivery, dining out, Blinkit, Hyperpure, and more," stated the individual.

In 2022, Zomato established a non-banking financial company (NBFC) and submitted an application for a license to provide lending products specifically designed for its restaurant partners.

In that same year, Zomato introduced Zomato Pay as the third version of its dining out program, enabling customers to make payments and access discounts at partner restaurants through the Zomato app.

The central bank has been implementing thorough checks at various levels to ensure the careful selection of companies for the ultimate approval to function as a payment aggregator.

The RBI had additionally prohibited other payment gateways, including Paytm and PayU, from bringing onboard new merchants. Both entities were instructed to submit their applications again.

 


 


 

 

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Swiggy Teases Rs 10 Rise in Platform Fee
Swiggy Teases Rs 10 Rise in Platform Fee
 

In a strategic move aimed at minimizing losses and improving financial viability in anticipation of its upcoming public listing later this year, Swiggy is said to be considering doubling its platform fee for food orders.

The suggested adjustment involves raising the current platform fee of Rs 5 to Rs 10 per food order and is a key element of Swiggy's ongoing initiatives to streamline its financial performance.

As per sources, Swiggy has reportedly commenced trials of the envisioned fee structure within its app, focusing on specific users.

This move follows the company's introduction of the platform fee model in April 2023, where an initial extra charge of Rs 2 was applied to specific food orders, irrespective of the order size.

Having noted that the supplementary fee did not negatively affect order quantities, Swiggy extended the platform fee to include all users.

Gradually, the company increased the fee to its present Rs 5, and certain customers continue to pay Rs 3, although the rationale behind the tiered system remains undisclosed by the company.

As per a spokesperson from Swiggy, "There have been no alterations to Swiggy's platform fee, and there are no imminent plans for a substantial increase. We consistently conduct minor experiments to gain a better understanding of consumer preferences. The recent trial was one such experiment, and its expansion in the future will depend on its success in aligning with our goal of providing the best service to our users. Continuously seeking ways to enhance affordability, our latest initiative, Pockethero, is an illustration of this commitment. Pockethero, tailored for budget-conscious consumers, is currently being rolled out nationwide."

Significantly, Zomato, a key rival of Swiggy, has similarly raised its platform fee from Rs 2 to Rs 5 in specific instances.

The implementation of an extra charge on each order has emerged as a prevalent tactic adopted by food delivery firms, aiding in bolstering their financial well-being, given the substantial daily order volumes managed by these platforms.

Although Swiggy has not formally introduced the Rs 10 platform fee, the company has previously hinted at higher amounts, temporarily reduced certain fees, and later raised charges.

This step-by-step strategy is anticipated to be employed if the intended outcomes are realized.

Swiggy's co-founder and group CEO, Sriharsha Majety, shared with the media at Davos, emphasizing the company's dedication to expansion. He highlighted that Swiggy Instamart, the rapid-commerce division, will be a central driver in the company's future growth.

While placing emphasis on Instamart, Swiggy remains committed to innovation within its food delivery sector by introducing more affordable food choices to appeal to a wider customer demographic.

As the platform fee trial progresses, both the industry and users will keenly observe Swiggy's strategy and its implications for the overall food delivery sector.

 

 

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Invesco Boosts Swiggy's Valuation to $8.3B in US Investment
Invesco Boosts Swiggy's Valuation to $8.3B in US Investment
 

Invesco, a US-based investment firm, elevates the valuation of Swiggy, the food delivery platform gearing up for an IPO, to approximately $8.3 billion.

According to regulatory filings, this marks the second consecutive occasion where the global asset management firm has raised Swiggy's valuation.

Last October, Invesco raised the valuation of the food delivery platform to approximately $7.85 billion.

In January 2022, Swiggy achieved a valuation of $10.7 billion following a round spearheaded by Invesco

In May last year, Invesco slashed Swiggy’s valuation in its holding to about $5.5 billion.

In November, Prosus, an investor in Swiggy, noted in its financial filing that Swiggy's primary food delivery segment experienced a 17% growth and generated a gross merchandise value (GMV) of $1.43 billion during the initial six months of FY24.

Prosus attributed this to an increase in active users, resulting in a double-digit surge in orders and a rise in average order value due to inflation.

Prosus, with a 32.7% stake in Swiggy, reported a decrease in trading losses to $208 million.

The company also stated that rapid progress was made in the quick-commerce business due to increased customer adoption, leading to significant growth in orders.

Basket sizes expanded significantly more than inflation. Over the past year, Swiggy facilitated the distribution of loans totaling Rs 102 crore, with Rs 10.1 crore disbursed just in November.

In FY23, Swiggy incurred losses totaling about $545 million, marking an 80% surge from approximately $300 million in FY22.

 

 

 

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Zomato Increases Platform Fee by 33 percent in Major Markets
Zomato Increases Platform Fee by 33 percent in Major Markets
 

Zomato, the online food delivery giant, has implemented a 33% hike in its platform fee for users in important markets, raising it to Rs 4 per order from the earlier Rs 3.

