Swiggy
Swiggy Journey
Swiggy's Founder and History
Swiggy is an Foodtech Unicorn of India, founded in the month of August, 2014 by a group of three co-founders.
Its co-founders includes Nandan Reddy, Sriharsha Majety, Rahul Jaimini.
This has its headquarter located at Bangalore, Karnataka, India.
It also a result of the three peoples minds who become motivated from Zomato.
Their was some loop hole in the services of Zomato which is that it was only available in few cities in that time and also the delivery of Zomato was not that much good in that time.
So the team or founders Swiggy see it as a problem and started their own platforms as a food delivery network and become successful in very sort time of period.
According to Wikipedia it currently operating its services around 500+ cities all over the India.
It's a platform where a hotel or restaurant can do partnership and can offer food delivery online.
The working procedure of Swiggy and Zomato is approximately same. It also known as a one of largest competitor of Zomato.
Swiggy Unicorn Status
If we discuss here that when Swiggy become a Unicorn?, Then the answer of this question is after 4 years of its foundation in the month of June, 2018.
At the time when it become a part of Indian unicorns list its entry valuation recorded approx. 1.4 billion dollars.
Swiggy's Investors
Accel, Elevation Capital, Norwest, Naspers, Tencent, Invesco are known as key investors of Swiggy.
No doubt that their are multiple other investors invested in Swiggy's, but the peoples or companies or ventures who highly invested on Swiggy are the names listed above.
It also achieve a valuation of 10.7 billions dollars after the last round of funding by investors.
Multiple factors are their which become key reasons to make Swiggy a Unicorn or India.
Some of them are like masterminds behind foundation, proper applicability of information technology in the platform.
Other factors includes proper funding, choose those cities for offering services which actually required such kinds of services and so on.
Swiggy Launches $65M ESOP Liquidity Programme Ahead of IPO
Recently launches of Swiggy fifth ESOP liquidity programme worth $65M mark a significant impact in its jornery. This initiative, worth $65 million, aims to provide significant financial benefits to its employees. Empowering Employees with ESOP Liquidity Swiggy’s latest ESOP (Employee Stock Ownership Plan) liquidity programme is designed to allow employees across all levels and functions […]
Swiggy Instamart to Maintain Focus on Household Essentials
Recently Phani Kishan Addepalli, reported that Swiggy Instamart will maintain its focus on household consumption products. This declaration reassures users that Instamart’s dedication to providing immediate-use household items remains steadfast. Commitment to Household Consumption Addepalli underscores the mission of Swiggy Instamart again in the India Healthy Snacking Summit which was organized by Farmley in Delhi. […]
Swiggy Launches Eatlists Feature: Enhancing Food Sharing
Recently Swiggy launches an exciting eatlists feature for its users to gearing up for its Initial Public Offering. Eatlists features will allow users to share their wishes directly within the Swiggy Application. This move aims to enhance user engagement and satisfaction by making food discovery more social and personalized. Introducing Eatlists: A Social Food Sharing […]
Swiggy Tests UPI Plug-In with Yes Bank and Juspay for Better UX
Recently Swiggy comes in highlights due to its significant move of tests UPI plug-in with Yes Bank and Juspay. With this initiative Swiggy aims to enhance and improve consumer experience by easy payment process. The company is partnering with Yes Bank and Juspay to beta test this new feature. Beta Testing the UPI Plug-In Swiggy […]
Flipkart Stake Purchase Talks With Swiggy Denied by Startup
Recently in the tech industry, a report surfaced stating that Flipkart held discussions with Swiggy regarding a potential stake purchase. However, Swiggy has denied these claims. This article delves into the details of this report, the involved parties, and the current state of these discussions. Report on Flipkart and Swiggy Talks According to a report […]
Swiggy Stellar 2023 Performance and IPO Readiness: Highlights
The Swiggy Stellar 2023 Performance is notable and shows a remarkable growth across various metrics. It underlining its robust operational strategies and market leadership in the competitive landscape. According to Prosus, a major investor in Swiggy, the company’s financial results for the year were exceptionally strong, setting the stage for its highly anticipated initial public […]