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Can Swiggy Replicate Zomato’s Success On The Bourses?

Inc42 · 9m ago

Can Swiggy Replicate Zomato’s Success On The Bourses?

- Swiggy's IPO is one of the most anticipated IPOs in the Indian startup ecosystem and public market. - Public market investors are attracted to Swiggy due to the company's potential in the food delivery and quick commerce sectors. - Swiggy's quick commerce business has shown significant growth, with a FY24 Gross Order Value (GOV) of INR 8,068.6 Cr, up over 57% YoY. - While a direct comparison between Swiggy and Zomato is necessary, investors see the potential in Swiggy's quick commerce business. - Investors should consider Swiggy and Zomato as startup investments, understanding that there may be ups and downs in terms of profitability. - Swiggy's unlisted shares are currently trading at INR 485-INR 515 in the grey market. However, concerns about high valuation and losses on the books remain.

Related News

Zomato Block Deal: Antfin Singapore to sell $408M in shares

Inshorts · 11m ago

Zomato Block Deal: Antfin Singapore to sell $408M in shares

Amid Zomato’s bull run on the bourses, Ant Group’s arm Antfin Singapore is reportedly looking to sell the foodtech giant’s shares worth $408 Mn (INR 3,422.84 Cr). As per a report by CNBC-TV18, Antfin Singapore intends to sell 13.6 Cr shares, or a 1.54% stake, via a block deal on Tuesday (August 19).

Eternal vs Swiggy: diverging strategies, converging goals - BusinessToday

Business Today

Business Today · 2m ago

Eternal vs Swiggy: diverging strategies, converging goals - BusinessToday

Eternal, Zomato’s parent company, is financially outperforming Swiggy, recording its fourth profitable quarter with a ₹537 crore net profit in FY25. Meanwhile, Swiggy posted a ₹3,117 crore loss, still reliant on its core food delivery business as Instamart grows. Both companies are focusing on quick commerce, with Swiggy launching 'Bolt' for 10-minute deliveries, seeking to outpace rivals like Zepto and BigBasket while targeting profitability amidst intense competition.

Deepinder Goyal leaves Shark Tank as Swiggy becomes sponsor

Entrackr

Entrackr · 9m ago

Deepinder Goyal leaves Shark Tank as Swiggy becomes sponsor

In a significant shift within the Indian startup landscape, Zomato’s CEO, Deepinder Goyal, announced on Saturday that he will not be returning as a judge for the upcoming fourth season of the popular reality show Shark Tank India. His decision marks a departure from his previous involvement in mentoring aspiring entrepreneurs on the show. This decision comes amid reports that Swiggy, Zomato’s main competitor in the food delivery space, will be sponsoring the new season of Shark Tank India. An ET report suggests that Goyal’s departure is linked to a strategic agreement that allows Swiggy, Zomato’s primary competitor in the food delivery market, to sponsor the upcoming season of Shark Tank India. A MoneyControl report added that Swiggy may spend Rs 25 crore to sponsor the new season. “I unfortunately can’t go back because Swiggy sponsored Shark Tank this time and kicked me out,” Goyal said at ET Startup Awards 2024 on Saturday. Goyal’s exit signifies a major change for the show, which has built a substantial following since he became a judge in season 3 last year. Queries sent to Zomato, Swiggy and Shark Tank did not elicit an immediate response. This development coincides with Swiggy’s impending debut on the stock exchange. In its recently filed draft red herring prospectus, Swiggy outlined that it plans to invest approximately Rs 930 crore in brand marketing and awareness. In other news, Swiggy launched a 10-minute food delivery service called Bolt in key locations across Bengaluru, Chennai, Hyderabad, New Delhi, Mumbai, and Pune. The Bengaluru-based firm also officially launched its Swiggy XL EV fleet, a bulk order delivery service using electric vehicles, in Gurugram. Notably, Zomato had already launched its bulk delivery service earlier in April.

Swiggy Instamart drops non-veg food items from app on Maha Shivratri; users react on social media

Economic Times

Economic Times · 4m ago

Swiggy Instamart drops non-veg food items from app on Maha Shivratri; users react on social media

Swiggy Instamart temporarily removed non-vegetarian items from its platform during Maha Shivratri, prompting social media reactions. Observing the Hindu festival, where devotees fast and avoid non-vegan foods, the platform offered sacred Tandool Mahaprasad Ladoos from Kashi Vishwanath Temple across 40 cities. While Swiggy Instamart refrained from providing non-veg items in select markets, other platforms like Zomato’s Blinkit continued their services. Past similar actions by Zomato faced consumer backlash.