On New Year's Eve, the company temporarily increased the fee to a maximum of Rs 9 per order in specific markets. This fee surge aligned with Zomato's high order volume on December 31.

CEO Deepinder Goyal shared on X that the order volumes surpassed the combined figures of the previous six years' New Year's Eve, spanning from 2015 to 2020.

The Gurugram-headquartered company implemented a uniform flat platform fee in August 2023, initially set at Rs 2 per order and subsequently raised to Rs 3 in most significant markets.

Likewise, Zomato's competitor, Swiggy, initiated a Rs 2 fee last year, later upping it to Rs 3.

As per the report, Zomato applies the platform fee on top of the delivery charge. Nevertheless, this delivery fee is exempted for participants enrolled in its loyalty program, Zomato Gold, where members pay an initial fee and gain benefits like discounts and complimentary deliveries. The platform fee is also applicable to Zomato Gold members.

During the July-September quarterly results, Zomato's leadership correlated the improvement of its take rate, which signifies the percentage of revenue earned per food delivery order, with the introduction of the platform fee.

In the September 2023 quarter, Zomato announced a post-tax profit of Rs 36 crore. The company notified its shareholders, via a filing, that the revenue from operations surged by 71% in Q2 FY24, hitting Rs 2,848 crore.

This expansion was driven by a 47% increase year-over-year in gross order values (GOV) encompassing food delivery, quick commerce segments, and activities related to dining out and live events.
 

 

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Zomato Refutes Acquisition Talks with Shiprocket Amidst Rumors
Zomato Refutes Acquisition Talks with Shiprocket Amidst Rumors
 

Zomato's CEO, Deepinder Goyal, responded to media speculation, stating that the company currently has no intentions of pursuing an acquisition, contrary to reports suggesting a $2 billion offer for Shiprocket.

Goyal addressed circulating mainstream media articles claiming Zomato's $2 billion offer to acquire Shiprocket, firmly denying the statement. He cautioned investors about the inaccuracies in the news and emphasized Zomato's current focus on existing ventures, confirming no immediate plans for acquisition.

Previously, certain media sources inaccurately reported Zomato's alleged offer of approximately $2 billion (about Rs 16,600 crore) to the shipping startup.

Goyal mentioned that although the company typically refrains from addressing such speculations, it's making an exception due to the substantial mentioned deal size.

Zomato's CEO, Deepinder Goyal, dismissed reports of a $2 billion acquisition offer for Shiprocket, affirming that the company currently isn't considering any acquisition.

 

 

 

 

 

 

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Swiggy's Pockethero: Affordable Dining Redefines Food Delivery
Swiggy's Pockethero: Affordable Dining Redefines Food Delivery
 

Swiggy, a prominent on-demand convenience platform in India, reveals the introduction of Pockethero, an affordable solution designed to enhance accessibility and cost-effectiveness for online food ordering among budget-minded customers.

Pockethero guarantees free delivery and discounts of up to 60%, promising substantial savings and positioning itself as the top economical option for consumers.

It is already active in Delhi-NCR, Jaipur, Lucknow, Chandigarh, Pockethero is set to roll out soon in major cities such as Bangalore, Mumbai, Pune, Chennai, Hyderabad, and Kolkata.

"Pockethero aims to make food delivery accessible to a set of users who today may find online food delivery less value for money. True to its name, Pockethero delivers the best of discounts from our partner restaurants and gives free delivery on top of it to give our customers a taste of convenience without having to think much about their pockets! As a company, we keep innovating on behalf of our customers, and this is one other initiative that is being piloted by our teams"  said Sidharth Bhakoo, VP, National Business Head at Swiggy.

Swiggy continues its dedication to creating a win-win situation for both users and restaurant partners, further solidifying its commitment to improving the overall food delivery experience.

Restaurants involved benefit from increased visibility, becoming a preferred choice for users seeking more affordable online food delivery options amidst budget limitations.

Users can explore Pockethero by accessing the Swiggy app, locating it within the Food category, conveniently positioned alongside the Offer zone.

 

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Anand Kripalu Joins Swiggy Board as Independent Director and Chairperson
Anand Kripalu Joins Swiggy Board as Independent Director and Chairperson
 

Swiggy, set for IPO, brings on FMCG expert Anand Kripalu as independent director and Board Chair.

Sriharsha Majety, Swiggy's Group CEO, highlighted Anand Kripalu's extensive experience in consumer goods, emphasizing how his insights will play a crucial role in steering Swiggy's innovation and evolution within India's on-demand delivery sector.

With nearly four decades in the fast-moving consumer goods (FMCG) sector, Anand Kripalu serves as the Managing Director and Global CEO at EPL Ltd (previously Essel Propack Limited), recognized as the world's largest specialty packaging firm.

Before this role, he led as the MD and CEO of Diageo India, a prominent name in India's beverage alcohol industry. Kripalu has also held executive positions at Mondelez International (formerly Cadbury) and Unilever.

