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Swiggy Food CEO Rohit Kapoor sees Bolt as core future offering
Economic Times
·
2m ago
Medial
Swiggy is leveraging its 10-minute food delivery service, Bolt, to boost growth and market share in its most lucrative vertical. Despite rival Zomato shutting down a similar service, Bolt is contributing 12% to Swiggy’s delivery volumes. Swiggy aims to drive both market growth and share, with new users showing higher retention rates. However, Swiggy's net loss widened due to expenditure on quick commerce, highlighting challenges in balancing user growth and profitability.
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Swiggy Launches 10-Minute Food Delivery Service Bolt
Inc42
·
10m ago
Medial
- Swiggy Bolt is available in six cities: Bengaluru, Hyderabad, Mumbai, Chennai, Delhi, and Pune. - Swiggy plans to expand Swiggy Bolt's service to all cities in India. - CEO Rohit Kapoor expressed the company's intention to roll out Swiggy Bolt nationwide. - Swiggy recently introduced a new service called 'Cafe' in select areas of Bengaluru, providing fast delivery of snacks and beverages within 15 minutes. - Swiggy is reported to be preparing for an IPO in the near future.
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Swiggy’s 10-minute food delivery service Bolt expands to over 500 cities
Economic Times
·
3m ago
Medial
Swiggy's 10-minute food delivery service, Bolt, has expanded to over 500 cities in India within six months of its launch. Supported by a network of over 45,000 restaurant partners, the service has gained significant traction across metro, Tier II, and Tier III cities. Rohit Kapoor, CEO of Swiggy Food Marketplace, highlighted Bolt's alignment with modern consumer demands for quick, uncompromised food delivery. He called the rapid expansion to 500 cities an impressive beginning.
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Swiggy's top executives get ₹2,240 crore in ESOPs ahead of IPO
Inshorts
·
10m ago
Medial
Swiggy has awarded employee stock options (ESOPs) worth $270 million (₹2,240 crore) to its top executives ahead of IPO, reports said. CEO Sriharsha Majety, who previously owned 6.23% of Swiggy, has been given an additional 2.3% stake. Co-founders Nandan Reddy and Phani Kishan Addepalli, food marketplace CEO Rohit Kapoor, and Instamart CEO Amitesh Jha have also been awarded new shares.
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We don't see ONDC as a threat: Swiggy's Food Marketplace CEO
YouTube
·
2y ago
Medial
Swiggy's Food Marketplace CEO, Rohit Kapoor, views the Open Network for Digital Commerce (ONDC) as a positive development and not a threat. He emphasized the company's careful monitoring of the government-backed platform, which recently entered the food delivery market. Kapoor acknowledged the potential impact of ONDC but expressed an optimistic approach towards its evolution in the industry.
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IPO doesn't keep me awake at night: Swiggy Food Marketplace CEO
Inshorts
·
9m ago
Medial
Swiggy Food Marketplace CEO Rohit Kapoor said the upcoming IPO of the company doesn't keep him awake at night. "I know there is a lot of excitement and we make a bit of public spectacle in India with IPOs. Hopefully, it goes well," he stated. He further compared Swiggy's IPO with a person turning 18 and getting a driving license.
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Eternal vs Swiggy: diverging strategies, converging goals - BusinessToday
Business Today
·
2m ago
Medial
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.
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Bolt has the potential to reshape food delivery: Rohit Kapoor, CEO of Food Marketplace, Swiggy
YourStory
·
8m ago
Medial
Swiggy's 10-minute food delivery service, Bolt, accounts for 5% of its total food delivery orders within two months of its launch. The service is currently available in 400 cities and offers a wide range of menu items that require minimal preparation time. Bolt is expected to account for 10% of all food delivery orders in the near future. Swiggy's core food delivery business reported its first profitable quarter, driven by newer offerings like Bolt, Eatlists, and PocketHero. The company has also managed to reduce costs by focusing on operational efficiencies and expanding in existing cities.
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10-Minute Food Delivery: Why Swiggy Is Still Betting on Bolt While Zomato Walks Away
OutlookIndia
·
2m ago
Medial
Swiggy and Zomato have diverged in their approach to 10-minute food delivery services. Swiggy continues to invest in its Bolt service, which contributes 12% to its food delivery volumes, seeing it as a growth opportunity. In contrast, Zomato has exited the segment due to profitability challenges. While Swiggy aims to enhance market share through Bolt, industry experts question the long-term viability and profitability of such quick delivery models.
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Swiggy 'very well positioned', eyeing organic growth for Instamart: Rohit Kapoor
Economic Times
·
9m ago
Medial
Swiggy, the Indian food delivery platform, is well-positioned for growth and is planning an IPO to raise Rs 11,327 crore. Swiggy's CEO, Rohit Kapoor, stated that the company is focused on organic growth but is open to acquisitions for its quick commerce arm, Instamart, if the opportunity arises. The IPO will consist of a fresh issue of shares worth Rs 4,499 crore, alongside an offer for sale of Rs 6,828 crore. The funds raised will be used for technology investments, marketing, debt payment, and general corporate purposes. Swiggy reported a narrower loss of Rs 611 crore in Q2 2024 compared to the previous year.
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Swiggy’s standalone app Snacc: Here’s all you need to know about it
Economic Times
·
7m ago
Medial
Swiggy launched a standalone app, Snacc, for 10-minute food delivery, expanding its quick commerce offerings alongside Bolt. Competitors like Zomato, Blinkit, and Zepto are also active in this rapid delivery space. Snacc focuses on delivering fast food and drinks from nearby locations, while Bolt delivers from restaurants. The market is seeing growth, with Swiggy's Bolt contributing to 5% of overall delivery volumes, though concerns about profitability and sustainability persist.
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