Swiggy currently values at $3.3billion
Kint.io a startup which specializes in applying deep learning and computer vision
Swiggy’s other acquisitions include Supr Daily, Scootsy, 48east
Swiggy is India’s sprightliest growing food ordering and delivering business in India. The company was started by, BITS-Pilani alumni SriharshaMajety and IIT-Kharagpur alumnus Nandan Reddy and Rahul Jaimini in 2014. After quitting his job at Myntra the ambitious entrepreneur Reddy gave India a complete food ordering and delivery solution and took the market by the storm. Located in Bengaluru, Swiggy established as a startup in August 2014. Started as a team of six delivery staff and dealing with 25 restaurants, Swiggy is now active in 15 plus cities and more than 10,000 restaurants under it.
“When already we decided to shut Bundl, we knew we have to dive into hyperlocal delivery and give it a shot. We also perceive that ordering stags for eatery were very broken. Ordering food has always been a major fuss, thus, we plan to take a jump and resolve it with Swiggy,” Majesty said.
Currently valued at $3.3billion, had earlier this month acquired Kint.io a startup which specializes in applying deep learning and computer vision for object recognition in videos, for an undisclosed amount. Swiggy’s other acquisitions include Supr Daily, Scootsy, 48east.
Swiggy offers food delivery service corporate acts like user portal and locates places for restaurants and dining locations and also provides special food items. Swiggy works as online support help for restaurants and hotels to expand their business and generate more revenue through brand building. It operates in major cities in India such as Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Kolkata, Pune and others.
The E-Commerce online food delivery service became popular by providing restaurants businesses with an online platform, through the online site and mobile application. As customers are provided services, Swiggy has controlled the strategy and doing the marketing online provides them to reach several food lovers. With the help of digital marketing, the firm can reach the right audience. The company does video advertisements with the help of social media marketing for branding and targeting audience. Online marketing can help any business can generate more sales and build a strong audience base.
“Swiggy’s goal is to transfigure the food delivery market in India by delivering a cheap, fast and systematic substitute to taxing the already small crew restaurateurs. There are various occurring and even more upcoming food-ordering stages in the nation, Nonetheless, Swiggy sets itself distant from the opponents by having their delivery squadron, thereby reducing the uncertainty in delivering an order.”
Experts tracking the space said that Swiggy is looking to be a horizontal platform and is branching out into other categories apart from food. It recently launched on-demand product deliveries with its newest offering Swiggy Stores. The service is currently being piloted in Gurugram, wherein the company claims to offer products from more than 3,500 stores including 200 prominent brands. The move is expected to boost Swiggy’s delivery volume which currently stands at 28 million orders per month across only the food delivery segment.
Bangalore-based company Swiggy is a food delivery giant, it has been on a spree since 2018. By joining Unicorn Club, Billion dollar funding, and new partnerships and products expansions. Swiggy has recently announced its debut in hyperlocal service market of groceries and household goods, Swiggy stores. Now, they are seen putting their hands into the ready-to-cook market as well.
Even after facing a firm competition from Zomato, Foodpanda, Uber Eats, JustEat; Swiggy introduced a new service ‘Swiggy Stores’ which will be accessible on the same app and will allow users to order things like groceries, medicines, vegetables, Kirana, meat, and other stuff.
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