Kripalu expressed admiration for Swiggy's impact on food and grocery delivery, acknowledging its unmatched convenience for countless households. He eagerly anticipates contributing his experience and insights as Swiggy continues to mold the future of convenience.

Kripalu earned a Bachelor of Technology in Electronics from IIT, Madras, followed by an MBA from IIM, Calcutta. He further enhanced his education by completing the Advanced Management Program at Wharton Business School.

 

 

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Swiggy's H1 FY24 Food Delivery Revenue Hits $1.43 Billion, Up 17 pc: Prosus
Swiggy's H1 FY24 Food Delivery Revenue Hits $1.43 Billion, Up 17 pc: Prosus
 

Prosus, Swiggy's major investor, revealed that in the first half of Financial Year 2023-24 (H1 FY24), Swiggy experienced a 17% growth in its food delivery segment, achieving a gross merchandise value (GMV) of $1.43 billion.

Prosus, highlighted in its yearly financial report, attributed Swiggy's success to an increase in active users, which fueled a double-digit surge in orders along with a rise in the average order value due to inflation.

The Netherlands-based global assets division of the South African conglomerate Naspers holds a 32.7% share in Swiggy.

In its financial results for H1 FY24, Zomato, a Gurugram-based competitor of Swiggy, reported a gross merchandise value (GMV) of approximately $1.84 billion, surpassing Swiggy's performance in the same period.

Swiggy's gross merchandise value (GMV) continues to exhibit growth at 28%, supported by improving operational metrics.

During H1 FY24, the food delivery platform's trading loss decreased to $208 million, a notable improvement from the $321 million reported in the corresponding period last year.

Prosus stated that during the first half of 2024, the fundamental EBITDA losses in food delivery significantly decreased by 89%. This reduction primarily stemmed from enhancements in contribution margins and operational efficiencies. Overall, this reflects a customer inclination to pay for convenience and restaurants' eagerness to promote for expansion, as per Prosus' interpretation regarding earnings before interest, taxes, depreciation, and amortization (EBITDA).

Instamart, Swiggy's fast delivery service operating in 25 Indian cities, experienced significant advancements as a result of customer-driven order growth.

The size of purchases notably increased well above the rate of inflation. By June 2023, Instamart expanded its store presence by 19%, thereby significantly contributing to a 63% growth in its gross merchandise value (GMV).

In the first half of the fiscal year 2023-24, Instamart experienced a substantial 75% reduction in losses due to its increased scale and enhanced profitability.

Prosus highlighted that a wider range of products, a more concentrated store network, and quicker delivery times have consistently supported the acquisition and retention of customers.

Earlier this year, Swiggy's CEO, Sriharsha Majety, mentioned that the food delivery segment achieved profitability during the March quarter, factoring in corporate expenses and excluding employee stock options.

In October, Invesco, a U.S. fund manager, raised the Bengaluru-based company's valuation to $7.85 billion (around Rs 65,000 crore).

This revision followed two decreases earlier in 2023, marking Invesco as the second investor this year to increase the valuation, marking a surge of almost 43% from the previous $5.5 billion valuation provided by Invesco as of July 31.

In August, Baron Capital, a US-based asset management firm, increased the food aggregator's valuation by 33.9% to $8.54 billion.

On the other hand, Zomato achieved its first profits of Rs 2 crore in Q1 FY24. Subsequently, the company recorded its second consecutive quarter of consolidated net profit, reaching Rs 36 crore in Q2 FY24.

 

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Zomato's Q2 PAT Hits Rs 36 Crore amid Soaring Revenues
Zomato's Q2 PAT Hits Rs 36 Crore amid Soaring Revenues
 

Zomato, the online food delivery platform announced a consolidated profit of Rs 36 crore for the second quarter ending in September 2023, propelled by robust growth in its revenue.

In the same quarter of the previous financial year, the company had posted a loss of Rs 251 crore.

During the current quarter, the revenue from operations amounted to Rs 2,848 crore, marking a significant increase from the Rs 1,661 crore recorded in the corresponding period last year.

As per a regulatory filing, the total expenses for the quarter being reviewed amounted to Rs 3,039 crore, while in the same quarter of the previous year, it was Rs 2,092 crore. Additionally, the company's board has granted approval for the sale of its complete 30% voting rights in ZMT Europe LDA, an associate firm situated in Portugal, for a total sale value of approximately 1.80 lakh euros (equivalent to approximately Rs 1,59,45,300).

In a letter addressed to shareholders, the company also shared that its quick commerce business, Blinkit, has achieved a positive contribution for the first time throughout the entire quarter.

The contribution margin, expressed as a percentage of the gross order value (GOV) in the business, has shown a positive shift from -7.3 percent in Q2FY23 (when the business was acquired) to a current 1.3 percent in Q2FY24.

