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Swiggy expands into sports as it looks to go beyond food, grocery segments
YourStory
·
6m ago
Medial
Swiggy is diversifying beyond its core food and grocery delivery services by launching Swiggy Sports Pvt. Ltd. as a subsidiary. Approved by the Ministry of Corporate Affairs, the new entity aims to manage sports teams, develop talent, organize events, and acquire broadcasting rights. Swiggy acquired Team Mumbai in the World Pickleball League, marking its foray into the sports sector. This move comes as Zomato consolidates its dining and ticketing business amidst a thriving pickleball scene.
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Swiggy Merges InsanelyGood With Instamart
Inc42
·
1y ago
Medial
Swiggy, an IPO-bound food delivery company in India, has merged its premium grocery vertical, InsanelyGood, with its quick commerce unit, Instamart. InsanelyGood's operations will be paused for some time, and it will be available through Instamart. Swiggy has been expanding its services beyond food delivery, with offerings such as Swiggy Genie and Minis store. This move comes as quick commerce companies like Instamart and Zepto are diversifying into new product categories, challenging traditional e-commerce firms. Swiggy is expected to file its IPO papers soon, following a recent valuation mark-up by asset management firm Baron Capital Group.
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Swiggy expands food delivery service to 100 railway stations
Economic Times
·
4m ago
Medial
Swiggy has expanded its food delivery service to 100 railway stations across 20 Indian states through a partnership with IRCTC. The food and grocery delivery platform plans to further extend its reach to more stations. This service aims to enhance the train travel experience by offering passengers convenient access to a diverse range of meals. This expansion underscores Swiggy’s commitment to integrating food delivery into the cultural fabric of India's train journeys.
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Swiggy integrates Mall offering with Instamart
Economic Times
·
1y ago
Medial
Food delivery platform Swiggy is integrating its Mall service with its quick commerce service Instamart. Swiggy Mall currently operates in select areas of Bengaluru and offers a range of non-grocery items. The move comes as competitors Zepto and Blinkit are also expanding beyond grocery products. Quick commerce platforms are experiencing robust growth in non-grocery categories, leading to the emergence of smaller direct-to-consumer brands seeking to join these platforms.
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Swiggy's Strategic Merger: Instamart and InsanelyGood Align Ahead of IPO Launch
StartupTalky
·
1y ago
Medial
Swiggy has merged InsanelyGood with its Instamart grocery delivery service as part of its strategy to improve efficiency and combine its food and grocery delivery services. This move comes ahead of Swiggy's anticipated IPO and aims to increase investor confidence. Swiggy Instamart is recognized as India's leading quick commerce grocery service and operates in over 25 cities. The integration of InsanelyGood into Instamart will help Swiggy streamline operations and solidify its position in the rapidly growing online grocery market, catering to the increasing demand for quick delivery of essential groceries.
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Swiggy, Zepto and Zomato's Blinkit cash in on quick commerce boom
VCCircle
·
1y ago
Medial
Swiggy, Zepto, and Zomato's Blinkit are capitalizing on the boom in quick commerce in India. Swiggy, backed by SoftBank, has expanded its grocery business, aiming to deliver orders within 10 minutes. This new model is threatening traditional small grocery stores and reshaping the way Indians shop. Quick deliveries currently account for 45% of the $11 billion online grocery market in India, with expectations that it will reach 70% by 2030. Swiggy plans to increase its warehouse count from 500 to 750 by 2025 and is diversifying its offerings beyond groceries into higher-margin products.
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Swiggy targets $15 billion valuation in IPO
Economic Times
·
11m ago
Medial
Indian food delivery giant Swiggy is planning to go public with a target valuation of $15 billion as it aims to raise $1-1.2 billion. This IPO would be one of the largest in India this year. Swiggy, backed by SoftBank, competes with Zomato in the online food delivery sector and both companies are betting on the growing quick commerce trend. Swiggy plans to use the IPO funds to expand its Instamart business and increase competition with Zomato, which currently has a market valuation of around $28 billion. Quick deliveries are predicted to make up 70% of India's online grocery market by 2030.
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Swiggy Instamart expands to 76 cities, to launch a standalone app
Economic Times
·
6m ago
Medial
"While it’s been clear for a while now that Swiggy Instamart is set to match food delivery in size, recent developments show it’s on track to surpass food delivery in both penetration and scale. The positive reception in new cities and categories suggests Instamart could achieve far greater user adoption, going well beyond 100M+ users,” Sriharsha Majety, MD & group CEO, Swiggy said in a statement.
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IPO-Bound Swiggy expands into Lakshadweep amid layoff plan
Inc42
·
1y ago
Medial
Food delivery platform Swiggy has expanded its services to Lakshadweep's Agatti island city, becoming the first online food delivery platform to enter the region. The move aims to support local restaurants, empower local culinary talents, and enhance the dining experience for visitors. Swiggy's expansion comes as the company plans to downsize its workforce by around 6%. Despite the layoffs, Swiggy continues to focus on growth and profitability, with plans to go public in mid-2024 through what is expected to be the largest IPO by an internet company, with an issue size of $1 billion.
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Swiggy, One Year From Now
Inc42
·
8m ago
Medial
Swiggy is undergoing rapid changes as it expands beyond food delivery. The company is now listed publicly and is looking to broaden its services beyond its initial focus. Alongside its rival, Zomato, Swiggy is shifting its attention to the wider consumer services ecosystem. This indicates that food delivery will no longer be the sole core aspect of Swiggy's business going forward.
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Rebel Foods’ EatSure Gambit
Inc42
·
9m ago
Medial
India's food delivery industry is dominated by Zomato and Swiggy, but Rebel Foods is taking a different approach with its brand EatSure. Rebel Foods aims to expand its reach beyond Tier I cities and into Tier II and Tier III cities, with plans to add more restaurants by December 2024. Reports suggest that Temasek Holdings is looking to invest in Rebel Foods as the company prepares to go public.
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