Swiggy

Quick commerce is making fast inroads in India

Even as quick commerce is slowly fading in many markets and several heavily funded startups have folded shop in the past two years, India is emerging as a striking outlier where the model — of d

Baron boosts Swiggy valuation to $12.16B, above prior private market value

Baron Capital, an investor in Indian food delivery startup Swiggy, has increased the value of its stake in the Indian firm, implying a valuation of $12.16 billion, surpassing the $10.7 billion post-mo

India’s Swiggy to cut another 400 jobs amid IPO push

Indian food delivery startup Swiggy is cutting about 400 jobs, or nearly 7% of its workforce, as the startup seeks to bring further improvements to its finances ahead of a planned IPO later this year.

Invesco raises Swiggy’s valuation to nearly $8 billion

Conditions appear to be shifting favorably for India’s Swiggy. The food delivery startup — backed by SoftBank, Prosus and Accel — saw its paper valuation slashed by more than half th

Zepto becomes India’s first 2023 unicorn with $200 million fresh funding

Instant grocery delivery startup Zepto has raised $200 million in a new funding round at a valuation of $1.4 billion, it said Friday, at a time when most other firms in the category have either died o

India’s food delivery giant Swiggy launches credit card

Swiggy has become the latest Indian startup to offer its customers a credit card as the food delivery giant broadens its efforts to drive engagement and retention. The Bengaluru-headquartered startup

Indian food delivery giant Swiggy acquires LYNK in retail distribution push

Swiggy has entered into a definitive agreement to acquire LYNK, a retail logistics startup with a network of over 100,000 stores, the latest in a series of purchases by the Indian food delivery giant

Swiggy’s food delivery business reaches profitability

India’s Swiggy said on Thursday that its marquee food delivery business has become profitable, eclipsing its publicly listed rival Zomato on another key metric a day before the firm is set to re

Vanguard trims Indian ride-hailing giant Ola’s valuation by 35%

Ola, an Indian ride-hailing startup, has seen its valuation trimmed by its backer Vanguard amid a weakening global economy that has significantly impacted market capitalizations across numerous public

Zomato shares plunge after Invesco cut rival Swiggy’s valuation

Shares of Indian food delivery firm Zomato ended session on Tuesday at a decline of 6%, hours after it became known that Invesco had cut the valuation of its rival Swiggy. Shares of Zomato ended Tuesd

Shrinking unicorns and the embarrassment of meme coins

Hello and welcome back to Equity, the podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Our Monday show covers the latest in tech news from the week

Invesco cuts Swiggy valuation by half to $5.5 billion

Invesco, which led Swiggy’s previous round, has marked down the Indian food delivery giant’s valuation in its holding to about $5.5 billion, according to a filing. This revised valuation,

US investors slash Byju’s and Swiggy valuation

Byju's and Swiggy, among the biggest Indian startups, are taking a haircut in their valuations — at least in the eyes of their backers.

Reliance-backed Dunzo nears fresh funding of $50 million

Reliance Retail and Google, two existing backers of Dunzo, are among those holding discussions to invest in the new round, sources said.

India’s gig economy drivers face bust in the country’s digital boom

Suneeta Kohli, a female Uber driver in New Delhi, had her account suddenly disabled one evening while she was en route to pick up a rider in a southern part of the capital city. “I was reaching

Indian food delivery giant Swiggy to cut 380 jobs

Swiggy plans to lay off 380 jobs and shut down its meat marketplace as the Prosus Venture and SoftBank-backed Indian food delivery giant looks to navigate the market downturn that has forced firms to

Uber and Amazon blasted for poor working conditions for gig workers in India

Research firm Fairwork India blasted Ola, Uber, Dunzo, PharmEasy and Amazon Flex in a report Tuesday, saying the firms scored zero in its assessment of whether they created fair conditions for their g

Amazon to shut down food delivery business in India

Amazon will shut down its food delivery business in India by the end of the year, the retailer said Friday, retreating from a $20 billion vertical it entered less than three years ago. The retailer wi

Uber exits Zomato investment for over $390 million

Uber’s ride with Zomato has concluded. The ride-hailing firm sold its 7.8% stake in the lossmaking food delivery firm on Wednesday for over $390 million, a person familiar with the matter said, beco

Zomato drops to all-time low as lock-in period ends

Updated at 4.15 PM on July 26: Shares of Zomato dropped to as low as 41.25 Indian rupees (52 cents), wiping the company’s market cap to $4.11 billion. Shares of Zomato dropped as much as 14.3% o
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