About Swiggy

 

Sriharsha Majety is the Managing Director and the Group CEO of Swiggy and Nandan Reddy is the Whole-time Director and Head of Innovation of the company. Both of them are the founders of Swiggy. The company is headquartered in Bengaluru, Karnataka.  

 

Swiggy is a modern company that focuses on providing customers with a convenient way to order food and other services through its app. It was a leader in India’s food delivery and quick commerce markets, launching its services in 2014 and 2020, respectively. Through its innovative approach, Swiggy has established itself as a leading player in both industries. Swiggy’s early start has made it a well-known and respected leader in the local commerce industry. 

 

Swiggy raised $1.25 billion in 2021, one of the largest investments in an Indian startup.

 

FY24 Performance

 

Swiggy’s revenue grew by 36% in FY24, reaching ₹11,247 crore. The company also managed to cut its losses by 44%, bringing them down to ₹2,350 crore. To maintain smooth operations, Swiggy employs over 5,000 people and has a large team of 200,000 delivery executives. 

 

Swiggy’s Businesses

 

Swiggy Food- Their food delivery service enables users to easily find and order meals from a wide selection of restaurants. Customers can browse menus, place orders, and make payments online. The partnered restaurants prepare the food, which is then delivered to customers through the company’s delivery network.  

 

Swiggy Instamart- Instamart, is a service accessible via a mobile app or website, that allows users to shop for groceries and household items. Orders are placed with the merchant partners, packed in warehouses, and delivered by couriers.  

 

Swiggy Dineout- Dineout helps users find restaurants, view menus and photos, make reservations, take advantage of deals, and pay online. 

 

Swiggy Genie- Genie is a local delivery service that lets users send items from one place to another within a city. You can use Genie to send anything from documents and packages to groceries and gifts.

 

Additionally, there is Swiggy Super which is a loyalty program that offers benefits like free delivery, no surge pricing, and exclusive offers to its members.   

 

Conclusion

Swiggy’s IPO is a major milestone, showcasing its dominance in India’s food delivery market. With a diverse range of services, a proven track record, and a strong focus on customer satisfaction, Swiggy is well-positioned for further growth. Going public will enable the company to expand its operations, enhance brand visibility, and solidify its position as a leading player in the industry. 

 

Disclaimer: This blog is posted solely for educational purposes. The securities mentioned are examples and not recommendations. It is based on various secondary sources from the internet and is subject to change. Please consult an expert before making any related decisions.