Tag: swiggy

Swiggy IPO: A ‘confidential’ filing is already on SEBI’s table

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian food and grocery delivery giant Swiggy filed for its much-awaited initial public offering (IPO) through the confidential route more than two weeks ago.

Norwest Venture, one of the investors in Swiggy, confirmed the filing in an interview with CNBC-TV18.

The Bengaluru-based startup has the shareholder approval to raise ₹10,414 crore ($1.2 billion), of which shares worth ₹3,750 crore will be fresh issue and the remaining ₹6,664 crore will be stake sale by existing investors.

The ten-year-old startup is now awaiting the approval from the market regulator i.e. the Securities and Exchange Board of India (SEBI).

🚨 @Swiggy files its #IPO papers with Sebi via confidential route. The move took place two weeks ago, sources confirmed to @CNBCTV18News. #Swiggy in April received the approval from shareholders for a $1.2Bn IPO, according RoC filings. pic.twitter.com/aB6MO6mJJn

— Young Turks (@CNBCYoungTurks) May 15, 2024

Swiggy’s last reported valuation was $12.7 billion in April 2024. ” It is an anticipated IPO, and it’s a household name. I am waiting for this blockbuster to come out,” Niren Shah, Managing Director and India Head at Norwest Venture Partners, told CNBC-TV18.

You can watch the interview here:

Sriharsha Majety, Nandan Reddy and Rahul Jaimini, who started Swiggy on August 1, 2014, hold 4%, 1.6% and 1.2% stake, respectively, according to data from Tracxn. It took nearly a decade years for the company’s first venture, the food delivery unit, to turn profitable.

The decacorn reported ₹8,265 crore in revenue in FY23. More than 82% of the revenue came from food delivery and the remaining from the quick commerce venture called Instamart.

These are some of Swiggy’s biggest shareholders: 

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Mother’s Day celebrations boost quick commerce sales across India

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Consumer purchases across quick commerce platforms witness an uptick led by Mother’s Day celebrations across India.

Recent data from quick commerce platforms like Zomato, Swiggy Instamart, Blinkit, and Zepto reveal trends in consumer behaviour, highlighting an increased demand for a variety of products on Sunday, May 12. Analysis from both platforms shows that items like jewellery, plants, flowers, and chocolates are experiencing peak orders.

Zomato reports that for the first time, Mother’s Day is witnessing significantly higher sales volumes than New Year’s Eve. Over 2 lakh people have used Zomato’s new AI feature, which allows customers to add a personalised celebrity video message to their orders, since its launch.

As per Swiggy Instamart’s data, 143 chocolates and 41 cards are being sold per minute today. The platform witnessed a 141% surge in orders for handbags, perfumes, and watches marking a new record for single-day orders. Not just that, orders for jewellery have also gone up 11.4 times from last week.

Sales of plants as gifts have soared 7.7 times as compared to a regular Sunday.

Additionally, Zomato-owned quick commerce platform Blinkit shared that handbag sales have seen an uptick compared to usual days. The company has also sent free fridge magnets specially designed for Mother’s Day.

“The company has never sold so many smartwatches by 11 am,” said Albinder Dhindsa, CEO of Blinkit. Bouquet sales have also been up as compared to Valentine’s Day.

Jewellery and perfume sales have zoomed in as well. Zepto has also launched Mother’s Day special greetings and customers seem to enjoy it.

These trends suggest a pattern where consumers turn to quick delivery services to purchase thoughtful, last-minute gifts. These insights are crucial for these platforms in tailoring their inventory and marketing strategies, ensuring product availability during high-demand periods.

