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Tag: Swiggy

  • Swiggy’s landmark IPO wins equity issue of the year at IFR Asia Awards 2024

    Swiggy’s landmark IPO wins equity issue of the year at IFR Asia Awards 2024

    MUMBAI : Swiggy has made headlines by clinching the Equity Issue of the Year 2024 award at the IFR Asia Awards, recognising its record-breaking IPO that raised Rs 11,327.43 crore. As India’s top on-demand convenience platform, Swiggy’s public debut wasn’t just a financial milestone but a statement of its growing influence in the consumer-tech space.

    Swiggy’s shares debuted on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on 13 November 2024, receiving a strong market response.

    Swiggy CFO Rahul Bothra said , “Receiving the ‘Equity Issue of the Year’ award from IFR Asia is a significant honour. This recognition reflects our strong business fundamentals, operational excellence, and the confidence of both Indian and global investors. The overwhelming response to our IPO underscores our vision to redefine convenience while fostering a sustainable, technology-driven ecosystem. We remain committed to delivering long-term value to all stakeholders.”

    Presented by the International Finance Review (IFR), the IFR Asia Awards are among the most prestigious honours in the financial industry, celebrating excellence in capital markets across the Asia-Pacific region. Swiggy’s IPO has set a new benchmark in the consumer technology sector, highlighting its scale, resilience, and promising growth trajectory.

  • Sony LIV’s Shark Tank India 4 nets record sponsors and high viewer interest

    Sony LIV’s Shark Tank India 4 nets record sponsors and high viewer interest

    MUMBAI: Buckle up, entrepreneurs and dreamers! Shark Tank India 4 is back on Sony LIV, and this season isn’t just swimming in talent—it’s making waves with a powerhouse lineup of sponsors. The much-loved reality show, now streaming, continues to inspire, educate, and entertain audiences by shining a spotlight on India’s most ambitious and innovative business minds. With bold pitches, high-stakes deals, and cutting-edge ideas, this season is set to redefine entrepreneurship for the country.

    The show’s impressive sponsor roster includes Acko, Pokerbaazi, and Swiggy Instamart as co-presenting sponsors, along with Adani and Jaguar as co-powered sponsors. Partner sponsors Rayzon Solar, Icici Direct, Lenskart, and Sofy have also joined the entrepreneurial bandwagon, leveraging Shark Tank’s wide reach to connect with India’s ever-growing startup ecosystem.

    This season, a star-studded panel of sharks leads the charge. Returning favourites like Anupam Mittal (People Group), Aman Gupta (boAt Lifestyle), Namita Thapar (Emcure Pharmaceuticals), Peyush Bansal (Lenskart), and Vineeta Singh (Sugar Cosmetics) are joined by new faces, including Ritesh Agarwal (OYO), Kunal Bahl (Snapdeal), and Varun Dua (Acko). Each brings their unique expertise to enrich conversations and inspire India’s next wave of entrepreneurs.

    Sony LIV head of ad sales revenue Ranjana Mangla highlighted the show’s success, “Shark Tank India has redefined reality TV in the country, blending inspiration with entertainment to captivate viewers. It offers brands a unique platform to showcase impactful campaigns and connect with a diverse audience. Partnering with the show taps into the entrepreneurial spirit, fostering meaningful connections and leaving a lasting impression. The show’s phenomenal success, driving 40 per cent growth on CTV and 27 per cent growth in engagement, is fuelled by great content. This season also features a wide range of business pitches, from traditional ventures to cutting-edge tech.”

    Acko CMO Ashish Mishra, explained their commitment to the show, “Acko’s association with Shark Tank India has always celebrated change. We want to continue putting a spotlight on changemakers – the entrepreneurs who have the vision to drive positive change in society. Our changemakers have always had bold ideas and creative solutions and used their skills for the betterment of our country. With the Changemaker Wall, we have taken this spotlight to the next level. We worked with talented artists from across the country and asked them to express their interpretation of positive change. These incredible pieces of art, along with the talented entrepreneurs from Shark Tank, come together to showcase our commitment towards positive change. Together, we are championing a future where innovation meets purpose.”

