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Hello reader,
As a child, ordering food at home was a rare treat. I would keep the phone numbers of local restaurants in a telephone diary, which came in handy whenever we decided to place an order.
Fast forward to 2024 and life has changed so much. Groceries now arrive at my doorstep every other day, and I don’t cook on Sunday mornings. Hot idlis are delivered straight to my home by Swiggy (SWIGGY, NSE) or Zomato (ZOMATO, NSE). Thanks to these food delivery apps, I can enjoy my Sunday morning without having to enter the kitchen.
Swiggy has officially become the second Indian food delivery company – following Zomato – to go public. It raised US$1.4 billion at a nearly US$12 billion valuation.
This week’s big story takes a closer look at Swiggy, highlighting the potential of its quick commerce offering.
Quick commerce could soon surpass the firm’s food delivery business in revenue, becoming the company’s most important vertical. Aside from groceries, it sells a variety of items, including headphones, toys, clothes, and even blood pressure monitoring machines.
But it will face intense competition from the likes of Zomato’s Blinkit and quick commerce player Zepto.
— Samreen
THE BIG STORY
Image credit: Timmy Loen
Newly listed Swiggy’s path to profitability has no easy recipe
With Zomato’s deep pockets and clear lead across verticals, Swiggy faces a tough battle for market share.
3 Trends to keep an eye on
Hot stocks, earnings reports, restructuring, pressure from activist investors, and more.
Photo credit: Shutterstock
2 Eye-popping facts
The one you didn’t see coming
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