Page 13 - Swiggy

Swiggy accused of charging Rs 3 extra on orders, company says 'tech bug'

Swiggy had been accused of rounding up the bill total to the nearest whole number and adding Rs 3 to customers' order value

Expecting high demand, QSRs, retail companies expand their workforce

Reliance Retail (RR), the country's largest retailer, added the most number of employees at about 60,000 in FY23

Zomato stock rally may show signs of exhaustion from here on: Analysts

This is because the stock price of Zomato is factoring in all the positives, including earnings growth

Former Swiggy CTO Dale Vaz gets funding for new venture Aaritya Tech

At Aaritya, Vaz is now building a new-age trading platform for individual investors to help them trade and invest

Swiggy sees another high-level exit as senior V-P Anuj Rathi quits

Ashish Lingamneni, vice president (VP), head, brand and product marketing, and Nishad Kenkre, VP, head, revenue and growth, Instamart, have also left the food delivery firm in the recent past

Baron Capital nearly halves Byju's valuation, marks up Swiggy, Pine Labs

Byju's was last valued at $22 billion when it raised $250 million from Qatar Investment Authority in October last year

Swiggy restarts IPO plans, aims for July-Sept 2024 stock market listing

Swiggy in May said its core food delivery business had turned profitable, nine years after starting operations, even as its newer grocery delivery service, Instamart, continues to make losses

'Swiggy's return on investment for tech initiatives pretty massive'

We measure RoI for each of our technology initiatives, depending on various contributing factors such as the design, the product, the technology used, said Rao

Gogoro, Swiggy join hands for adoption of EVs in last-mile delivery

Electric vehicle battery-swapping solutions provider Gogoro Inc on Thursday announced a partnership with Swiggy to promote its electric Smartscooters to last-mile delivery partners of the on-demand convenience delivery platform across India. Gogoro and Swiggy will provide a seamless path for riders to adopt sustainable electric transportation and improve their business efficiency, Gogoro Founder and CEO Horace Luke said. "Partnering with Swiggy, a leading player in the industry, to provide access to Gogoro Smartscooters and battery swapping is essential in successfully transforming India's urban fleets to electric," he added. Swiggy Head of Operations Mihir Shah said, "This partnership with Gogoro is another key step in our commitment to creating greener and cost-effective solutions for our delivery fleet." Shah further said, "Gogoro's battery swapping technology represents a new generation of electric refueling that has proven successful on a mass scale for last-mile delivery, and

Consumer cos implement all-weather strategies amid climate uncertainty

Erratic weather patterns prompt consumer firms to adopt climate-smart approaches, hiring experts and leveraging data to mitigate logistics and demand disruptions caused by extreme weather events

Swiggy enters credit card space, launches co-branded product with HDFC Bank

Card will operate on Mastercard's payment network; rollout in phases on Swiggy app overnext 7-10 days

Swiggy announces 2nd tranche of ESOP liquidity programme for employees

On-demand convenience platform, Swiggy on Monday announced the second tranche of its committed USD 50 million (nearly Rs 410 crore) ESOP liquidity programme for eligible employees. Swiggy had in 2021 committed to a two-year ESOP liquidity programme for 2022 and 2023 and the first tranche of USD 23 million (over Rs 180 crore) was announced in June last year. In a blogpost, Swiggy said it has initiated "the second tranche of its committed ESOP liquidity program totalling USD 50 million". As part of this planned 2-year ESOP liquidity program, Swiggy said, "Employees will have the option to receive liquidity totalling up to USD 50 million against their ESOPs. This event will also see eligible employees from Dineout which Swiggy acquired last year participate." Over 2,000 employees are eligible, including those who transitioned from Dineout, it added. Swiggy Head of HR Girish Menon said the ESOP programme was announced to enable consistent wealth creation for employees "through two ...

Swiggy announces second tranche of ESOP buyback plan totaling $50 mn

Employees who moved from Dineout after Swiggy bought it last year, will also be eligible for the liquidity programme

Swiggy set to buy back Esops worth $50 million from its 2,000 employees

The Esop liquidation exercise was part of Swiggy's announcement in 2021, where the company had said that its employees would be rewarded for their performance in 2022 and 2023

Swiggy builds generative AI-powered search for personalised recommendations

Dubbed neural search, the new AI features will allow users to search for dishes and restaurants using conversational and open-ended queries and receive recommendations tailored to their specific needs

Swiggy forms five-member dedicated team to work on artificial intelligence

The food and grocery delivery firm has already been experimenting with technology by using AI to create images of food products

Swiggy to acquire retail distribution firm LYNK for undisclosed amount

Food and grocery delivery platform Swiggy on Thursday said it has entered into a definitive agreement to acquire LYNK Logistics Limited for an undisclosed amount. The deal paves the way for Swiggy's entry into India's massive retail market with a technology-led distribution platform. LYNK will continue to operate as an independent business post the acquisition led by its co-founder and CEO Shekhar Bhende, Swiggy stated. It enables leading FMCG brands to grow their retail presence through its network of over 1,00,000 retail stores across the top eight cities. "With this acquisition, Swiggy enters India's food and grocery retail market, which is amongst the world's largest and fastest-growing, estimated to be more than USD 570 billion in size and expected to grow at 8 per cent year-on-year," Swiggy noted. Post-acquisition, LYNK will leverage Swiggy's strength in technology and logistics to rapidly scale the existing platform.

Swiggy introduces 'WhatToEat' feature offering customised food choices

Online food delivery platform Swiggy on Tuesday said it has introduced an industry-first 'WhatToEat' feature aiming to simplify the selection process by offering personalised recommendations tailored to users' current moods, location, order history, the time of the day and other preferences. Users can now indicate what they are craving by selecting from a range of mood bubbles on the app, Swiggy stated. The feature will inform users of the rationale behind each recommendation, whether it's based on their order history, local trends, or popularity among other Swiggy users. To streamline the decision-making process, WhatToEat presents users with ten personalised recommendations for each order, cutting through the overwhelming number of choices, the food delivery platform stated.

Zomato keeps its lead over Swiggy, gross merchandise value jumps 26%

In its annual report earlier this week, Prosus - Swiggy's biggest investor with a 33 per cent stake in the company - indicated that Swiggy's losses jumped 80 per cent year-on-year (YoY) between Jan 1-

Zomato is now allowing its users to build multiple carts at one time

The feature, introduced as part of its latest app update, will help users to build carts from up to four restaurants