Started in 2014, Swiggy 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.
These developments come on the heels of the company receiving tax demands and penalty orders from authorities.
He added that earlier large orders were handled by multiple delivery partners and the customer experience was not what the company aspired for.
Nearly 6 million servings of Biryani were ordered during this period, representing a 15% surge compared to typical months.
Swiggy is part of a cohort of modern internet firms aiming to debut on public stock exchanges.
Swiggy has collaborated with Shikara operators who will support local delivery partners experienced in navigating Shikaras to reach the houseboats.
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The food delivered to passengers will be packed in insulated Swiggy bags to keep the meal warm and fresh.
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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
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 company's marketing expenditure rose to Rs 2,362 crore, constituting 28% of operating revenue in FY23, a decrease from 44% in FY22.
This will enable Domino’s to expand its customer base by making its products available to buyers from all ONDC seller apps based on geographical proximity, paid promotions or through product or brand search.
Zomato announced that its subsidiary, Zomato Payments Pvt Ltd has received approval from the RBI to function as a payment aggregator.
Taking an eco-friendly approach to preserve the beauty of the island, all deliveries will be solely made on bicycles.
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.
The notice was issued after FDA found out that these outlets had violated norms under the Food Safety and Standards Act, 2006.
These new cities include Dehradun, Puducherry, Mysore, Vijayawada, Nashik, Guwahati, Kanpur and Ludhiana.
In FY23, Swiggy incurred losses totaling about $545 million, marking an 80% surge from approximately $300 million in FY22.
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