Prosus, the largest shareholder in Swiggy, revealed a 35 per cent reduction in its share of the Indian food-delivery giant’s losses, amounting to USD 208 million for the half-year period ending on 30 September. Prosus, based in Amsterdam and affiliated with the South African conglomerate Naspers, holds a 32.7 per cent stake in Swiggy. Considering […]
During the ongoing ICC World Cup Finale match between India and Australia on Sunday, quick-commerce platforms Zepto and Blinkit said that they were on course to record their highest daily sales, with a notable surge in orders for the Indian jersey. Swiggy reported that pizzas and burgers dominated the most-ordered items on its food delivery […]
Swiggy, the online food delivery platform, announced on Tuesday that it has facilitated the disbursal of over Rs 450 crore in loans to more than 8,000 restaurant owners through its capital assist programme. Launched in 2017, this pioneering initiative addresses the financing gap and empowers restaurant owners. According to the company’s statement, over 8,000 restaurants […]
The omnichannel meat retailer, Licious, witnessed a notable reduction in its losses for the financial year concluding on 31 March 2023, marking a decrease of approximately 38 per cent to Rs 528.6 crore compared to Rs 855.7 crore the previous year. Concurrently, the company experienced a growth in revenues by 9.5 per cent, reaching Rs […]
Ahead of Ganesh Chaturthi festival, Goa Chief Minister, Pramod Sawant, on Thursday unveiled the Goa Chavath e-Bazaar, listing products by local women entrepreneurs and self-help groups on ‘Swiggy Minis’ as part of a Memorandum of Understanding (MoU) with online delivery platform, Swiggy. The delivery platform entered into an agreement with the Goa government on Thursday […]
India’s Swiggy said on Thursday its food delivery business achieved profitability in March, less than nine years since its inception. The company, which also offers grocery delivery services, had recorded a wider loss for the financial year 2021-22 on a surge in expenses, the Economic Times reported in January. Swiggy has had multiple rounds of […]
The internet is buzzing all around with just one word – ONDC. Content creators, influencers, general public … they are all talking about ONDC and how it is ready to take on Food delivery apps like Swiggy and Zomato and save big bucks for the consumers. So what is the hype around ONDC? While the […]
US-based investment firm Invesco on Monday cut the valuation of the Indian food delivery major Swiggy to USD 5.5 billion in January 2023 from its last valuation of USD 10.7 billion a year earlier. This has been stated in a regulatory filing with the Securities and Exchange Commission (SEC). It may be recalled that […]
Swiggy , a leading food delivery app in India, backed by the global internet group Prosus. The company recently launched a premium grocery delivery program called Handpicked, which was operating in some parts of Bangalore. However, for some reason, the program has been discontinued by the company. The positive takeaway from this is that Swiggy […]
In an effort to reduce costs, food tech company Swiggy has started charging all users a “platform fee” of Rs 2 each order, regardless of the amount of the basket. The extra fees, which were first implemented for users in cities like Bengaluru and Hyderabad, are currently solely applied to food orders and have not […]