Also Read: Mother’s Day 2024: Handwritten letter to personalised jewellery, gifts to express gratitude

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Akshaya Tritiya 2024: How to get gold and silver coins in 10 minutes?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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As the auspicious occasion of Akshaya Tritiya approaches, quick commerce platforms are gearing up to provide customers with a seamless experience of acquiring gold and silver coins within 10 minutes. bigbasket, Swiggy Instamart, Zepto and Blinkit have all announced partnerships with brands to facilitate the swift delivery of precious metals to customers across India.

bigbasket has forged partnerships with Tanishq and MMTC-PAMP to offer its customers the opportunity to purchase gold and silver coins and bars, all delivered within 10-minute window through the bigbasket Now platform.

bigbasketeers across different cities in India can choose from a selection of offerings including the MMTC-PAMP Lakshmi Ganesh silver coin (10 g), MMTC-PAMP Banyan Tree® silver bar (10 g), Tanishq 22 karat gold coin (1 g), and Tanishq 22 karat gold coin with Lakshmi motif (1 g).

MMTC-PAMP is a joint venture between MMTC, a Government of India undertaking, and PAMP SA of Switzerland. It is India’s first and only LBMA accredited gold and silver refinery and is recognised globally for its high standards in precious metal refining.

The company operates the largest BIS-certified refinery for gold and silver in India, with an installed refining capacity of 300 tonnes of gold and 600 tonnes of silver per year.

On the other hand, Swiggy Instamart has joined the Akshaya Tritiya festivities by partnering with Malabar Gold & Diamonds and Muthoot Exim (Muthoot Pappachan Group) to deliver silver and gold coins to customers on May 10.

Similarly, Zepto has announced its collaboration with Nek Jewellery for the same purpose.

On platform X, Blinkit’s CEO Albinder Dhindsa also said that one can get gold and silver coins via the platform in 10 minutes.

Additionally, PhonePe has announced cashback of up to ₹2000 on a minimum order value of ₹1000 on its app. The is applicable only on one-time purchase of 24k digital gold.

It has also announced a special offer for redemption of digital gold at Caratlane stores till May 12.

Purchasing gold on Akshaya Tritiya is a deeply-rooted in tradition, believed to bring lasting wealth and prosperity.

The Sanskrit word ‘akshaya’ means ‘never diminishing,’ and the day is believed to bring good luck and success.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Swiggy revives homestyle food ordering service Daily to take on Zomato Everyday

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Nearly four years after shutting down Daily, a homestyle food service, Swiggy has restarted the service in select areas, Moneycontrol has learnt. Introduced first in 2019, Swiggy shut down Daily after demand dipped during Covid-induced lockdowns.

Since Swiggy Daily was primarily used by office-goers, the company had pulled the plug on the service as a majority of its user base was working from home during the lockdown. But now, as most people have returned to working from the office for several days a week, the startup wants to revive the offering and tap into the market currently dominated by Zomato Everyday.

Zomato Everyday was first piloted in select areas of Gurugram in February last year. Since then, the service has expanded to multiple cities across locations, underscoring that demand for affordable, homestyle food still exists. Both Swiggy and Zomato offer meals between Rs 89 and 150 under this category.

For IPO-bound Swiggy, currently on a clean up spree and consolidating several divisions into one, reviving an old offering is a rare move. However, unlike the first iteration, Swiggy Daily is now integrated into the main app.

“Swiggy has matured more as a company since 2020, in terms of supply chain, cost efficiencies and thinks Daily is a promising category to be present in – the conviction is high. It is targeting people living as paying guests (PGs), hostels and regular office goers through Daily,” a person aware of the developments told Moneycontrol.

Swiggy did not respond to Moneycontrol’s queries.

The homestyle food market is largely unregulated with dabbawallas and small caterers meeting demand. Swiggy, which takes credit in first starting the service back in 2019, now hopes to pull customers away from Zomato.

Through Daily, Swiggy wants newer customers come on to the app and try its services. It anticipates that these customers will stick to the platform and continue transacting across categories after that, which will push up its market share.

Swiggy, which is hoping to make a public market debut later this year, needs to increase its base of users. Swiggy currently has a total of 14-16 million users as opposed to Zomato’s 18.6 million monthly transacting users, analysts at Bernstein said in a client note last month.