    Baazi Games CEO Navkiran Singh shared a unique perspective, “Both Poker and entrepreneurship thrive on strategy, risk management, and adaptability. The skills required to build a business, such as making calculated decisions and staying resilient, are equally vital in Poker, making the two deeply interconnected. That’s why we are thrilled to continue our partnership with Shark Tank for its third season. This platform is a celebration of the ‘Make in India for the World’ vision and a catalyst for empowering entrepreneurs to build exceptional businesses. Its growing popularity perfectly aligns with the spirit of innovation and strategy that we at Baazi Games deeply value.”

    Swiggy Instamart CEO Amitesh Jha expressed his excitement about the collaboration, “We’re just a week into the launch of Shark Tank 4, and already, we’re witnessing some incredible products and promising entrepreneurs. This partnership is particularly exciting for us at Swiggy Instamart, as we’re always looking for ways to bring exciting new D2C brands to users and it aligns with our core value of making innovation both a reality and easily accessible to consumers. What’s also exciting is that we get to offer these debut products to our customers through Swiggy Instamart, delivering them within minutes giving a great boost to these brands.”

    With its growing popularity, Shark Tank India 4 promises not only to entertain but also to empower. By pairing inspiring entrepreneurial stories with top-tier brand partnerships, the show cements its role as a beacon for innovation and ambition in India.

    Catch Shark Tank India 4 every Monday to Friday at 8 pm, exclusively on Sony LIV.

  • FHRAI raises concerns over Zomato & Swiggy’s private label business

    FHRAI raises concerns over Zomato & Swiggy’s private label business

    MUMBAI: This was bound to happen. Especially with the quick commerce guys evolving from delivery to making their own food products (call them private labels)  and delivering them. This is ruining the appetite of  hoteliers and restaurant owners.  

    And they are voicing their irritation through their representative body – The Federation of Hotel & Restaurant Associations of India (FHRAI), the world’s third-largest hospitality association which has voiced strong objections to Zomato and Swiggy’s entry into the private label food delivery business.

    The association has alleged unfair competition, misuse of restaurant data, and potential food safety risks, citing the platforms’ market dominance as detrimental to the businesses they were initially designed to support.
    FHRAI has announced its intention to meet with the ministry of commerce to push for regulatory action to ensure fair practices in the food service sector.

    The association’s concerns center on the alleged misuse of proprietary restaurant data by Zomato and Swiggy. This data, encompassing customer preferences, sales trends, and order histories, is reportedly being used to create personalised deals and develop private label products.

    FHRAI vice-president Pradeep Shetty  highlighted the ethical and legal implications of these practices. “These platforms were originally designed as neutral marketplaces to connect consumers with restaurants. However, by introducing and promoting their own food products, they are exploiting sensitive data to compete directly with the restaurants they serve. This creates an uneven playing field and jeopardises the livelihoods of small and medium-sized businesses,” said Shetty.

    He further emphasised that restaurants lack access to the same data, making it even harder for them to compete in an already challenging market.

    Another significant issue raised by  the FHRAI is the lack of transparency surrounding food safety standards for these private label products. While restaurants are subject to stringent safety regulations, the same standards may not be enforced for products sold by the platforms. This lack of accountability, FHRAI argues, could undermine consumer trust and damage the reputation of the restaurant industry.

    Originally established to connect restaurants with customers, Zomato and Swiggy have expanded their operations into the quick commerce space by creating private label food products. This move has raised fears of monopolistic practices, as the platforms now control not just the distribution but also the creation and sale of food.

    The association warned that without clear regulations, these developments could harm competition and consumer choice in the food service market.

    FHRAI is advocating for enforceable guidelines to:
    * Protect restaurant data from misuse.
    * Ensure private label food products meet the same safety and quality standards as restaurant food.
    * Maintain transparency and fairness in the food service industry.

    “We urge regulators to take swift action to address these issues. A transparent and competitive environment is essential for the survival and growth of all stakeholders, including restaurants, delivery platforms, and consumers,” Shetty stated.

    Will the regulators do something to restore the FHRAI’s appetite?

  • Swiggy partners with Blue Tokai Coffee Roasters for Snacc app

    Swiggy partners with Blue Tokai Coffee Roasters for Snacc app

    MUMBAI:  Swiggy wants coffeeholics to swig more than a cuppa. At home. India’s leading on-demand convenience platform has announced a strategic partnership with Blue Tokai Coffee Roasters for its newly launched Snacc app.