After Bengaluru, Flipkart’s ‘Minutes’ Ventures Into Delhi’s Quick Commerce Turf

Inc42 · 10m ago

After Bengaluru, Flipkart’s ‘Minutes’ Ventures Into Delhi’s Quick Commerce Turf

Walmart-owned Flipkart has expanded its quick commerce service, 'Minutes', to Delhi after initially launching in Bengaluru. The service offers fast delivery of groceries, electronics, smartphones, and other products within 8-16 minutes. This puts Flipkart in competition with Zepto, Zomato’s Blinkit, and Swiggy Instamart, who also offer similar delivery timelines.

Swiggy Day 1: Stock closes 10% higher on bourses

YourStory

YourStory · 8m ago

Swiggy Day 1: Stock closes 10% higher on bourses

Swiggy, the food delivery and quick commerce firm, had a strong public debut on the domestic bourses. Its shares closed 10.48% higher on the NSE and 10.67% higher on the BSE. The company aims to raise around Rs 11,700 crore through its IPO, which was oversubscribed 3.59 times. The funds raised will be used for investing in subsidiary Scootsy, reducing debt, expanding the dark store network, enhancing technology capabilities, and strengthening brand-building initiatives. Swiggy's Q2 results, including average order value and dark store network expansion, will be closely watched by investors and analysts.

Lenskart VS TitanEyePlus: How Lenskart Disrupted Titan's Eyewear Empire

StartupTalky

StartupTalky · 1y ago

Lenskart VS TitanEyePlus: How Lenskart Disrupted Titan's Eyewear Empire

Lenskart, a startup, disrupted the Indian eyewear market dominated by local opticians and the established player, Titan EyePlus. Lenskart's success can be attributed to its innovative approach, online retail presence, omnichannel strategy, affordability, technological investments, trendy designs, and customer-centric marketing. In contrast, Titan EyePlus struggled to adapt to the digital wave and replicate its retail model. Today, Lenskart is the leader in the market, while Titan EyePlus remains a significant player. This story emphasizes the importance of adapting to change, embracing technology, understanding customer needs, and investing in brand building.

Eye On Profitability? Zepto Experiments With INR 2 Platform Fee

Inc42 · 1y ago

Eye On Profitability? Zepto Experiments With INR 2 Platform Fee

Quick commerce startup Zepto has introduced a platform fee of INR 2 per order, along with separate handling charges ranging from INR 5 to INR 20. The move aims to bolster profitability by creating additional revenue streams, following the examples of Swiggy and Zomato. Zepto also offers a membership program called Zepto Pass, starting at INR 99 per month, which provides unlimited free deliveries on orders above INR 99. The company is working towards achieving EBITDA profitability in 2024 and plans to list on the Indian bourses by 2026.

Brazilian payment company Ebanx set to start India operations with Yes Bank

Economic Times

Economic Times · 1y ago

Brazilian payment company Ebanx set to start India operations with Yes Bank

Brazilian payments company Ebanx is teaming up with Yes Bank to offer cross-border merchant payments in India. Ebanx will provide payments infrastructure for global brands looking to sell to Indian consumers, who can pay in their local currency using local payment methods including Unified Payments Interface (UPI) and RuPay cards. Ebanx, which has raised over $400m in funding, plans to replicate its success in Brazil's instant payment platform Pix by leveraging India's UPI settlement system. The company aims to expand its operations in India with the support of its experience in other developing markets.

UPI to enter North America, other Middle-Eastern countries soon: NIPL CEO Ritesh Shukla

Money Control

Money Control · 2y ago

UPI to enter North America, other Middle-Eastern countries soon: NIPL CEO Ritesh Shukla

Ritesh Shukla, CEO of National Payments Corporation of India (NPCI), stated that Unified Payments Interface (UPI) will soon expand its services to North America and other Middle Eastern countries. UPI, a popular digital payment system in India, aims to replicate its success and provide convenient and secure payment options to users in these regions. NPCI is working on partnerships to facilitate UPI's global expansion.

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