The report pegged Swiggy’s food gross merchandise value (GMV) at $1.4 billion lagging Zomato’s $1.7 billion as of 1HCY23.

Road to Dalal Street

Swiggy filed its draft IPO papers with the Securities and Exchange Board of India (SEBI) last month, as first reported by Moneycontrol. The company plans to raise up to Rs 3,750 crore (around $450 million) through a fresh issue and up to Rs 6,664 crore (around $800 million) as an offer-for-sale (OFS) component, as reported earlier.

In the run up to the IPO, Swiggy recorded a $207 million loss in the nine months to December 2023. That loss was on a revenue of $1.02 billion during the same period, compared with fiscal year 2022-23 revenue of $1.05 billion.

Swiggy saw its revenue rise 45 percent to Rs 8,625 crore in FY23, while its net loss widened to Rs 4,179 crore, according to the company’s annual filings. In FY22, the hyperlocal commerce unicorn had registered a revenue of Rs 5,705 crore and a net loss of Rs 3,629 crore.

For comparison, arch-rival Zomato’s revenue had risen 66 percent to Rs 7,761 crore in FY23, while net loss narrowed to Rs 971 crore.

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Expect a ‘blockbuster IPO from Swiggy’ says investor Niren Shah of Norwest Venture Partners

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Norwest Venture Partners’ Niren Shah who invested in online food delivery platform Swiggy at an early stage expects a blockbuster initial public offering (IPO) from Swiggy. Shah spoke to CNBC-TV18’s Big Deal on Swiggy and other portfolio company IPOs.

Niren Shah, MD & India Head at Norwest Venture Partners said, “The company (Swiggy) has scaled very nicely over time. They were pioneers 2014 in the food delivery business. They were pioneers of the sort of grocery called Swiggy Instamart in 2020. It’s been an exceptional relationship for us with a company like Swiggy. It is an anticipated IPO, and it’s a household name. I am waiting for this blockbuster to come out.”

Discussing Norwest Venture Partners’ investment strategy, Shah mentioned their recent raising of a $3 billion fund, called Fund 17. The focus of this fund, according to Shah, is on growth equity and late-stage venture investments

Talking about India, Shah said, “We have raised a $3 billion fund recently Fund 17, and part of our strategy right now is to focus much more on growth equity and late-stage venture. We typically invest approximately $250 to $300 million every year, which we plan to continue for a while.”

Read Here | Swiggy receives shareholders’ green signal for a $1.2 billion IPO

The aim is to support the growth of promising companies, helping them to reach the IPO stage within approximately five years.

He added, “Our entire focus is to build great companies, which can go IPO in India, in about five years or so. That’s the kind of the focus and it is across sectors, it’s multi-stage, it’s multi-asset. We’ll do some venture capital and we will do a lot of growth equity as well.”

Shah explained that Norwest Venture Partners will invest significant amounts, ranging from $20 to $100 million, in various companies across different sectors.

For the entire discussion, watch the accompanying video

Also Read | Here’s what the Swiggy CEO has to say about IPO plans

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Swiggy receives shareholders’ green signal for a $1.2 billion IPO

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Swiggy has received the approval from shareholders for a $1.2-billion initial public offering (IPO), according registrar of companies (RoC) filings. The foodtech player is looking to raise up to ₹3,750 crore through a fresh issue and up to ₹6,664 crore as an offer-for-sale (OFS) component, the filings showed.

The firm is also planning to raise around ₹750 crore from anchor investors ahead of its IPO. In an exclusive conversation with CNBC-TV18 on the sidelines of the Davos World Economic Forum (WEF) 2024, Swiggy Group CEO Sriharsha Majety had said an IPO is an aspiration and the company is preparing for it.

“The last two years, we have had so many great companies go out the door and we have been learning from their experiences and understanding what the market thinks of startups,” Majety noted.

Swiggy has not responded to CNBC-TV18’s queries.