Deepinder Goyal, Founder and CEO said that the strong growth trend observed in Q1FY24 has persisted into Q2FY24, propelled by robust expansion across all of the company's operations. He also highlighted the company's profitability, mentioning that they achieved their second consecutive profitable quarter, with an Adjusted EBITDA of Rs 41 crore. This represents a substantial improvement compared to the Rs 12 crore profit in the previous quarter (Q1FY24) and a significant turnaround from the loss of Rs 192 crore during the same quarter last year (Q2FY23).

EBITDA, which stands for Earnings Before Interest, Taxes, Depreciation, and Amortization, is a metric employed to evaluate a company's operational efficiency.

Zomato's CFO, Akshant Goyal, expressed that they anticipate a moderate quarter-on-quarter (QoQ) growth in Gross Order Value (GOV) for food delivery in the upcoming quarter, roughly in the high single digits. This growth is expected to result in approximately 25-30 percent year-on-year (YoY) expansion in GOV.

In reference to the recently introduced platform fee, Akshant mentioned that, beginning in Q2FY24, all customers, including Zomato Gold members, are now incurring a modest platform fee, typically ranging from Rs 2 to Rs 5 per order. This fee is implemented to improve the company's long-term economic sustainability while ensuring that their services remain affordable for customers.

Albinder Dhindsa, the founder of Blinkit, mentioned that when comparing year-on-year (YoY) figures, the Gross Order Value (GOV) growth for Blinkit reached 86 percent, aligning with their expectations and past performance. This growth was primarily attributed to increased sales from existing stores, emphasizing their commitment to meeting a wider range of customer needs while maintaining consistent service quality. Additionally, they expanded by 28 new stores during the quarter, resulting in a total of 411 stores by the quarter's end.

Akshant also commented on Blinkit, highlighting that quick commerce experienced more robust growth during festivals compared to food delivery. With major festivals like Navratri, Dussehra, Diwali, and others scheduled for the December quarter, they anticipate another quarter of substantial growth for Blinkit.

 

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Data Insight Platform Launched by Zomato to Support Restaurant Partner
Data Insight Platform Launched by Zomato to Support Restaurant Partner
 

Zomato, the popular food ordering and delivery platform, has introduced an innovative open platform called 'Zomato Food Trends.' This new initiative aims to offer valuable data insights to restaurant partners, according to a recent press release by the company.
 

Brand will provide insights by analyzing data from millions of transactions across the country.
 

According to Zomato's press release, restaurant partners can utilize this platform to access valuable information regarding demand and supply gaps, pricing distribution, and trending demands for various dishes or cuisines. By doing so, they can adapt their strategies and enhance their sales performance.
 

Zomato has extended access to the Zomato Food Trends platform beyond their restaurant partners, making it freely available to the general public as well.
 

 

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Swiggy and Zomato contest Delhi RTO's bike-taxi ban interpretation
Swiggy and Zomato contest Delhi RTO's bike-taxi ban interpretation
 

Food delivery platform, Swiggy and Zomato have lodged a complaint with the Delhi government regarding the issuance of fines to their two-wheeler delivery personnel under the pretext of the bike-taxi service ban in the capital.

The food delivery companies have also asked the government for clarification on the directive, arguing that the notice has been misinterpreted, as the ban is only applicable to bike taxi providers.

In a letter addressed to the government, Swiggy has stated that delivery riders are being fined exorbitant amounts of up to Rs 15,000, under the guise of the bike taxi service ban.

According to a spokesperson from Swiggy, the recent alterations in regulations regarding bike taxi services in Delhi have led to chaos and disturbance for food and quick commerce delivery platforms. Despite the notification being solely applicable to bike taxi service providers, delivery personnel are being mistakenly issued fines.

Zomato has written a letter to the Delhi government's transport department to request clarification on the issue, stating that the RTO officials have misinterpreted the notification.

Dinker Vashisht, who is the Group Vice President in charge of Public Policy, Regulatory, and Sustainability at the online food delivery platform, has stated that the Regional Transport Office (RTO) officials have misconstrued the instructions. As a result, they have begun imposing fines on delivery partners who work with last-mile delivery aggregators, such as food delivery platforms and e-commerce operators.

He has requested immediate intervention on the matter, stating that it has created a disturbance in services and has caused uncertainty among delivery partners. They are now hesitant to provide their services as they fear being fined and subjected to harassment while on duty.

 

 

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Cloud-Kitchen Brand The Ghost Chef launches 'IL Sale'
Cloud-Kitchen Brand The Ghost Chef launches 'IL Sale'
 

Mumbai’s newest delivery kitchen, The Ghost Chef has taken a centre stage since the launch of their Indian and Lebanese cuisine known as ‘Namak’ and ‘Alas’ respectively.

Chef Akhil Multani is now all set to launch another brand under its name - ‘IL Sale’ that will cater to Italian food lovers.

Born from the concept that the soul of a Chef has taken the reins and can be felt in delicious plates of food, The Ghost Chef, founded by Chef Akhil Multani is delivering all across Mumbai.

They aim to customize customers’ needs and offer a restaurant-style experience in the comfort of their homes.

