Swiggy

Zepto, an Indian quick commerce startup, has more than doubled its valuation to $3.6 billion in a new funding round of $665 million.

Zepto, a 10-minute delivery app, raises $665M at $3.6B valuation

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Can quick commerce leapfrog e-commerce in India?

Even as quick commerce startups are retreating, consolidating or shutting down in many parts of the world, the model is showing encouraging signs in India. Consumers in urban cities are embracing the convenience of having groceries delivered to their doorstep in just 10 minutes. The companies making those deliveries —…

4 days ago
Can quick commerce leapfrog e-commerce in India?

Goldman Sachs said in a report late Thursday that Indian food delivery giant Zomato’s quick commerce arm Blinkit is now more valuable than its core food delivery business, as per…

Zomato’s quick commerce unit Blinkit eclipses core food business in value, says Goldman Sachs

Swiggy, an Indian food delivery and instant commerce startup, plans to raise $1.25 billion in an initial public offering and has secured approval from its shareholders, it disclosed in a…

Swiggy, the Indian food delivery giant, seeks $1.25B in IPO after receiving shareholder approval

Indian quick-commerce startup Zepto has surpassed the annualised sales milestone of $1 billion within 29 months of its inception, Goldman Sachs wrote in a note Thursday, citing Zepto management. Zepto,…

India’s Zepto zooms to $1.2B in annualized sales in 29 months, Goldman says

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Quick commerce is making fast inroads in India

Even as quick commerce is slowly fading in many markets and several heavily funded startups have folded shop in the past two years, India is emerging as a striking outlier where the model — of delivering items to customers in 10 to 20 minutes — appears to be working. India’s…

8:00 pm PDT • March 11, 2024
Quick commerce is making fast inroads in India

Baron Capital, an investor in Indian food delivery startup Swiggy, has increased the value of its stake in the Indian firm, implying a valuation of $12.16 billion, surpassing the $10.7…

Baron boosts Swiggy valuation to $12.16B, above prior private market value

Indian food delivery startup Swiggy is cutting about 400 jobs, or nearly 7% of its workforce, as the startup seeks to bring further improvements to its finances ahead of a…

India’s Swiggy to cut another 400 jobs amid IPO push

Conditions appear to be shifting favorably for India’s Swiggy. The food delivery startup — backed by SoftBank, Prosus and Accel — saw its paper valuation slashed by more than half…

Invesco raises Swiggy’s valuation to nearly $8 billion

Instant grocery delivery startup Zepto has raised $200 million in a new funding round at a valuation of $1.4 billion, it said Friday, at a time when most other firms…

Zepto becomes India’s first 2023 unicorn with $200 million fresh funding

Swiggy has become the latest Indian startup to offer its customers a credit card as the food delivery giant broadens its efforts to drive engagement and retention. The Bengaluru-headquartered startup…

India’s food delivery giant Swiggy launches credit card

Swiggy has entered into a definitive agreement to acquire LYNK, a retail logistics startup with a network of over 100,000 stores, the latest in a series of purchases by the…

Indian food delivery giant Swiggy acquires LYNK in retail distribution push

India’s Swiggy said on Thursday that its marquee food delivery business has become profitable, eclipsing its publicly listed rival Zomato on another key metric a day before the firm is…

Swiggy’s food delivery business reaches profitability

Ola, an Indian ride-hailing startup, has seen its valuation trimmed by its backer Vanguard amid a weakening global economy that has significantly impacted market capitalizations across numerous public companies. Vanguard…

Vanguard trims Indian ride-hailing giant Ola’s valuation by 35%

Shares of Indian food delivery firm Zomato ended session on Tuesday at a decline of 6%, hours after it became known that Invesco had cut the valuation of its rival…

Zomato shares plunge after Invesco cut rival Swiggy’s valuation

Invesco, which led Swiggy’s previous round, has marked down the Indian food delivery giant’s valuation in its holding to about $5.5 billion, according to a filing. This revised valuation, as…

Invesco cuts Swiggy valuation by half to $5.5 billion

Byju’s and Swiggy, among the biggest Indian startups, are taking a haircut in their valuations — at least in the eyes of their backers.

US investors slash Byju’s and Swiggy valuation

Reliance Retail and Google, two existing backers of Dunzo, are among those holding discussions to invest in the new round, sources said.

Reliance-backed Dunzo nears fresh funding of $50 million

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India’s gig economy drivers face bust in the country’s digital boom

Suneeta Kohli, a female Uber driver in New Delhi, had her account suddenly disabled one evening while she was en route to pick up a rider in a southern part of the capital city. “I was reaching the destination, but it took some time due to heavy traffic. The ride…

1:59 am PST • January 25, 2023
India’s gig economy drivers face bust in the country’s digital boom

Swiggy plans to lay off 380 jobs and shut down its meat marketplace as the Prosus Venture and SoftBank-backed Indian food delivery giant looks to navigate the market downturn that…

Indian food delivery giant Swiggy to cut 380 jobs

Research firm Fairwork India blasted Ola, Uber, Dunzo, PharmEasy and Amazon Flex in a report Tuesday, saying the firms scored zero in its assessment of whether they created fair conditions…

Uber and Amazon blasted for poor working conditions for gig workers in India

Amazon will shut down its food delivery business in India by the end of the year, the retailer said Friday, retreating from a $20 billion vertical it entered less than…

Amazon to shut down food delivery business in India

Uber’s ride with Zomato has concluded. The ride-hailing firm sold its 7.8% stake in the lossmaking food delivery firm on Wednesday for over $390 million, a person familiar with the…

Uber exits Zomato investment for over $390 million

Updated at 4.15 PM on July 26: Shares of Zomato dropped to as low as 41.25 Indian rupees (52 cents), wiping the company’s market cap to $4.11 billion. Shares of…

Zomato drops to all-time low as lock-in period ends

Zomato has acquired Blinkit, a struggling 10-minute grocery delivery startup, in a $568.1 million all-stock deal as the loss-making food delivery firm looks to broaden its offerings at a time…

Zomato acquires Blinkit for $568 million in instant-grocery delivery push

Google-backed DotPe, which helps businesses in India go online and sell digitally, is in advanced stages of talks to raise about $50 million in a new financing round, a source…

Temasek in talks to invest in Google-backed DotPe

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Swiggy has amassed millions of users in India, helping them order food and grocery online in the country. The seven-year-old startup, India’s most valued food tech, is now looking to…

Indian food delivery giant Swiggy is acquiring Dineout for $200 million

Instant grocery startup Zepto has raised $200 million in a new financing round as it looks to expand its 10-minute delivery service to more cities in India and grow its…

Zepto, a 10-minute grocery delivery app, raises $200 million at $900 million valuation

UrbanPiper, a restaurant management platform that processes 18% of all online food orders in India, has raised $24 million in a new financing round from a number of investors including…

Swiggy and Zomato, food delivery rivals in India, back UrbanPiper in $24 million funding