food delivery

Swiggy on Thursday issued a clarification after a purported advertisement taking a jibe at its rival Zomato went viral on social media platforms. Taking to X, Swiggy said, “If it isn’t already obvious, this is not an ad by Swiggy. It was neither created by us nor anybody affiliated with Swiggy.”“Kindly refrain from circulating or attributing it to Swiggy,” said the company.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIIT…

A fund managed by US-based asset manager Baron Capital Group has marked up the fair value of food-delivery platform Swiggy to $12.1 billion, 13% higher than the $10.7 billion valuation at which the Bengaluru-based firm last raised funds in 2022.Baron Capital, which participated in the $700 million funding round in January 2022, has raised the fair value of its holding in Swiggy for the third time. The latest valuation was ascribed to Swiggy as of December 31, 2023, as per US Securities and Exchange Commission filings.…

The Indian Railway Catering and Tourism Corporation (IRCTC) has announced a collaboration with online food delivery platform Swiggy to supply and deliver pre-ordered meals to passengers. The delivery of the pre-ordered meals will be done through IRCTC’s e-catering portal. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitIIM LucknowIIML Executive Programme in…

Naresh Singh Shekhawat runs a grocery store N’Mart in one of the upscale condominiums of Gurgaon. He had relocated from his home state of Rajasthan to the National Capital Region (NCR) in search of a fresh future and things couldn’t have been better. But everything started going south last year. Sales have halved to Rs 26,000 per day from Rs 50,000. “Now I stock only those items that move daily—I am giving this business two years more,” he says. “I will give it my heart and soul. I will employ extra hands for quick…

With the exponential growth of food delivery apps like Zomato and Swiggy, quick service restaurant operators are finding the going tough with both their revenue and margin coming under severe stress while road to recovery is longer than estimated, says a report. The report by French brokerage BNP Paribas stated that the rising popularity of food aggregators has hurt dine-in sales of quick service restaurants (QSR) and has also fragmented delivery sales. Also, with more restaurants partnering with food delivery platforms,…

Food and grocery delivery major Swiggy has changed its registered name from Bundl Technologies Pvt Ltd to Swiggy Pvt Ltd through a special resolution passed by the shareholders of the company.“The change in the name of the company will help establish greater proximity and identification of the company’s corporate name with the company’s core brand, ‘Swiggy’,” the food delivery platform said in the resolution, as per regulatory filings made with the Registrar of Companies (RoC).Elevate Your Tech Prowess with High-Value…

Rideshare drivers rally at a staging area near O’Hare International Airport during a work strike on February 14, 2024, in Chicago, Illinois.Photo: Scott Olson (Getty Images)Uber and Lyft drivers in the U.S. are receiving tips for rides just 28% of the time, according to a study by gig worker tech company Gridwise. And that might help explain part of the reason why thousands of gig workers staged a strike on Valentine’s Day over low pay.Nvidia’s Almost Worth 2 Trillion. Is It a Bubble, or Is It Just Getting Started?The…

Uber Technologies said on Wednesday it would buy back up to $7 billion worth of company shares for the first time ever following a strong recovery in ride-share and healthy demand at its food delivery business.The company's shares, which had more than doubled last year, rose more than 8% to $74.75 in trading before the bell.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Professional Certificate in Product…

Tata Neu — the 'super app' launched by the Indian conglomerate in 2022 — is planning on entering the food delivery sector in the coming days, according to a report. Instead of building its own network, the service is said to rely on technology developed by Gurgaon-based startup Magicpin to tap into the government backed Open Network for Digital Commerce (ONDC). The Tata Group is yet to announce any plans to launch its own food delivery service in the country.A Moneycontrol report citing anonymous…

Delivery Hero said on Friday that talks for the potential sale of the company's foodpanda business in selected markets in Southeast Asia were ongoing.If an agreement is reached and signed, the transaction is expected to be subject to certain conditions, including obtaining necessary regulatory approvals in relevant jurisdictions, the company said.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitMITMIT Technology Leadership and…