‘Il Sale’ is the translation of salt in Italian, just like the first two brands under its name - ‘Namak’ and ‘Alas’ meaning salt in Hindi and Greek, respectively.

“Being a big foodie and a chef professionally, I saw a gap in the market from where one could order different specialty foods without placing multiple orders and spending on deliveries separately for all the orders. Imagine being able to order Indian Biryanis, Lebanese dips, Asian Starters and Salads & Pasta all from one roof, with all 4 being their specialities at the same time; it seemed like a dream that I wanted to achieve,” shared Multani.

Guests can place their orders for Namak or Alas via Thrive and Swiggy.

 

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Chef Anuj Wadhwan's Ah So Yum opens outlet in Greater Kailash
Chef Anuj Wadhwan's Ah So Yum opens outlet in Greater Kailash
 

Pan-Asian delivery venture in Gurgaon Ah So Yum is opening another delivery outlet in GK, Delhi this July.

Chef Anuj Wadhawan is a young chefpreneur who aims at balancing the taste and business of his venture Ah So Yum, a Pan Asian Delivery service, running successfully in Delhi/NCR since 2019.

The much-awaited launch will bring the spirit of Pan Asian cuisine closer to the heart of the capital and will unveil Delhi’s largest Dimsum and Sushi menu.

“At present, we have more than 50 varieties of Dimsum and Sushi and with the opening of the new delivery outlet we are planning to expand it further and in the coming months we will be serving Singaporean curries and Malaysian flavours as well,” shared Wadhwan by pointing that the idea is to make people experience authentic Asian flavours at the comfort of home with a personalized touch, and that’s the reason he is ready to walk that extra mile to make every experience count.

Ah So Yum not only provides the widest range of flavours, but also focuses on sourcing the best quality ingredients in an ethical and sustainable way with a quest for contributing to conscious living and creating a delicious meal at the same time. Here, every ingredient is handpicked by the team of experienced chefs, who also assure that hygiene and sanitation remain the top priorities as the well being of their customers come before everything.

All the staff at Ah So Yum wears masks and after every two hours sanitization and temperature check of employees is performed as a preventive measure.

At Ah So Yum, the ultimate objective is to provide an unforgettable experience with a pinch of modernity and creativity in terms of packaging and delivery, where every order comes with a welcome message and fortune cookie to bring that gentle smile on your face with hope of bringing you back for more!

 

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JustKitchen appoints Cloud kitchen's Warren Tseng and VC Gene Chuang as strategic advisor
JustKitchen appoints Cloud kitchen's Warren Tseng and VC Gene Chuang as strategic advisor
 

Taiwan-based Just Kitchen Holdings Corp has appointed Warren Tseng and Gene Chuang as the founding members of its strategic advisory board.

Tseng has been awarded the title of APAC Expansion Advisor and Chuang has been granted the title of Technology Advisor.

The appointments of both Tseng and Chuang emphasize JustKitchen’s focus on technology and innovation as a cornerstone of its recently announced international expansion plan for 2021-2022.

“We are excited to leverage Warren’s proven track record of success with respect to growing both Uber Technologies and Cloudkitchens across the Asia-Pacific region, and benefit from Gene’s technological expertise and California-based venture capital relationships, as we prepare to bring JustKitchen to key markets like United States, Philippines and Singapore, through various arrangements,” said Jason Chen, Co-Founder and CEO of JustKitchen

Warren Tseng is an early-stage business operator and angel investor, including his position as a shareholder of the Company. He has extensive experience in establishing and growing companies across Southeast Asia and Greater China. He was an early entrant to the on-demand economy and the cloud kitchen industry from working as General Manager (Singapore) at Uber Technologies and as Regional General Manager (Asia Pacific) at CloudKitchens to establish the companies in eight countries across the APAC region.

Similarly, Gene Chuang is a technology executive who has been in the industry for 24 years. He has worked to help grow internet and mobile application companies like Overture, Yahoo!, AT&T Interactive/YellowPages, Chegg, Beachbody/Openfit and Oversee. Most recently, he led the engineering team for P.volve and launched their new streaming fitness and eCommerce platform. Gene is a Limited Partner investor for Hyphen Capital investing in AAPI founders, a mentor for Mucker Capital, board member of Innovate Pasadena and runs CTO Slackers, a global community of over 800 technology leaders and founders.

Just Kitchen recently filed and obtained receipt for, a final base shelf prospectus (the “Shelf Prospectus”) allowing the Company to offer up to $50,000,000 of common shares, warrants, subscription receipts or units or any combination thereof (collectively, the “Securities”), from time to time during the 25-month period that the Shelf Prospectus is effective. JustKitchen filed the Shelf Prospectus with the securities commissions in all the provinces of Canada, except Quebec.

 

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Zomato's Feeding India join hands with Delhivery in fight against Covid-19
Zomato's Feeding India join hands with Delhivery in fight against Covid-19
 

Zomato Feeding India, the not-for-profit arm of the food delivery firm has kickstarted the “Help Save My India” endeavour today in association with logistic provider Delhivery to source oxygen concentrators and related supplies to help hospitals and families in need.

