Food ordering and delivery company Swiggy is now planning to ramp up its advertisement business next year with an aim to generate as much as its overall revenue from that segment by 2020. Swiggy is also planning to start product development for the business to monetize relationships further with restaurant partners.
Competing with Zomato
The move is important for Swiggy as it is making most of its revenue from the delivery business, even as its rival Zomato is making much of its revenue through its advertising business.
A significant part of Zomato’s advertisement revenue comes from overseas, where it is present in 24 countries with about 1.4 million restaurants listed on the platform.
Launch of Swiggy Access Kitchen
Swiggy additionally plans to dispatch Swiggy Access, whereby it will bring conveyance just branch of accomplice eateries to new areas in different urban communities. The company is also starting its first Swiggy Access kitchen in Bangalore’s Marathahalli area.
Swiggy, which is in talks with players like Flipkart, Amazon, Paytm and Zomato, said it plans to continue as an independent company.
Food Tech Moment for India
“Food tech moment for India has arrived again. There is a lot of interest in strong execution. Swiggy continues to get a lot of interest from people who want to partner with us. We continue to remain an independent company,” said Swiggy cofounder Sriharsha Majety.