🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
Swiggy’s Instamart bled $125 mn in 3 quarters
The Arc Web
·
1y ago
Medial
Swiggy's quick-commerce business, Instamart, has been facing significant losses while the core food-delivery operations are getting closer to profitability. From April to December 2023, Instamart reported an EBITDA loss of over Rs 1,040 crore ($125 million) on revenues of Rs 950 crore ($114 million). Swiggy's food delivery unit has shown improvement, turning EBITDA positive in January 2024, earning around $5 million or Rs 40 crore each month. However, Swiggy still lags behind Zomato in terms of market share and the valuation for Swiggy's upcoming IPO might be lower than Zomato's.
View Source
2
Related News
Swiggy adds 2,000 employees in FY25 on back of Instamart blitz - The Economic Times
Economic Times
·
10d ago
Medial
Swiggy expanded its workforce by about 2,000 employees in fiscal 2025, reaching a total of 7,431. This growth was primarily driven by the expansion of its quick commerce business, Instamart, which increased its network by approximately 100 cities and added 498 new stores. Instamart showed early profitability, despite the company’s overall net loss widening to Rs 3,117 crore. Swiggy’s revenue from operations grew by 35% to Rs 15,227 crore during this period.
View Source
Swiggy crosses Rs 4,000 Cr revenue in Q3 FY25, InstaMart grows 2.1X
Entrackr
·
6m ago
Medial
Swiggy crosses Rs 4,000 Cr revenue in Q3 FY25, InstaMart grows 2.1X Swiggy’s food delivery business continues to be a major contributor, accounting for 34.23% of the total collection in Q3 FY25. Foodtech and quick commerce major Swiggy has managed a 31% year-on-year growth in its operating revenue which spiked to Rs 3,993 crore during Q3 FY25 as compared to Rs 3,048 crore in Q3 FY24. Swiggy’s food delivery business continues to be a major contributor, accounting for 34.23% of the total collection in Q3 FY25. Revenues from this vertical grew 3% to Rs 1,367 crore from Rs 1,326 crore in Q3 FY24. The company’s quick commerce segment also saw remarkable growth, with revenue surging by 113% to Rs 576 crore in Q3 FY25 from Rs 270 crore in Q3 FY24. The segment's gross order value (GOV) growth was driven by an increase in order frequency and the addition of new dark stores, contributing significantly to the company’s overall revenue.
View Source
Swiggy shares rise 7% after Morgan Stanley's 'overweight' call
Inshorts
·
2m ago
Medial
Swiggy’s share value rose 7% after Morgan Stanley rated it ‘Overweight’, citing strong market position, growth in smaller cities, and innovations like Instamart and Swiggy One. The bullish outlook boosts confidence ahead of its expected 2025 IPO. Backed by a $10 billion valuation, Swiggy's momentum reflects rising investor optimism in India's consumer tech and quick commerce sectors.
View Source
Amazon goes live with quick commerce service Now in Bengaluru
Economic Times
·
1m ago
Medial
Amazon has launched its quick commerce service, Amazon Now, in Bengaluru, marking its entry into India's 10-15 minute delivery market. Initially available in three pin codes and on a beta basis, the service includes groceries, beauty products, and more. To support operations, Amazon has established several dark stores in the city. Competing with companies like Blinkit, Swiggy’s Instamart, and others, Amazon plans further expansion soon.
View Source
Zomato shares fall 5% following Jefferies downgrade, target price slashed to Rs 275
Economic Times
·
7m ago
Medial
Zomato shares fell nearly 5% after Jefferies downgraded them to "hold" from "buy," cutting the target price to Rs 275 due to concerns over rising competition in the quick commerce sector. Rivals like Swiggy’s Instamart and Amazon threaten Zomato's profitability, leading Jefferies to lower earnings forecasts, EBITDA estimates, and EPS projections for Blinkit and Zomato. Despite Zomato's strong past performance, the competitive landscape poses risks to medium-term profitability.
View Source
JioMart unlikely to break into quick commerce top tier: BofA
Economic Times
·
1m ago
Medial
A Bank of America Global Research report suggests Reliance Retail's JioMart is unlikely to become a top player in the quick commerce sector due to its 30-minute delivery model. Unlike Blinkit, Zepto, and Swiggy’s Instamart, which utilize dark stores for faster service, JioMart operates from existing retail locations, limiting its market penetration. The report notes that dark store coverage is expanding, with competitors already capturing 85–90% of the market.
View Source
Exclusive: Swiggy offers 20% discount to HNIs in pre-IPO deal
Entrackr
·
1y ago
Medial
The Swiggy IPO is around the corner and the company has started preparing the ground for a debut on the stock exchange, likely after the general election. The firm turned into a public entity earlier this week and shortlisted bankers for running the IPO syndicate. While Entrackr exclusively reported about the firm’s conversion into the public entity and its financial numbers in three quarters of FY24, wealth managers on Swiggy’s behalf have been pitching a pre-IPO deal to high net-worth individuals (HNIs) to buy its shares at 20% discount on its current valuation, according to three sources aware of the details. “The company is offering shares at Rs 350 a piece and at a valuation of Rs 80,000 crore ($9.6 billion) valuation. This is roughly a 20% discount,” said one of the sources requesting anonymity According to sources, Swiggy’s current valuation stands at around Rs 1,00,000 lakh crore (over $12 billion). “The minimum investment in the round is Rs 25 lakh,” added the above-quoted person. It’s worth highlighting that US-based investor Invesco recently marked up Swiggy’s valuation up to $12.7 billion, indicating an optimistic outlook for the food tech company. It’s worth noting that it was the second markup in its value by Invesco and overall third for the Bengaluru-based foodtech decacorn. Queries sent to Swiggy did not elicit an immediate response. Swiggy booked Rs 5,476 crore in revenue from operations and Rs 1,600 crore loss during the first three quarters of the financial year FY24. Its revenue and losses stood at Rs 8,265 crore and Rs 4,179 crore, respectively, in the fiscal year ending March 2023. Meanwhile, rival Zomato’s revenue from operations stood at Rs 8,552 crore during the first three quarters of FY24. The firm, which made its public debut in 2021, also booked Rs 178 crore profit during the period. Currently, Zomato’s market cap hovers around $20.7 billion. That being said, Swiggy is marching ahead with its IPO plans as market sentiments appear to turn increasingly bullish following a year of the so-called ‘funding winter’. This is evident from recent valuation markups of several startups, including Meesho, PineLabs, FirstCry, and Ola Electric which are gearing up to go public either this year or early next year. While the sterling turnaround in peer Zomato’s numbers might give cause for optimism to Swiggy’s investment bankers, they will be aware that powering Zomato is the sharp rebound in the performance of Blinkit, its quick delivery platform. Swiggy’s Instamart by contrast, has been a laggard in the space. Lending further credence to the fact that profits on the IPO are hardly a given for investors is the matter of aggregate losses, unlike Zomato. It seems fairly certain that a successful IPO will be followed by at least a year or more of losses for Swiggy, or subdued growth, if it chooses to staunch losses. The $12 billion valuation in private markets, by that measure, seems too optimistic yet, perhaps a fairer indication of value in FY26, than in FY25, if at all.
View Source
Swiggy may recover quick commerce share despite widening losses: Morgan Stanley
Economic Times
·
2m ago
Medial
Morgan Stanley predicts a strong future for Swiggy’s quick commerce despite rising losses and expenditure. Swiggy's quick delivery service, Instamart, saw a 101% increase in gross order value, although adjusted Ebitda losses reached Rs 840 crore. The brokerage revised the quick commerce market's potential to $57 billion by 2030. Swiggy, with significant investments in infrastructure, plans to expand its network of dark stores and capitalize on growth, maintaining its market share amidst increasing competition.
View Source
Swiggy 4-6 quarters behind Zomato: Macquarie
Inshorts
·
9m ago
Medial
Global brokerage Macquarie said IPO-bound Swiggy seems to be 4-6 quarters behind Zomato. Swiggy's gross order value is around 26.5% lower than Zomato's, Macquarie said, adding that the former also has a lower monthly transacting user base. In quick commerce business, Zomato's Blinkit outperforms Swiggy's Instamart, which remains loss-making, the brokerage stated.
View Source
Swiggy Instamart Architect Karthik Gurumurthy’s Venture Nets $3 Mn Led By Matrix Partners India
Inc42
·
1y ago
Medial
Karthik Gurumurthy, the former senior vice president of Swiggy and the architect behind Swiggy Instamart, has reportedly secured $3 million in funding for his new offline retail venture called Convenio. The funding round is led by Matrix Partners India and angel investors. Convenio aims to provide good quality fresh produce at affordable prices and will operate in the offline space, mirroring Swiggy's business model. Gurumurthy's departure from Swiggy was announced in November last year.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in