“We have already kickstarted the effort, and now need your help to raise ₹50 crores for @FeedingIndia in the next few days (hours?) to save hundreds of thousands of lives. If we raise more, we will get more oxygen,” Tweeted Deepinder Goyal, CEO & Co-Founder, Zomato yesterday.

Deepinder Goyal

These donations will be used towards the cause with the food delivery firm footing the entire administrative fee, he added.

The platform has raised about Rs 12.6 lakh so far.

Last year, under the ‘Feed The Daily wager’ endeavor, Zomato distributed 78 million meals for free to the poor who had lost access to their livelihoods.

 

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Cross Border Kitchens starts delivery in entire Delhi-NCR
Cross Border Kitchens starts delivery in entire Delhi-NCR
 

Cross Border Kitchens that is currently running 3 kitchens strong in the region of Delhi-NCR with a newly-opened kitchen in Saket starts delivery in complete NCR region.

The cloud-kitchen players started in 2019 is operating 7 incredible food delivery brands across multiple cuisines such as Indian, Western, Pan-Asian, and Specialty.

“We have ensured implementation of all safety and hygiene measures as per Government advisory. We have been at the forefront in talking about our safety initiative and placing adequate measures in place,” said Ishita Yashvi, Co-Founder and CMO, Cross Border Kitchens that has always put community first and as such transparency with their consumers is of the utmost importance to them.

The Delhi-based startup ensures zero contact cooking and delivery; all riders are wearing masks and sanitize their hands regularly. If the customer is not comfortable taking food from the rider then the riders leave it at their doorstep to prevent any bacteria or germs from being transmitted

“We are grateful that our patrons have gained confidence from our constant communication and measures such as Zero-contact cooking and delivery as well as a constant stream of Behind-The-Scene footage of our kitchens to our audience at large,” she added.

Started by four friends - Ahsan Qureshi, Ishita Yashvi, Mayank Singh, and Mohit Mehta, CBK raised angel round of funding earlier this March.

Kitchens have been scheduled periodically for a thorough sanitization exercise with the cleaning of door handles, table surfaces, table tops and stores to walls. The staff has been educated about the virus, its symptoms and the precautionary measures of how to use masks and have been advised to wash their hands regularly during the shifts,” she further added.

 

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Zomato expands its food delivery services to more than 300 cities
Zomato expands its food delivery services to more than 300 cities
 

Zomato has expanded its online food delivery services to more than 300 cities across India.

The new cities in which Zomato now operate include Bhuj and Junagadh in Gujarat, Rishikesh in Uttarakhand, Shimla and Mussoorie in Himachal Pradesh, Nagercoil in Tamil Nadu, Ayodhya and Raebareli in Uttar Pradesh, Chikmagalur and Hosur in Karnataka, Kharagpur in West Bengal, Chhapra and Begusarai in Bihar, Hazaribagh and Ramgarh in Jharkhand, Jalna and Parbhani in Maharashtra.

The company has further expanded its footprint into the north eastern state of Tripura, where it will deliver in the capital city Agartala. Zomato also added two more cities in Assam, including Silchar and Dibrugarh.

Mohit Gupta, CEO (Food Delivery Business), Zomato, said, “We are onboarding 45-50 restaurants in each city on average; a figure that’s bound to move northward over the coming weeks.”

In March 2019, Zomato had crossed the 200 city mark. The company targets to deliver food across 500 cities in India by the end of September.

 

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बस समूहक ने किया फूड डिलीवरी मार्केट में प्रवेश
बस समूहक ने किया फूड डिलीवरी मार्केट में प्रवेश
 

भारत की सबसे बड़ी बस एग्रीगेटर शटल, ने फूड डिलीवरी स्पेस में प्रवेश करते हुए, दैनिक यात्रियों के लिए बस में भोजन देने की शुरुआत की है।यह लॉन्च कंपनी के कैप्टिव ग्राहक आधार को आगे बढ़ाने की योजना का हिस्सा है।

गुड़गांव स्थित कंपनी ने अक्टूबर 2018 में 50 बसों के साथ प्रायोगिक शुरुआत की। ये इस साल 1200 बसों में भोजन की पेशकश के पैमाने को बढ़ाने की योजना बना रहा है, जिनमें ज्यादातर दिल्ली-एनसीआर से संचालित हैं।

शटल के को-फाउंडर अमित सिंह ने कहा, 'हमारे ग्राहकों की मांग थी कि बसों में खाना दिया जाए। जिस मीटर को हमने को ट्रैक किया, यानी कि प्रति राइड बेची हुई वस्तुएं, बताती हैं कि लगभग 90 प्रतिशत लोग कुछ ऐसा खरीद रहे हैं जो ये पुष्टि करता है कि इसके लिए उपभोक्ता मांग है। हम क्लाउड किचन के साथ काम कर रहे हैं और इस पेशकश को बढ़ाने के लिए एक ऑर्डरिंग प्रोडक्ट का निर्माण कर रहे हैं।'