A report by Entrackr had earlier said that Swiggy will file papers for its IPO by May and ultimately list around the festive season. The firm will seek valuation in the range of $12-15 billion. The report further added that IPO-bound Swiggy is reaching out to high-net-worth individuals (HNIs) to buy its shares at a 20% discount on its current valuation.

Swiggy’s investor Prosus, which owns around 32% in Swiggy, will be seen selling shares in the company as it will aim to reduce its shareholding to below 25%, Moneycontrol reported quoting data from Tracxn. SoftBank (8%), Accel (6.2%), founder group (6.7%), Elevation Capital (4.4%), Norwest, Tencent, DST Global, Alpha Wave, are some of the other investors in the company, the report showed further.

In the beginning of March, Baron Capital, a US-based fund manager, revised the value of its stake in Swiggy to $87.2 million, indicating a valuation of $12.16 billion for the hyperlocal commerce unicorn as it gears up for its upcoming IPO.

Earlier this year, Invesco, a US-based asset management company (AMC), too increased Swiggy’s valuation to $8.3 billion. In October 2023, Invesco had marked up the foodtech platform’s valuation by about 42% to about $7.85 billion.

The company’s cofounders Sriharsha Majety, Nandan Reddy and Rahul Jaimini hold 4%, 1.6% and 1.2% stake, respectively, as per Tracxn. Jaimini left his operational role in 2020 to join another venture–Pesto Tech. In EGM held on April 23, Majety and Reddy were appointed executive directors of the company. Majety was designated as managing director and group CEO, while Reddy was named whole-time director and head of innovation.

Swiggy’s food delivery business had turned profitable last year, and in 2024, Majety had told CNBC-TV18 at WEF that the focus will be on growing profitably and getting better. He pointed out that Swiggy is still at the very early stage, learning what works for consumers. “Just because you can put a category doesn’t mean the consumers want it. All of us in this space are iterating, learning from each other, learning from consumers,” he said.

Now ahead of the potential run to Dalal Street, Swiggy is trying to improve its unit economics. As per an Entrackr report, the company seems to be achieving a steady 25-30% year-on-year growth in FY24. During the first nine months of FY24, Swiggy’s revenue from operations was ₹5,476 crore, according to a document drafted by an investment banker on behalf of Swiggy, which was seen by Entrackr.

The decacorn reported ₹8,265 crore in revenue in FY23 and a collection of ₹6,623 crore in the last fiscal year. The food delivery business constituted 82.65% of the total operating revenue, amounting to ₹4,526 crore. The remaining income came from Swiggy Instamart, the firm’s quick commerce vertical, the document showed.

The company’s key focus is on turning profitable and for that it has improved its EBITDA margins which registered at -1.9% and -109.5% for the food delivery biz and Instamart, respectively during the nine-month period, compared to -17.5% and -259% in FY23, as per the report.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Srartup Digest: Dhruva Space bags ₹78 cr from IAN Alpha Fund, Nat Habit crosses ₹100 crore ARR in FY24 & more

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Investors Vs Byju’s: NCLT defers hearing to June 6

No relief for beleaguered edtech Byju’s as National Company Law Tribunal has deferred the rights case issue to June 6. NCLT is hearing a plea filed by four investors regarding oppression and mismanagement at Byju’s.

The investors have alleged during the hearing that Byju’s had not deposited the money it received from rights issue prior to February 27 in the escrow account.

In its order on February 27, NCLT directed Byju’s not to allot shares to investors participating in the rights issue without increasing its authorised share capital. The company was also asked to keep the proceeds of the rights issue in an escrow account to protect investors’ rights.

Sources at BYJU’S had informed CNBC-TV18 on April 22 that the company planned to request the release of the funds received from the rights issue, which are currently held in an escrow account, to be able to clear its salary and other obligations. 

Dhruva Space bags ₹78 cr in Series A2 round led by IAN Alpha Fund

Spacetech startup Dhruva Space has raised ₹78 crore in its Series A2 funding round led by IAN Alpha Fund, with participation from existing investors. With this, the company has brought its Series A corpus to ₹123 crore.