    Snacc  provides a wide variety of high-quality food, offering quick discovery, seamless checkout, and fast delivery. It features breakfast staples, baked goods, healthy food options, snacks, and beverages, catering to diverse consumer needs.

    Through this collaboration, customers can now enjoy a selection of Blue Tokai’s premium coffees, including Americano, Cappuccino, Flat White, Iced Americano, Latte, and Vietnamese Iced Coffee, and have it delivered to their doorstep in just 15 minutes.

    Snacc business head Satheesh Raman said: “Swiggy has been committed to delivering high-quality food since 2014, and with the launch of Snacc we aim to further simplify life for consumers with quick, convenient food solutions. We are excited to partner with Blue Tokai Coffee Roasters to bring exceptional coffee to our users. This partnership is just the beginning, and we’ll continue to seek out brands that share our commitment to quality.”

    Blue Tokai co-founder & COO Shivam Shahi added, “We’re passionate about delivering high-quality coffee with speed and convenience. This partnership with the Snacc  app will allow us to offer our coffee to a new generation of customers who value both quality and fast delivery.”

    The Snacc app is designed to offer unmatched convenience, particularly for young working professionals looking for high-quality food options, whether at home or in the office. It is available for download on the App Store and Google Play Store.

    (The picture for this story has been generated using Microsoft Designer. No copyright infringement is intended nor is there any intention to hurt any brand’s sentiment. It is being just as a visual support for the story.)

  • Bookmyshow brings festive cheer with ‘You Make the Excuse, We’ll Make the Plan’

    Bookmyshow brings festive cheer with ‘You Make the Excuse, We’ll Make the Plan’

    MUMBAI: Picture this: It’s 24 December, and your boss sends a late-night email about a year-end report. You glance at the clock-it’s almost Christmas. The scent of gingerbread wafts through the air, twinkling lights paint your living room, and your family awaits a cozy movie marathon.

    But instead of holiday cheer, you’re drafting excuses: ‘Family emergency’, ‘Last-minute volunteering’, or the classic, ‘Wi-Fi issues’.

    Enter Bookmyshow with its cheeky campaign, “You Make the Excuse, We’ll Make the Plan”.

    Aimed at the excuse-spinning, memory-making crowd, this initiative captures the chaotic charm of the festive season. It nudges us to swap the guilt for good times-whether it’s a concert under the stars, a theatrical masterpiece, or a blockbuster movie night.

    Because, let’s be honest, between spreadsheets and stage lights, what truly matters are the moments spent with those who make life a celebration.

    After all, deadlines can wait, but New Year’s fireworks? They won’t.

    The campaign shines a spotlight on the seasonal tug-of-war between professional responsibilities and festive celebrations. With hilarious portrayals of employees drafting imaginative leave excuses—from celebrating a cousin’s goldfish’s birthday to answering the irresistible call of the mountains—Bookmyshow highlights the joys and challenges of the year-end rush.

    The narrative unfolds through two engaging videos. One captures the employees’ perspective, showcasing their comical efforts to justify time off for entertainment plans booked on Bookmyshow. The other flips the script, offering the boss’s viewpoint as they navigate a wave of creative leave applications, eventually succumbing to the festive cheer themselves with an out-of-office email, “Finding my Inner Peace.”

    The campaign urges audiences to laugh at relatable workplace moments and embrace the holiday spirit by booking their festive plans early.

    Bookmyshow head of marketing, Dolly Davda shared her thoughts, “As the year comes to a close, the festive season offers a perfect opportunity to pause, relax and celebrate. With ‘You Make the Excuse, We’ll Make the Plan,’ we’ve captured the relatable humour, where balancing responsibilities and revelry becomes part of the holiday tradition. This campaign encourages people to take a well-deserved break and focus on what truly matters—spending quality time with loved ones and creating unforgettable memories.”

    Adding to the campaign’s charm, leading brands joined the fun with quirky out-of-office replies. From Maybelline India’s “OOO or not, servin’ looks is our top priority” to Swiggy India’s cheeky “Sounds like a January problem”, the campaign sparked a wave of festive humour, resonating with audiences across platforms.