उन्होंने आगे कहा कि, 'कंपनी, कीमतों में बढ़ोत्तरी, बड़ी बसें और बेहतर व्यवसायिक अवसरों के आधार पर लगभग एक महीने में परिचालन स्तर पर हानिरहित व्यापार करने की उम्मीद रखती है। ब्रेड, मक्खन, दही, अंडे और दूध जैसी बसों पर दैनिक आवश्यक चीजें बेचना स्टार्टअप के लिए अगला कदम होगा।'

 

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Bus aggregator Shuttl enters food delivery space
Bus aggregator Shuttl enters food delivery space
 

Shuttl, India's largest bus aggregator, has launched meals on buses for daily commuters, entering into the food delivery space. This launch is part of the company’s plan to further monetise its captive customer base.

The Gurgaon-based company had started a pilot in October 2018 with 50 buses. It is planning to scale up the offering this year by offering meals on 1,200 buses, most of which operate in Delhi NCR.

Amit Singh, Co-Founder of Shuttl, said, "Our customers are demanding food to be served on buses. The metric we track, i.e. Items sold per ride, show that about 90% of the people are buying something which validates that there is a consumer demand for it. We are working with cloud kitchens and building an ordering product to scale this offering."

"The company expects to break even at an operating level in about a month on the back of an increase in prices, bigger buses, and improved occupancy levels. Selling daily essentials on buses like bread, butter, curd, eggs and milk would be the next step for the startup," he added.

 

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Swiggy launches food delivery services in 16 new cities
Swiggy launches food delivery services in 16 new cities
 

Swiggy has expanded its presence across India by launching services in sixteen new cities. With the addition of these new cities, the food ordering and delivery platform is now present in 44 cities across the country.

The new cities added by Swiggy are Thrissur, Tirupur, Warangal, Aurangabad, Agra, Mangalore, Manipal, Jalandhar, Trichy, Udaipur, Amritsar, Varanasi, Bhubaneshwar, Vellore, Thiruvananthapuram and Kota.

Vivek Sunder, COO of Swiggy, said, "One of the reasons for the expansion across the country is because of the strong consumer demand that we have witnessed through thousands of Swiggy app downloads in cities where we were not even present."

With this expansion, Swiggy will strengthen its delivery network across tier 2 and tier 3 cities, penetrating deeper in India and reaching more customers.

 

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Swiggy FY18 revenues surge 232% to Rs 442 crore
Swiggy FY18 revenues surge 232% to Rs 442 crore
 

Swiggy, a Bengaluru-based food delivery app, has recorded a 232% jump in its revenues. The company has earned operational revenues of Rs 442 crore. Last year, it earned Rs 133 crore.

The company saw its top-line surge in FY18 as it expanded its geographic footprint across India. It expanded its operations from seven cities in March 2017 to 12 by March 2018.

The losses of the online food ordering and delivery platform for the same period doubled to Rs 397 crore from Rs 205 crore in FY17. 

A spokesperson for Swiggy said, "In FY18, we remained focused on delivering exceptional value to our users while making significant investments for the future and improving our operational efficiencies as we start hitting the scale. This has resulted in the operating revenue increase outpacing the cost increase, further strengthening our leadership position as India's largest food ordering and delivery platform. We will continue to double down on this growth as we expand to more cities and experiment with innovative ways to bring more convenience to the lives of consumers."

 

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ज़ोमेटो, स्विगी ने बिना एफएसएसएआई लाइसेंस वाले भागीदारों की डीलिस्टिंग शुरू की
ज़ोमेटो, स्विगी ने बिना एफएसएसएआई लाइसेंस वाले भागीदारों की डीलिस्टिंग शुरू की
 

खाद्य सुरक्षा और स्टैण्डर्ड ऑथोरिटी ऑफ़ इंडिया (एफएसएसएआई) के निर्देश के बाद, ज़ोमैटो और स्विगी जैसे खाद्य वितरण फर्मों ने उन रेस्तरां को डिलीस्टिंग करना शुरू कर दिया है, जिनके पास खाद्य नियामक से लाइसेंस नहीं है। जुलाई में एफएसएसएआई ने सभी प्रमुख फ़ूड-टेक कंपनी को भोजन स्वच्छता और सुरक्षा सुनिश्चित करने के लिए गैर-अनुपालन वाले रेस्तरां भागीदारों को डिलिस्ट करने का निर्देश दिया था।

ज़ोमैटो के सह-संस्थापक और सीईओ, दीपिंदर गोयल ने कहा है कि खाद्य सुरक्षा और स्वच्छता पर एफएसएसएआई मानदंडों के अनुरूप नहीं होने के कारण उन्होंने अपने खाद्य आदेश मंच से सैकड़ों रेस्तरां पहले से ही रद्द कर दिए हैं। उन्होंने आगे कहा कि एक बार डिलीस्टेड रेस्तरां अपने एफएसएसएआई लाइसेंस प्रदान करते हैं, तो उन्हें ज़ोमैटो के मंच पर फिर से सूचीबद्ध किया जाएगा।