The fresh capital will enable the company to establish spacecraft manufacturing and testing capabilities, and launch customer missions with the larger satellite buses, namely P-30 and P-90. Dhruva Space said it is setting up the first phase (1.2 lakh square-foot) of their 2.8 lakh-square-foot world-class spacecraft manufacturing facility in Hyderabad to invest in continued innovation upon the existing product line to go to the global market.

Dhruva Space has launched eight payloads in the last 2 years, including the Thybolt satellite mission in November 2022 and the LEAP-TD mission on January 1, 2024. Building on this, the coming years will see several customer launches with the company’s P-30 nanosatellite platform and P-90 microsatellite platform.

Nabhdrishti Aerospace raises ₹3 crore in Pre-Seed round

Deeptech startup Nabhdrishti Aerospace has raised ₹3 crore in a pre-seed funding round led by IIMA Ventures (formerly IIMA-CIIE).

Founded in 2023, the startup will design and develop gas turbine engines, beginning with a 350 SHP turbo-prop engine for aviation and power generation use cases. The micro gas turbine (MGT) engines will be indigenously developed and manufactured and will feature fuel flexibility to enable clean fuel compatibility and enhanced efficiency.

The fresh funds will be used to aid the development of a fuel flex combustor prototype via thorough testing on the fuel injector and combustor, enabling the company to showcase the proprietary fuel flex technology.

Flipkart Ventures to fund GenAI-based early stage startups

Flipkart Ventures, the investment arm of e-commerce major Flipkart, has invited applications for its accelerator programme. As part of the Flipkart Leap Ahead (FLA) programme, selected startups will receive equity investments between $200,000 and $500,000, according to a statement.

Announcing the third cohort of FLA, the firm said the programme aims to accelerate the growth journey of early-stage startups. Applications for the programme will be open from April 22 to May 26.

It added that these startups will also receive two-month mentorship, wherein industry veterans, operators, and founders will guide these entrepreneurs to prepare them for hyper-growth.

Nat Habit surpasses ₹100 crore ARR in FY24; aims to be EBITDA profitable in 18 months

D2C natural beauty and personal care brand Nat Habit has announced that it has crossed ₹100 crore-mark in terms of its annualised revenues in FY24. The brand also aims to become EBITDA profitable over the next 17–18 months.

According to the startup, about 55% of its revenue comes from its own D2C site and the balance comes from e-commerce marketplaces. Nat Habit said it is witnessing 30% of its business come from smaller cities and tier-2 markets.

Since the Series B funding of $10.2 million in December 2023, Nat Habit said it had further accelerated its expansion and innovation efforts. “We are poised for an exciting future with investments in R&D, robust in-house tech capabilities and commitment to optimise our supply chain to handle current and new product offerings,” said Gaurav Agarwal, Co-founder of Nat Habit.

BharatPe launches an all-in-one payment device

Fintech company BharatPe has launched an all-in-one payment product that incorporates POS (point of sale), QR, and speaker into a single device.

Called BharatPe One, the product is designed to streamline transactions for merchants, offering versatile payment acceptance options including dynamic and static QR code, tap-and-pay and traditional card payment options.

The company plans to launch the product in over 100 cities in the first phase and further scale it to more than 450 cities over the next six months.

Razorpay announces ‘UPI Switch’ in partnership with Airtel Payments Bank

Fintech company Razorpay has launched its own UPI infrastructure with ‘UPI Switch’, a cloud-based innovation in partnership with Airtel Payments Bank, and said the solution is geared to ensure smoother and faster transactions.

Boosting success rates by 4-5%, the solution is designed to handle up to 10,000 transactions per second (TPS) at any given time, according to a release.

The ‘UPI Switch’ will also enable 5 times faster access to UPI (Unified Payments Interface) innovations for businesses, it added.

Swiggy launches Smart Links to boost orders for restaurants with a digital presence

Food delivery platform Swiggy, has announced the launch of ‘Smart Links’, a tool designed to empower restaurants of all sizes to enhance their online presence and drive growth.