    Whether it’s grabbing tickets to blockbuster movies, live performances, nature treks, or spectacular New Year’s bashes, Bookmyshow promises seamless planning for all entertainment needs. This campaign reminds audiences that the holiday season is all about cherishing moments and embracing the joy of celebration.

    Still mastering the art of excuses?

  • Swiggy’s awe striking revenue surge feeds growth, but losses deepen

    Swiggy’s awe striking revenue surge feeds growth, but losses deepen

    MUMBAI: They bring us joy with a click, delivering steaming biryanis, comforting gulab jamuns, and all things delightful, right to our doors. But behind every pop notification—’Miss me?’ from our favorite desserts—lies a story of grit, ambition, and relentless pursuit. Swiggy, India’s food delivery and quick commerce titan, has filled our carts with convenience, but at a cost that has left its own coffers under strain. In its Q2 FY25 results, unveiled on 3 December 2024, Swiggy showcased an awe-inspiring surge in revenues by 30 per cent YoY to Rs 36,015 million. Yet, this celebratory crescendo is tempered by an echo of concern—net losses have deepened, reflecting the challenges of sustaining growth while keeping an expansive team and ecosystem thriving. It’s a tale as flavorful as their marketing, and as complex as their financials—balancing indulgence with accountability.

    Swiggy’s total revenue from operations increased by 30.2 per cent YoY, reaching Rs 36,015 million in Q2 FY25 compared to Rs 27,633 million in Q2 FY24. This leap reflects strong performance across key segments, particularly food delivery and quick commerce. However, the company’s consolidated losses stood at Rs 6,255 million for the quarter, marking an 8.6 per cent rise from the Rs 5,751 million loss recorded in the same period last year.

    The increase in expenses, driven by marketing, logistics, and employee benefits, strained profitability despite robust revenue growth. Total expenditure for Q2 FY25 amounted to Rs 43,095 million, a 22.8 per cent increase YoY. Swiggy’s continued focus on customer acquisition and brand building weighed heavily on its bottom line.

    Key drivers:

    ●   Food Delivery: As Swiggy’s flagship segment, food delivery generated Rs 15,745 million in revenue, reflecting a YoY growth of 22.9 per cent. Enhanced customer loyalty programs and competitive pricing played pivotal roles in this growth.

    ●   Quick Commerce (Instamart): Quick commerce revenues skyrocketed by 135.4 per cent YoY, reaching Rs 4,900 million, emphasising Swiggy’s commitment to diversifying its service portfolio. Strategic investments in dark stores and supply chain logistics have fueled this expansion.

    ●   Supply Chain and Distribution: This segment contributed Rs 14,526 million, up 22.0 per cent from the previous year, as Swiggy capitalised on its warehousing and fulfillment network to streamline FMCG distribution.

    ●   Platform Innovations: Revenues from platform innovations, including initiatives like Swiggy Genie, amounted to Rs 253 million but faced a decline from Rs 494 million YoY.

    Expansion comes at a cost

    Swiggy’s aggressive growth strategy comes at a significant cost. Employee benefits rose to Rs 6,073 million in Q2 FY25, up 13.2 per cent YoY, reflecting hiring and retention efforts in a competitive labor market. Delivery charges surged by 32.5 per cent to Rs 10,949 million, as Swiggy expanded operations in Tier II and Tier III cities.

    The company’s marketing expenses also increased, with advertising and promotional costs totaling Rs 5,371 million, up 8.8 per cent from the previous year. These expenditures underline Swiggy’s push to strengthen its market presence amidst fierce competition from rivals like Zomato and Blinkit.

    IPO milestones

    Swiggy’s listing on the NSE and BSE in November 2024 marked a significant milestone. The IPO raised Rs 115,407 million through fresh issues and offer-for-sale components. Proceeds were earmarked for expanding Instamart’s operations, enhancing technology infrastructure, and bolstering working capital.

    Additionally, Swiggy’s investment in its wholly owned subsidiary, Scootsy Logistics, reached Rs 1,600 crore. This infusion aims to optimise supply chain capabilities and support quick commerce scalability.

    Swiggy’s outlook hinges on its ability to navigate the profitability challenge. With over 70 per cent of revenues stemming from food delivery, diversifying its income streams is crucial. Quick commerce, which grew phenomenally in Q2 FY25, holds promise but demands continued investment.

