Introdaction
Swiggy is an Indian online food ordering and delivery company. Founded in 2014, Swiggy is headquartered in Bangalore and operates in more than 580 Indian cities, as of July 2023.[4] Besides food delivery, the platform also provides quick commerce services under the name Swiggy Instamart, and same-day package deliveries with
Swiggy Genie.It rivals homegrown startup Zomato in food delivery and hyperlocal marketplace.
Started in 2014 by three masterminds, Sriharsha Majety, Nandan Reddy, Rahul Jaimini, Swiggy now operates in 500+ cities and has expanded to delivering groceries, and liquor. Sriharsha Majety, one of the original co-founders and the current CEO, is spearheading the
company, helping it expand and reach greater heights.
Is Swiggy available in the USA?
The food and grocery delivery platform, has introduced ‘International Logins’, a feature that allows users from 27 countries—including the United States, Canada, Germany, the United Kingdom, Australia, and the UAE—to access all the offerings on the Swiggy app using their international phone numbers.
Swiggy start in India
Swiggy, an online food ordering and delivery company, was founded in 2014 in Bengaluru, India:
Founders: Sriharsha Majety, Nandan Reddy, and Rahul Jaimini
Idea: The idea came from the founders’ observation that Indian restaurants don’t have drive-throughs, traffic is heavy, and parking is difficult
Model: Swiggy pioneered full-stack delivery facilitation, unlike most competitors who outsourced their delivery
Growth: Swiggy has grown rapidly, reaching a $10 billion valuation
Services: Swiggy offers food delivery, quick commerce services under Swiggy Instamart, and same-day package deliveries with Swiggy Genie
Operations: As of July 2023, Swiggy operates in more than 580 Indian cities
Users: Swiggy serves around 13 million users through a network of 196,000 restaurant partners
Swiggy Funding and Investments
Swiggy’s anchor investor list includes firms across EMEA (Carmignac, BNP Paribas), the US (PIMCO, Allianz Global, Matthews, Loomis, Amundi), and Asia (HSBC, Nomura, Eastspring). Leading multi-strategy funds, including Millennium, Marshall Wace, Jane Street, Citadel, and Ghisallo, also participated.Swiggy IPO opens tomorrow: Madhuri Dixit, Amitabh Bachchan, Rahul Dravid among existing investors.
Swiggy’s last funding round, led by Invesco in 2022, valued it at $10.7 billion. Get the latest news from India and how it matters to the world with the Reuters India File newsletter.In quick commerce, Swiggy’s main competitors include online e-commerce and grocery platforms such as Blinkit (owned by Zomato), Zepto, and BB Now by Big Basket.
Partnerships with Swiggy Restaurants and Food Chains
In addition to accumulating restaurants, Swiggy also has its own fleet of delivery partners. They gather the orders from partner restaurants and deliver them in less than half an hour. Swiggy works with a duel-partnership model. Restaurants can receive more orders from their customers using the Swiggy app.Swiggy Ltd., a key player in India’s food and grocery delivery sector, says it relies on a large network of gig-based delivery partners. As of June 30, 2024, Swiggy’s platform supported an average of 457,249 active delivery partners per month, up from 350,280 in the same period in 2023.
Restaurants can partner with Swiggy to increase their consumer base by offering online ordering and delivery. To partner with Swiggy, restaurants can:
Go to the Swiggy Partner Registration Page and fill out the registration form.
Provide the following information:
- Restaurant name
- Location
- Owner’s name
- Contact information
- Cuisine type
The Power of References in Swiggy’s Growth Journey
Here are some references for Swiggy restaurants:
Swiggy’s terms and conditions
The terms and conditions for Swiggy include information about product liability, delivery services, and order delivery.
Swiggy’s tiering program
It’s tiering program classifies restaurant outlets into Platinum, Gold, Silver, or Bronze based on consumer experience. The program measures five key metrics: acceptance, edits, cancellations, customer ratings, and GMV.
Swiggy’s founder and CEO
Sriharsha Majety is the founder and CEO of Swiggy. He owns a 6.23% stake in the company.
Swiggy’s co-founder
Lakshmi Nandan Reddy Obul is the co-founder of Swiggy. He owns a 1.62% stake in the company.
Conclusion
Swiggy is an online food ordering and delivery app that operates in over 580 cities across India. It was started in August 2014 and has over 5 million mobile application installations.Swiggy understood the customers on both sides of their platform and curbed multihoming to build an impressive platform in a competitive space. With Zomato (2nd in the market) set to buy out UberEats (3rd in the market) the future of Swiggy may demand much more from the platform that ever before.
FAQS
What are their achievements in Swiggy?
The first acquisition that Swiggy made came in the year 2017 when it acquired Bengaluru-based Asian food startup, 48East. 2) Later that year, Swiggy acquired Mumbai-based Scootsy Logistics – a startup in the field of food and fashion delivery that was struggling to make a mark.
Who is the biggest investor in Swiggy?
The largest shareholder in Swiggy, South African and Dutch technology group Prosus’ stake is valued at nearly Rs 26,507 crore (about $3.14 billion), excluding the Rs 4,166 crore (about $500 million) it secured through the OFS.
What is the new name of Swiggy?
swiggy: Swiggy changes company’s registered name to reflect …
Swiggy Pvt Ltd (formerly Bundl Technologies Pvt Ltd) changed its name for brand proximity. It operates under brands like Instamart, Dine Out, and Genie. it is preparing for a $1 billion IPO and aims to achieve profitability by reducing costs. Zomato is its main rival.