This new tool helps restaurants convert social media footfall to business with just one click. Smart Links has already driven over 4 million menu sessions for over 35,000 restaurant partners, Swiggy said in a statement.

“Smart Links, which Swiggy is customizing for free for all restaurant partners, will be a game-changer by giving restaurants the power to easily access and customize these links. This allows them to measure individual channel performance and compare all in the owner app, thereby promoting themselves effectively, driving actual orders, and gaining a better understanding of their customers as well as spend on online platforms and social media,” said Deepak Maloo, AVP – Supply, Swiggy.

WeWork India adds two new buildings

Flexible workspace provider WeWork India has announced the expansion of their operations in the country by signing lease agreements for two new buildings.

Set to open in the next couple of months, the new buildings — HQ27 in Gurugram and Amanora Crest in Pune — are located in key business hubs and will redefine the workspace experience for professionals and enterprises alike, the company said.

The two buildings will add over 3,100 desks, spread across over 1,83,000 square feet of space to the existing portfolio.

Global Technology & Startup News

Microsoft introduces smaller AI model

Microsoft has announced a cost-effective, small language artificial intelligence model that can perform tasks such as content creation and create social media posts while using smaller amounts of data.

The company introduced an AI model called Phi-3-mini, which can outperform models twice its size across a variety of benchmarks that evaluate language, coding and math capabilities, it said in a statement.

Smaller AI models are designed to perform simpler tasks, making it easier for use by companies with limited resources, Microsoft said.

Adobe to bring full AI image generation to Photoshop this year

Adobe plans to place a tool for full artificial intelligence image generation in its Photoshop software later this year.

Adobe’s image and video editing tools are widely used by creative professionals, but it faces rising competition from startups such as Microsoft-backed OpenAI, Midjourney and Stability AI, all of which offer services that can generate images from text prompts.

Adobe is developing its own image-generation AI system called Firefly, which is trained on data that Adobe has rights to, in order to avoid copyright infringement claims against users.

Meta opens Quest operating system to third-party device makers

Meta is sharing its Quest headset’s operating system with rival device makers, including Microsoft for the first time, as it works to extend its influence over the emerging virtual and mixed reality industry.

The move will allow partner companies to build their headsets using Meta Horizon OS, a rebranded operating system that brings capabilities like gesture recognition, passthrough, scene understanding and spatial anchors to the devices that run on it, the company said in a blog post.

The social media company said partners Asus and Lenovo would use the operating system to build devices tailored for particular activities. Meta is also using it to make a limited edition version of the Quest headset “inspired by” Microsoft’s Xbox gaming console, according to the company’s statement.

Amazon launches low-cost grocery delivery subscription plan in US

Ecommerce giant Amazon, has launched a new grocery delivery subscription in the United States for members of its Prime program and customers who are recipients of the government food assistance benefits.

The subscription plan would allow Amazon’s Prime members to get unlimited grocery delivery at $9.99 per month on orders over $35 from Whole Foods Market, Amazon Fresh, and other local grocery and specialty retailers on the platform, including Save Mart, Bartell Drugs, Rite Aid and Pet Food Express.

The service will be available in over 3,500 cities and towns across the country.

Injury rates for Musk’s SpaceX exceed industry average for second year: Report

Injury rates at SpaceX facilities continued to exceed an industry average in 2023, according to a Reuters review of safety data reported to U.S. regulators by the space venture controlled by billionaire Elon Musk.

The 2023 records, newly disclosed by the Occupational Safety and Health Administration, also show that injury rates at some SpaceX facilities grew worse than those the company had reported in 2022.

At its manufacturing-and-launch facility in Brownsville, Texas, for instance, SpaceX reported 5.9 injuries per 100 workers, surpassing its rate of 4.8 injuries in 2022 and topping a space industry average of 0.8.

Spotify’s monthly user numbers miss estimates on lower promotions

Spotify has reported quarterly monthly active users (MAU) below its own estimates, as the Swedish music streaming company chose to boost profit instead of spending more on marketing activities to draw in more listeners.

