- The food ordering and delivery start-up was last valued at $3.3 billion, set a new target of getting 100 million customers to transact 15 times a month on its platform over the next 10-15 years.
- Swiggy, the food technology start-up, has delivered more than 500 million orders a year, meeting its 2020 goal of delivering 360 million orders a year.
Swiggy, the food technology start-up, has delivered more than 500 million orders a year, meeting its 2020 goal of delivering 360 million orders a year.
The food ordering and delivery start-up was last valued at $3.3 billion, set a new target of getting 100 million customers to transact 15 times a month on its platform over the next 10-15 years.
“We are on a huge scale right now, delivering more than half a billion orders a year, with a presence in more than 500 pan-India cities, 1.4-lakh restaurant partners and a fleet of more than 2.1 lakh delivery partners. We will have half a million delivery managers in 18 months and at the same time a network of thousands of kitchen locations or’ pods’ with each Pod catering to 8-10 food brands, bringing 99 percent of our customers to Swiggy within 10 minutes, “said Sriharsha Majety, co-founder and CEO, Swiggy, in his keynote address to a huge audience at his first Gigabytes tech conference.
Swiggy has invested heavily in the country-wide development of kitchen facilities to tackle hyperlocal food supply shortages.
Calling Swiggy’s market opportunity to tap, Majety said: “India has 2 lakh restaurants, compared to 3 lakh restaurants in Beijing alone. In India, 10-15 meals a month are consumed outside the home, with distribution being 50-60 percent. Compare this with other geographies like the US, China or South East Asia, where people eat more than 50 times a month outside food, as the supply ecosystem supports demand for high-quality, affordable food options in these markets.
Once the ecosystem catches up in India over the next 10-15 years, Indians will eat outside 40-50 meals a month, 70-80 percent of which will be delivered. That’s the risk we’re trying to fix.
We will collaborate with partners to provide a meal at Rs 120–Rs 130 with high-quality food. “Swiggy has rolled out many new services such as Swiggy Stores and Swiggy Go that go beyond its core food ordering and delivery offering, taking on the likes of Grofers, BigBasket, Amazon Now and even Dunzo. Plans are on to carry out many more deals that will allow Swiggy to position itself as a one-stop delivery app that will solve the problem of the customer.
While announcing that Swiggy will soon be the third-largest employer in India after the Indian Railways and the Armed Forces, Majety stated, “We want to be the ‘ Kings of Convenience. ‘
Recently, Swiggy came up with instant pick up and drop service Swiggy Go to send packages anywhere across the city. According to the company, Swiggy Go can be used to pick up and drop laundry, papers, parcels, forgotten keys lunch boxes and more. Swiggy Go will be part of the main application just like the Swiggy Stores that promises to deliver groceries, flowers, medicines and other things to the user’s doorstep within an hour.