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How dining and events could be Swiggy’s next growth engine

Livemint

Livemint · 10m ago

How dining and events could be Swiggy’s next growth engine

Indian food delivery company, Swiggy, is focusing on dining out and event experiences to drive growth. Swiggy has integrated its acquisition, Dineout, with its app to attract consumers with discounts for eating out. Despite entering the space later than rival, Zomato, Swiggy's out-of-home consumption business generated over ₹45 crore in Q1 2024-25. The company sees potential in the dining-out sector, as online discovery is increasingly important for consumers. Swiggy's dining out vertical had a gross order value of ₹657 crore in Q2. However, Zomato continues to dominate the dining-out market and has already achieved profitability in this sector.

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Zomato ropes in former executive Shalin Bhatt to head dining out vertical

Economic Times

Economic Times · 6m ago

Zomato ropes in former executive Shalin Bhatt to head dining out vertical

Zomato has appointed Shalin Bhatt to lead its dining out vertical. Bhatt rejoined Zomato in 2022, replacing previous head Sankalp Kathuria. This comes as Zomato transitions users to its new District app, enhancing its dining-out, events, and ticketing offerings. The company reported significant revenue growth in this segment and aims to strengthen its market position. The dining-out vertical changes coincide with industry challenges from the National Restaurant Association of India (NRAI) regarding payment services bundling.

Not just a cold play: How Zomato can make District a blockbuster

Livemint

Livemint · 10m ago

Not just a cold play: How Zomato can make District a blockbuster

Zomato, the popular food delivery platform, is entering the live events industry with its latest acquisitions of Paytm subsidiaries Wasteland Entertainment and Orbgen Technologies. The move is part of Zomato's strategy to expand its District app, which combines dining out with live events. However, the live events business can be challenging, with high upfront investments and a long time to break even. Zomato will need to build a diverse portfolio of events to generate year-round revenue, while also facing infrastructure constraints and competition from established players like BookMyShow.

Zomato plots capital raise to one-up IPO-ready Swiggy | The Arc

The Arc Web

The Arc Web · 9m ago

Zomato plots capital raise to one-up IPO-ready Swiggy | The Arc

Zomato is considering raising capital through a Qualified Institutional Placement (QIP) to counter Swiggy’s upcoming IPO, which is expected to raise $450-$600 million. Zomato, with a market capitalization of ₹239,000 crore, has made acquisitions and investments, including Paytm's ticketing business, while maintaining profitability. The capital raise, though not immediately necessary, is viewed as a strategic move to outmaneuver Swiggy’s growth plans. Swiggy's IPO could value it at $12-$15 billion, less than half of Zomato's market cap.

Lollapalooza India is on track to break even next year: Bookmyshow

Livemint

Livemint · 1y ago

Lollapalooza India is on track to break even next year: Bookmyshow

The Indian edition of Lollapalooza music festival is expected to reach a break-even point by next year, according to Owen Roncon, Live Entertainment chief at BookMyShow. Roncon stated that the event's brand popularity has been unprecedented and is increasing, leading to plans for bigger and better brand partnerships. Lollapalooza made its debut in India in 2019 and has become the first Asian country to host the festival. BookMyShow aims to reduce ticket prices through increased brand support and is focusing on co-producing events to make live shows a growth engine for the company.

Google's Sundar Pichai says tech giant has improved the web for all consumers

Economic Times

Economic Times · 1y ago

Google's Sundar Pichai says tech giant has improved the web for all consumers

Google CEO Sundar Pichai testified in the company's antitrust trial, stating that Google's payments to companies like Apple were made to ensure that Google's search engine worked well on their devices. Pichai addressed concerns that Apple could degrade the experience of using Google's search engine if the financial incentives weren't in place. The trial reflects increased efforts in Washington to rein in the power of Big Tech. Pichai also highlighted how products like Chrome and Android have improved competition and provided better user experiences.

Nvidia CEO Jensen Huang says AI could pass human tests in five years

Economic Times

Economic Times · 1y ago

Nvidia CEO Jensen Huang says AI could pass human tests in five years

Nvidia CEO Jensen Huang predicts that artificial general intelligence (AGI) could arrive within the next five years, depending on how AGI is defined. Huang believes that if passing human tests is the criterion for AGI, then it could be achieved in five years. However, if AGI is defined differently, it may take longer due to disagreements among scientists on how to describe human minds. Huang also mentioned the need for more chip factories to support the expansion of the AI industry, but noted that advancements in algorithms and processing efficiency will also reduce the number of chips required.

Go First’s foreign funding push to test India’s insolvency framework

Livemint

Livemint · 9m ago

Go First’s foreign funding push to test India’s insolvency framework

Indian airline Go First is seeking permission for foreign funding to support its ongoing arbitration case against Pratt & Whitney. The move, if granted, would be a first in India's Insolvency and Bankruptcy Code and could have implications for how distressed companies fund litigation. Go First, formerly known as GoAir, has filed for liquidation and owes at least INR 11,463 crore ($1.5bn) to banks and other creditors. The airline is claiming over $1bn in damages from Pratt & Whitney, blaming the engine maker's faulty engines for its grounding and subsequent collapse.

Zomato to launch District app for dining out, events, ticketing biz

Economic Times

Economic Times · 1y ago

Zomato to launch District app for dining out, events, ticketing biz

Gurugram-based food and delivery platform, Zomato, has launched a new app called District dedicated to its going-out business. The company has been focusing on expanding its verticals, which include dining out, live events, and ticketing. Zomato has been looking to capture consumer demand in various categories like food, grocery, and entertainment. The going-out business reported a gross order value of Rs 1,268 crore for the April-June quarter, a growth of 106% year-on-year. Zomato aims to build "super brands" instead of "super apps", in line with the preferences of Indian consumers.

IPL, other sporting events under merged RIL-Disney to be streamed on Hotstar

VCCircle

VCCircle · 9m ago

IPL, other sporting events under merged RIL-Disney to be streamed on Hotstar

Streaming of live sporting events, including the Indian Premier League (IPL), will be exclusively available on Disney's app, as part of the integration between Disney and Reliance in India. The merged entity, which created the country's biggest entertainment company, has not provided details on how they will operate together. Live cricket is highly popular and Reliance's JioCinema currently holds rights for events like the IPL, while Disney+ Hotstar has rights to other tournaments. The live sporting events will transition to Disney+ Hotstar, according to sources.

Google claims switching from its search engine is easy. It's not.

Economic Times

Economic Times · 1y ago

Google claims switching from its search engine is easy. It's not.

In Google's defense against the Justice Department's antitrust trial, the company argues that changing one's default search engine is as easy as swapping out a box of cereal at a supermarket. However, experts and a practical test reveal that it's not as simple as Google claims. On an iPhone, it takes six taps to change the search engine. On a Mac, two clicks are required, but the process can be confusing. On Android, it's more complex and doesn't necessarily change the web browser's default search engine. The trial raises questions about how easy it is to switch away from Google as the default search engine on various devices.

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