First-quarter MAUs rose 19%, but missed Spotify’s own guidance and a median of analysts’ forecasts of 618 million. It also forecast current-quarter MAUs at 631 million, missing estimates of 636.3 million, according to IBES data from LSEG.

Premium subscribers, who account for most of the company’s revenue, rose by 14% to 239 million, in line with estimates. Spotify has been cutting costs, including through layoffs and its marketing budget, as it looks to increase margins and profits.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Swiggy integrates Instamart with Mall to deliver a wider selection of products

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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On-demand convenience delivery platform, Swiggy, on Thursday (April 18), announced the integration of Swiggy Mall, with its popular quick commerce platform Swiggy Instamart.

According to the company, Swiggy Mall, which initially ventured into online retail, catering to a diverse range of home and family needs, has garnered significant traction in select areas of Bengaluru. It offers an array of categories spanning sports goods, footwear, clothing, electronics, appliances, toys, and stationery.

Phani Kishan, Head of Swiggy Instamart, expressed the company’s commitment to providing convenience to users. “With our latest update, customers can now explore an extensive selection across over 35 categories, that go way beyond groceries and home essentials, delivered in minutes. This marks a significant milestone in our journey towards providing unparalleled convenience, ensuring our users have everything they need at their fingertips, faster than ever before,” he said.

Swiggy added that consumers will now have access to a plethora of renowned brands such as HP, Croma, Realme, Liberty Footwear, Puma, Enamor, La Opala, and an assortment of products, including keyboards, headphones, vacuum cleaners, coolers, cookers, idli makers, dinner and crockery sets, AC blankets, shoulder bags, wallets, and more.

Swiggy’s expansion plans include scaling up Swiggy Mall’s operations across multiple cities, starting with Bengaluru.

Also Read: Swiggy partners with Park+ for doorstep delivery of IndusInd FASTag in under 10 minutes

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Lost your pet? Here’s how Swiggy’s ‘Pawlice’ feature can help

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Swiggy, the popular food delivery platform, on Friday, April 12, rolled out a new feature on its app aimed at aiding pet owners in finding their missing pets. The feature, named “Swiggy Pawlice,” allows users to report a lost pet directly through the Swiggy app.

This comes a day after the National Pet Day, on April 11, when the food- delivery platform launched the Swiggy Paw-ternity Policy for its employees under which all full-time staffers who are or want to become pet parents will be able to avail of a few additional leaves.

Rohit Kapoor, CEO of Swiggy Food Marketplace said, “As a pet parent myself, I understand firsthand the worry and anguish that accompanies the thought of a pet going missing. While I sincerely hope that such a distressing event never occurs to any fellow pet parent, if it does, Swiggy Pawlice stands ready to be a dependable resource to assist them.”

How does the feature work?

According to Swiggy, the pet parents can report their missing pets directly through the Swiggy app, providing all necessary details and pictures.

The “Swiggy Pawlice” feature utilises Swiggy’s extensive network of over 3.5 lakh delivery partners, who can assist in search efforts while out on deliveries. If a delivery partner spots a missing pet, they can report it to a dedicated team at Swiggy, who will then share the information with the pet owner.

“Swiggy acknowledges the importance of every reunion and celebrates the efforts of delivery partners who go above and beyond to reunite pets with their parents. These partners receive rewards as tokens of appreciation,” Swiggy said.

“For a business like Swiggy to lead by example and take responsibility is exactly what we need to see in today’s world,” Shantanu Naidu, General Manager, Tata Trusts, House of the Chairman said.

“We want the services we rely on daily to demonstrate empathy and mindfulness towards the world around us. With initiatives like the Tata Animal Hospital offering subsidized and free treatment for strays in need of lifesaving critical care, the ecosystem is now in place. All that’s left for us to do is to participate in animal welfare efforts and be a part of creating a better world for all beings,” Naidu added.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow