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Swiggy not expanding to new cities for food delivery

Swiggy, an Indian food delivery platform, has decided to focus on improving operations in cities where it already operates rather than expanding to new locations.

The company has identified limited business potential in additional cities.

During the Q2 FY25 earnings call, Swiggy CEO Sriharsha Majety emphasized the need to concentrate on areas with high growth potential.

This strategy includes places like Delhi and Bengaluru and their expanding zones.

Rising rents in city centers and demand for affordable delivery services in these areas influence this decision.

Recent Swiggy developments

Timeline
02-Dec-2024 🍔 Swiggy expands 10-minute delivery service to over 400 locations
  • Swiggy’s 10-min delivery Bolt expands to 400+ cities
  • Partnership with 40,000 eateries including KFC, McDonald’s
15-Nov-2024 📉 Swiggy shares fall almost 6% after IPO
  • Swiggy shares drop nearly 6% on trading day 2
  • IPO fully subscribed, shares priced at ₹371-390
13-Nov-2024 📈 Swiggy shares surge on market debut after $1.4b IPO
  • Swiggy shares rise 7.7% post-IPO listing
  • IPO oversubscribed over three times by investors
06-Nov-2024 📦 Swiggy raises $606m from anchor investors before IPO launch
  • Swiggy secures $606M for $1.35B IPO
  • Global investors include BlackRock and Fidelity
29-Oct-2024 📈 Swiggy gears up for $11.3b IPO in November

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