स्विगी के प्रवक्ता ने कहा, "हमने सभी गैर-अनुपालन रेस्तरां को निर्दिष्ट समय सीमा में अपने लाइसेंस प्राप्त करने में मदद करने के लिए एक एफएसएसएआई सहायता कार्यक्रम स्थापित किया है।"

ज़ामैटो द्वारा डिलीस्टिंग प्रक्रिया सभी 34 शहरों में की जा रही है, जहां उनका फर्म मौजूद है। ज़ोमैटो के पास भारत में 50,000 से अधिक रेस्तरां सूचीबद्ध हैं, जबकि स्विगी ने अपने खाद्य वितरण मंच पर 40,000 से अधिक रेस्तरां सूचीबद्ध किए हैं।

ज़ोमैटो में फ़ूड डिलीवरी बिज़नेस के सीईओ, मोहित गुप्ता ने कहा, "हमारे ज्यादातर रेस्तरां भागीदारों ने वर्तमान में अपने एफएसएसएआई लाइसेंस के लिए आवेदन किया है या करनेवाले है। हमें यकीन है कि इस कदम से हमारे ऑर्डर की मात्रा पर कोई असर नहीं पड़ेगा।"

एफएसएसएआई के सीईओ, पवन कुमार अग्रवाल ने कहा, "अधिकांश फ़ूड डिलीवरी करनेवालों ने इस मुद्दे को सुलझाने के लिए अपनी प्रतिबद्धता दिखाई है और अनुपालन सुनिश्चित करने के लिए सितंबर के अंत तक का समय मांगा है। वे उम्मीद करते हैं कि उनके प्लेटफ़ॉर्म पर के लगभग 90-95% रेस्तरां तब तक कंप्लायंट हो जाएंगे। "

नियामक ने पहले निर्देश के अनुपालन के लिए 31 जुलाई की समयसीमा जारी की थी।

 

 

 

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Zomato, swiggy begin delisting restaurant partners without FSSAI license
Zomato, swiggy begin delisting restaurant partners without FSSAI license
 

Following the directive from The Food Safety and Standards Authority of India (FSSAI), food delivery firms like Zomato and Swiggy have started delisting restaurants that do not have a license from the food regulator from their platforms. FSSAI, in July, had instructed all major food-tech players to delist non-compliant restaurant partners to ensure food hygiene and safety.

Deepinder Goyal, Zomato’s Co-founder and CEO, has said that they have already delisted hundreds of restaurants from its food ordering platform for not being compliant with FSSAI norms on food safety and hygiene. He further added that once the delisted restaurants provide their FSSAI licences, they will be re-listed on Zomato's platform.

Swiggy’s spokesperson said, “We have set up an FSSAI Assist Program to help all non-compliant restaurants procure their licenses within the specified timeframe.”

The delisting process by Zomato is being carried out across all 34 cities where the firm has presence. Zomato has over 50,000 restaurants listed on the platform in India while Swiggy lists over 40,000 restaurants on its food delivery platform.

Mohit Gupta, CEO, food delivery business at Zomato, said, “Most of our high order volume restaurant partners currently have or have applied for their FSSAI licences. We are certain this move will not have an impact on our order volumes.”

Pawan Kumar Agarwal, CEO at FSSAI, said, “Most of the food delivery players have given their commitment to ensure the issue is tackled and have sought time until the end of September to ensure compliance. They expect that about 90-95% of restaurants on their platform will turn compliant by then.”

The regulator had earlier issued a deadline of July 31 for complying with its directive.

 

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UberEats launched in Bengaluru
UberEats launched in Bengaluru
 

Uber has launched its food delivery service in Bengaluru with delivery charges of just Re. 1. The regular charge is Rs. 25. Earlier this year Uber had launches its food delivery service in Mumbai and Gurugram.

In Bengaluru, the service will start in three southern residential areas – Koramangala, HSR Layout and BTM Layout. Uber has partnered with more than 300 restaurants to start with. The density of restaurants that UberEats covers is approximately 10 restaurants per sq. Km Paytm is the only payment method now, but the company will launch card payments soon.

"In rides, we created a new market with efficiency and grew the market. We have a consumer base we can tap into and have technology and data that we can dig into (for food delivery). We will bring more efficiency in the market with data about traffic density, traffic speed and delivery partner location," said Bhavik Rathod, head of UberEats India.

The choice of the localities, according to Uber, was made on the basis of restaurant density. The Koramangala region, said Rathore, has one of the highest number of restaurants in India. Swiggy and Zomato now deliver to many locations across Bengaluru.

Uber said all of its ride customers were potential UberEats customers. Uber is promising a 35 minute delivery. The UberEats app has more than 5 million downloads and was launched in Santa Monica, California, three years ago. Unlike Uber rides, consumers can place orders on the website too. 

 

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