Zomato and Swiggy termed news reports on the Competition Commission of India's (CCI) investigation "misleading", maintaining that the CCI is yet to pass its final order on the matter of unfair business practices, including alleged preferential treatment to some restaurant partners

Tata Digital’s Bigbasket has partnered with Tanishq and MMTC-PAMP to offer gold and silver coins and bars

Nearly 5,000 current and former employees are set to benefit, with around 500 Swiggy employees to enter the ‘crore-pati’ club when the firm makes its stock market debut, according to sources

Geojit considers Swiggy’s strong brand recall, diversified offerings, integrated app, rapid scaling, consistent innovation, expansion of dark stores, and promising industry outlook.

According to Rajan Shinde, Research Analyst at Mehta Equities, Swiggy’s market cap to sales ratio of 7.8x appears fairly valued compared to competitor Zomato.

Analysts view Swiggy’s diverse portfolio, encompassing food delivery, grocery services, and restaurant reservations, as a competitive advantage over rivals like Zomato.

Swiggy confronts intense competition from Zomato in the food delivery sector, potentially impacting its market share and customer acquisition costs.

Swiggy IPO: Retail portion booked 0.84 times, QIBs 0.28 times, NIIs 0.14 times, and employee portion 1.15 times.

While acknowledging Swiggy’s growth potential in hyperlocal commerce, Bajaj Broking cautions investors about ongoing financial risks.

Swiggy operates in an oligopoly market: Motilal report

Swiggy’s B2C operations account for 61 per cent of revenue and its B2B supply chain segment contributes a substantial 39 per cent, marking a key distinction from Zomato’s business structure

Issue subscribed 0.35 times so far with retail investors portion receiving 0.85 times

Swiggy IPO targets ₹11,327.43 crore through a combination of fresh issue worth ₹4,499 crore and offer for sale of 17.51 crore shares worth ₹6,828.43 crore

Raises ₹5,085 crore from institutional investors; company betting big on enhancing quick commerce segement

With large IPOs like LIC and Hyundai India faltering, Swiggy’s listing today is expected to be muted, as analysts remain cautious amid subdued retail demand and challenging market conditions

A Competition Commission probe has found that food delivery platforms Zomato and Swiggy indulged in unfair business practices, including alleged preferential treatment to some restaurant partners, according to sources. The detailed investigation was ordered by the Competition Commission of India (CCI) in April 2022 and the probe report was submitted to the regulator earlier this year. Under the norms, CCI director general's report has been shared with the parties concerned and later, they will be called for hearings by the watchdog.

Rahul Jaimini will be joining Pesto Tech, a career accelerator startup as their co-founder

With this partnership, MTR products such as masalas, spices, Ready-To-Eat meals and breakfast mixes will be accessible through MTR stores and kirana tabs on Swiggy.

The survey, conducted by YouGov, an Internet-based market research and data analytics firm, showed that between March 15-April 16 this year, Zomato witnessed a weakening customer base from 46.3 to 41.7 whereas for Swiggy, the scores were from 48.8 to 42.4.

Jaimini will be joining Pesto Tech, a career accelerator start-up, as their co-founder, Swiggy said in a statement.

Not every urban customer has ordered from us yet, and very few are ordering more than 20 meals a month from us. There is enough and more to be done in the food delivery marketplace

A founder leaving a large internet company hasn’t been a very common move in the Indian startup ecosystem. Nonetheless, in a similar instance, Zomato’s co-founder Pankaj Chaddah had left the company in 2018 after 10 years.

The layoffs will take place from its cloud kitchens across nearly ten Tier 1 and 2 cities.

The post India: Swiggy to lay off 500 people from cloud kitchens amid virus outbreak appeared first on DealStreetAsia.

Jaimini had co-founded Swiggy along with Sriharsha Majety and Nandan Reddy in 2014.

The post India: Swiggy’s co-founder and CTO Rahul Jaimini quits, to join Pesto Tech appeared first on DealStreetAsia.

Swiggy has instructed restaurant and delivery partners to follow a strict sanitisation process, and also issued a fundraiser for the underprivileged.

The restaurant aggregator and food delivery apps are really growing up. But does that mean existing businesses will be impacted, because they'll have their jobs replaced by Zomato and Swiggy?

The food delivery industry has emerged as one of the biggest online platforms with several new companies starting up in a past decade. The shape of the market is changing with a breakneck speed with players like Swiggy, Zomato, Foodpanda, Uber Eats, and many others.

 East India Comedy’s stand-up comedian threw a reunion in collaboration with the food delivery platform Swiggy for its philanthropic initiative Hope,

Mohandas Pai expects food delivery platforms Swiggy and Zomato, as well as PhonePe and Myntra to list in local markets in next few years