Multinational internet and media group Naspers, which already holds stake in Swiggy, is partnering with Tencent to emerge as a frontrunner to lead a $150-200 million investment in Swiggy, after Softbank that holds stake in Uber, and Flipkart ended independent funding discussions with the online food delivery platform.
Zomato and Swiggy Merger
Chinese web based business goliath Alibaba and its payment affiliate Ant Financial’s endeavors to push Zomato and Swiggy towards a merger, with plans to put resources into the joined element, stalled out because of vital and valuation contrasts.
Ola’s Acquisition of Foodpanda
While Swiggy is very much promoted, Ola’s current securing of Foodpanda India constrained the organization and its speculators to backpedal to the planning phase, with the subsidizing being potentially shut speedier than was examined before, said individuals mindful of the improvements.
Growing Fast in terms Revenue
Swiggy grew the fastest in terms of revenue in fiscal year 2016-17, even as losses increased by 50% to Rs 205 crore. The online food delivery service said that the expansion in losses was congruent with a four-fold increase in order volumes in FY17 even as it managed a 35% reduction in delivery costs.
Swiggy, till date, has raised about $155 million in equity and $8 million in debt, totaling $163 million. That’s second only to $225 million raised by Zomato.