Delhivery CEO, two others appointed as independent directors on Swiggy's board
The development comes a month after the food aggregator announced the company will fire 380 employees or 6% of its total 6,000 workforce.
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Swiggy FY22 loss doubles to ₹3,628 cr; revenue grows 2x
The net loss of the food and grocery delivery platform widened due to sharp rise in expenses, which spiked to ₹9,748.7 crore, from ₹4,292.8 crore a year ago.
Zomato rebounds 6% from day's low post block deal; here’s why
Alibaba Group, which owns 13.3% stake in Zomato, reportedly sold shares worth $200 million in the company through a block deal today
Park Hotels’s Flurys, Taj Hotels Qmin, Meetha By Radisson test new models as hotel industry experiments
According to Indian Hospitality Trends & Opportunities Report, the revival of domestic travel and tourism has brought steam back into one of the worst impacted industries during the pandemic.
Deepinder Goyal to donate ESOPs worth ₹700 cr to Zomato foundation
The Zomato Future Foundation will cover the education expenses of up to two children up to ₹50,000 per child per annum of all delivery partners who are on its fleet for over 5 years.
Rapido raises $180 mn in funding round led by Swiggy, TVS Motor
The auto and bike taxi aggregator will use capital to build the team, strengthen tech capabilities, and enhance the consumer experience.
Grofers rebrands itself as Blinkit
Blinkit—which is building a 10-minute delivery model of everyday essentials—claims to be already processing over a million orders a week across 12 cities in India.
Swiggy to invest $700 mn in Instamart in quick commerce push
Co will make deliveries in 15 minutes at least in the top cities by January 2022. “Instamart is set to reach an annualised GMV run rate of $1 billion in the next three quarters,” says CEO Majety.
“Always let people do their job”
“It’s hard to let go when you are still young. We managed to do really well in hiring the first core team, and that is the most critical part of our story.”
Big-ticket deals dominate first half of 2021
In H1 of 2021, 17 growth-stage startups raised funds in the range of $100 mn-$500 mn while PE investments were at an all-time high of $26.3 bn, says a PwC report.