    The company has also signaled its intent to strengthen customer engagement through tech-driven solutions and personalised services. However, the path to sustainable profitability will require stringent cost controls and efficiency enhancements across its operations.

    Swiggy’s Q2 FY25 performance paints a vivid picture of ambition clashing with financial challenges. Swiggy stands at a crossroads, its vision clear but the journey demanding resilience and bold decisions. For now, we wait—with curiosity and anticipation—to see what this culinary trailblazer serves up next in its quest to satisfy appetites and redefine the future of food.

  • Swiggy onboards Akanksha Jain in top public relations & communications role

    Swiggy onboards Akanksha Jain in top public relations & communications role

    MUMBAI: She announced her departure from BharatPe around three weeks ago. And, today, food delivery firm Swiggy announced Akanksha Jain’s appointment as assistant vice-president – public relations & communications.

    Akanksha has been associated with the communications profession, building and safeguarding brand reputations for various businesses across India and 30 markets globally for the past 18 years.

    A crisis communications specialist, Akanksha has built and led 360-degree brand communications and reputation campaigns, spearheading PR and communication strategies for technology, SMEs, and new-age companies across e-commerce and fintech companies. Amongst them: HCL Technologies, John Keells Holdings, Askme,  Power2SME, VLCC, Mobikwik, PineLabs, and finally BharatPe.

    An advocate of new-age communications, she has focused on creating strategies that are closely aligned with the brand’s purpose.

    Additionally, she has collaborated with renowned industry associations to drive public policy and build thought leadership around sustainability-led initiatives. 

  • Glance & Swiggy Instamart unite to speed up Q-commerce

    Glance & Swiggy Instamart unite to speed up Q-commerce

    Mumbai: Glance, a smart lock screen platform, and Swiggy Instamart, aquick commerce platform, have partnered to launch a one-tap purchase feature directly from Glance’s lock screens. This allows CPG brands on Swiggy Instamart to connect with over 230 million active users, simplifying the process from product discovery to purchase.

    With four out of five Android users in India interacting with Glance’s lock screen, the platform has become a key discovery point for brands. This partnership enables brands to reach users early, driving awareness and purchases with a single tap that redirects users to the product page on Swiggy Instamart.

    Glance uses Swiggy Instamart’s user data to create audience cohorts, targeting promotions more effectively. By combining Swiggy’s user preferences with Glance’s engagement data, this approach improves purchase intent and conversion rates.

    Five CPG brands have already used this feature, with one energy drink seeing a 20 per cent sales increase and a nutrition supplement brand recording a 10 per cent sales rise and seven per cent market share growth. Overall, brands experienced over 10 per cent sales growth, driven by both new and existing customers.

    InMobi consumer and performance advertising – CBO Vasuta Agarwal said, “We are excited to partner with Swiggy Instamart to transform the way India’s CPG brands drive growth on quick commerce. By integrating Glance’s premier screen presence, targeting capabilities and reach of over 230 million users with Swiggy Instamart’s quick commerce convenience, we are setting a new standard for brand engagement in today’s fast-paced digital landscape. With one-tap purchases directly from lock screens, we aim to empower CPG brands to connect with consumers in real-time, effortlessly turning intent into action.”

    Glance has deep integration with InMobi Exchange which allows Glance and Swiggy audiences to extend their advertising campaigns to mobile app users across around 30,000 apps in India. Homegrown InMobi Exchange is one of the biggest and most addressable mobile exchanges which allows brands to seamlessly extend their campaigns on other premium apps.

    Swiggy’s head of growth marketing Amitkumar Banka said, “Glance smart lock screen has proven to be a powerful first touchpoint for Android users, driving meaningful results for CPG brands on Swiggy Instamart. As Swiggy Instamart continues to grow, we’re excited to collaborate with Glance to engage users instantly, creating real-time connections that translate into tangible business results.”

    Swiggy’s director of growth Kashish Vasandani said, “This unique partnership between Glance and Swiggy allows brands on our platform to seamlessly reach their audience on either the lock screens of their smartphones or within 1000’s of other premium apps that consumers use via InMobi Exchange.”

    Glance and Swiggy Instamart aim to replicate the success of initial campaigns across hundreds of CPG brands converting everyday lock screen interactions into measurable business outcomes.

