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Zepto, an Indian quick commerce startup, has more than doubled its valuation to $3.6 billion in a new funding round of $665 million.
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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 —…
Zomato’s quick commerce unit Blinkit eclipses core food business in value, says Goldman Sachs
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…
Swiggy, the Indian food delivery giant, seeks $1.25B in IPO after receiving shareholder approval
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…
India’s Zepto zooms to $1.2B in annualized sales in 29 months, Goldman says
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,…
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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…
Baron boosts Swiggy valuation to $12.16B, above prior private market value
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…
In Mamaearth, Peak XV finds its fourth 10x return since Sequoia separation
In the oversubscribed IPO of Mamaearth, Peak XV Partners has found its fourth 10x or greater return within the six months since separating from the Sequoia family. The venture fund…
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…
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…
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…
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…
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…
Zomato said on Monday its co-founder and chief technology officer Gunjan Patidar has left the firm, the latest in a series of departures at the Indian food delivery firm whose…
Uber and Amazon blasted for poor working conditions for gig workers in India
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…
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…
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 lost $707 million on Zomato investment in first half of this year, plans to sell entire stake
Uber plans to sell its 7.8% holding in Indian food delivery firm Zomato as early as Wednesday, a source familiar with the matter told TechCrunch. The ride-hailing giant, which acquired…
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 acquires Blinkit for $568 million in instant-grocery delivery push
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…
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…
Daily Crunch: Better.com CEO Vishal Garg says he’s on the hook for $750M SoftBank loan
Hello friends and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.
Indian food delivery giant Swiggy is acquiring Dineout for $200 million
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…
Zomato tumbles below its last private valuation
Indian food delivery firm Zomato’s shares fell below 52 rupees apiece, giving it a market cap of $5.3 billion as tech stocks continue to nosedive across the globe. At a…
Zepto, a 10-minute grocery delivery app, raises $200 million at $900 million valuation
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…
Swiggy and Zomato, food delivery rivals in India, back UrbanPiper in $24 million funding
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 backs bike taxi platform Rapido in $180 million funding
Swiggy has led a $180 million financing round into bike taxi startup Rapido as the Indian food delivery giant looks to broaden its fleet network across the country, the two…
India orders antitrust investigation into Zomato and Swiggy conduct
The Indian antitrust watchdog ordered a wide-ranging investigation into the conduct of food delivery firms Zomato and Swiggy on Monday over whether they are operating as “neutral” following a complaint…
Daily Crunch: Corporate management startup Ramp doubles its valuation to $8.1B with new financing
Hello friends and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.
India’s Zomato says it will deliver food in 10 minutes in a global first
You’ve heard about — and depending on where you live, probably tried — having startups deliver grocery to you in 10 minutes. But what if the same experience could be…