    Glance is an AI-driven platform that delivers a wide range of engaging experiences directly on Android lock screens, including games, entertainment, news, sports, and shopping, all available in seven Indian languages. By partnering with reputed publishers and developers, Glance’s AI curates premium content tailored to each user’s preferences. This allows users to access relevant information seamlessly, without unlocking their phones or navigating through multiple apps.

  • Swiggy CEO Rohit Kapoor & ambassador Rocky Singh test Bolt delivery

    Swiggy CEO Rohit Kapoor & ambassador Rocky Singh test Bolt delivery

    Mumbai: Swiggy Food CEO Rohit Kapoor recently shared his experience as a delivery partner testing Bolt, Swiggy’s new 10-minute food delivery service. He was joined by food enthusiast and Swiggy ambassador Rocky Singh, known for ‘Highway on My Plate’.

    Using GoPros, they documented their journey delivering Bolt orders across Gurgaon and spoke with other delivery partners over chai. Senior Swiggy leaders also participated, with profiles created on the rider app for the task. Rocky noted that delivery partners don’t know if an order is a Bolt order, ensuring consistent service without penalty for delivery time. Kapoor later reflected on the experience of 10-minute deliveries on social media.

  • Swiggy with team Singham creates new Guinness World Record

    Swiggy with team Singham creates new Guinness World Record

    Mumbai: Swiggy along with the team of the film Singham Again has created a new Guinness World Record for delivering the largest vada pav order in a single delivery. In collaboration with the team of Singham Again, Ajay Devgn and Rohit Shetty, Swiggy delivered 11,000 vada pavs to children from the Robin Hood Army, an NGO that focuses on fighting hunger through surplus food distribution across multiple locations in Mumbai.

    Mumbai’s iconic vada pavs from MM Mithaiwala, were delivered using Swiggy’s newly launched Swiggy XL Fleet, designed for handling bulk food deliveries. Swiggy collaborated with the Singham Again team and delivered 11,000 vada pavs across various Robin Hood Army-supported schools in Mumbai.

    The first stop was Airport High School & Junior College in Vile Parle, where Ajay Devgn, Rohit Shetty and Swiggy co-founder Phani Kishan received the order, creating a Guinness World Record for the largest number of Vada pavs delivered in a single order. The vada pavs were distributed across RobinHoodArmy-supported schools in Bandra, Juhu, Andheri East (Chandivali and Chakala), Malad, and Borivali.

    Swiggy co-founder and chief growth officer, Phani Kishan said, “In the 10 years of Swiggy, we have delivered millions of vada pavs across Mumbai, and other cities. We’re going XL by teaming up with Singham Again to set a Guinness World Record for the largest single food order for Vada pavs. This exciting event perfectly captures Swiggy’s commitment to delivering food whether big or small—and celebrates the love for Mumbai’s iconic street food in a truly spectacular Singham style.”

    Swiggy XL, a fleet of electric vehicles introduced to efficiently handle high-volume orders, played an instrumental role achieving this Guinness World Record. This first of its kind initiative demonstrated Swiggy’s focus on leveraging technology and innovation to address evolving delivery needs while making a significant contribution to the community.

    Speaking about the record, Rohit Shetty expressed, “We are elated to have collaborated with Swiggy for this record-breaking delivery of vada pav, bringing food and joy to children. Just like Singham’s larger-than-life personality and strong ethics, this initiative has achieved a meaningful cause.”

    The event concluded with children enjoying their meals, marking the success of this collaboration between Swiggy and the Singham Again team. The record-breaking delivery was made possible by Swiggy’s newly launched XL fleet designed for large scale orders. Omega Seiki Mobility (OSM) is the vehicle manufacturer with Moeving Urban Technologies Ltd. operating the fleet on the ground.

    The idea was conceptualised and executed by Havas Play. Havas Media Network India CEO Mohit Joshi said, “We’re always driven by the ambition to create meaningful connections through meaningful media that reflect cultural shifts. With Swiggy, we’ve once again tapped into the pulse of pop culture, delivering a campaign that’s bold, innovative, and community focused. Securing the coveted Guinness World Records title for the largest vada pav delivery exemplifies not only the disruptive potential of Swiggy XL but also our strategic vision in crafting high-impact, culturally resonant campaigns that redefine the industry. ”