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New Delhi, Jun 8 () Food ordering and delivery platform Swiggy on Monday said it plans to transition the services offered by its premium on-demand delivery platform Scootsy in Mumbai to the company's platforms in the near future. Swiggy had acquired Scootsy in 2018 for around Rs 50 crore and said at that time that the Mumbai-based firm will continue to operate as an independent app post the acquisition. "To expand our footprint to all discerning customers across Mumbai, we will be transitioning the services offered by Scootsy to Swiggy's platforms in the near future. This will be the first major milestone in setting up the premium category for Swiggy," a Swiggy spokesperson said in a statement. In line with this, all Scootsy customers will be redirected to a curated selection on the Swiggy app where they can experience the same level of service along with the widest choice of cuisines and restaurants supported by Swiggy's delivery, it added. During the past few months, Swiggy has witnessed a surge in demand for curated food choices from premium brands, the statement said. "Through our partnerships with ITC Hotels, Marriott, Hyatt, KA Hospitality and the likes, we intend to further elevate our premium selection and category experience for consumers on Swiggy," it added. At Swiggy, the company is constantly adapting to the rapidly changing needs of consumers and the industry by fine-tuning its services, the statement said. AKT HRS

Swiggy to transition Scootsy's operations to its platforms

<ul><li><keyword id="9525065" type="UNKNOWN" weightage="20" keywordseo="foodtech-unicorn-swiggy">Foodtech unicorn Swiggy</keyword> on Monday said it has integrated its premium on-demand delivery platform Scootsy as well as its restaurant partners within the <keyword id="9525067" type="UNKNOWN" weightage="20" keywordseo="swiggy-platform">Swiggy platform</keyword>. </li><li>Swiggy acquired Scootsy in 2018 to offer quality experiences to discerning customers predominantly in upscale south Mumbai areas.</li><li>Some of the onboarded restaurants as a result of the integration of the two platforms include Yauatcha &amp; Hakkasan of KA Hospitality, The Table, Masque, <keyword id="465238" type="COMPANY" weightage="20" keywordseo="Royal-China">Royal China</keyword> and Four Seasons Hotel along with gourmet stores such as FoodHall. </li></ul> Foodtech unicorn Swiggy on Monday said it has integrated its premium on-demand delivery platform Scootsy as well as its restaurant partners within the Swiggy platform. Swiggy acquired Scootsy in 2018 to offer quality experiences to discerning customers predominantly in upscale south Mumbai areas. Some of the onboarded restaurants as a result of the integration of the two platforms include Yauatcha &amp; Hakkasan of KA Hospitality, The Table, Masque, Royal China and Four Seasons Hotel along with gourmet stores such as FoodHall. Restaurant partners transitioning to the Swiggy platform are set to reach a larger consumer base -- five times more across their target audience, the company said. "By leveraging synergies of both platforms, we are able to home deliver premium services to a much wider customer base in Mumbai," Vivek Sunder, Chief Operating Officer, Swiggy, said in a statement. Additionally, to cater to a wider audience base, the delivery range for premium restaurant partners has been extended up to 10 kilometres. Swiggy said the integration allows it to build on Scootsy's premium value proposition, its understanding of the niche consumer segment and existing capabilities in curating and delivering premium service offerings. "Since the acquisition of Scootsy in 2018, we have been closely observing the premium category and grasping the underpinnings of creating delightful experiences for discerning customers," Sunder said. "This, clubbed with the upshift in consumer interest in premium offerings made for the perfect timing to integrate Scootsy with Swiggy," he added. Swiggy recently also announced partnerships with luxury hotels across the country such as ITC Hotels, <keyword id="6384674" type="LOCATION" weightage="20" keywordseo="marriott">Marriott</keyword>, <keyword id="167366" type="LOCATION" weightage="20" keywordseo="Hyatt">Hyatt</keyword> and the Hilton will further elevate the premium experience for its users. SEE ALSO: <a href="https://www.businessinsider.in/international/news/india-just-surpassed-russia-to-become-the-country-with-the-3rd-highest-number-of-coronavirus-infections/articleshow/76804658.cms">India just surpassed Russia to become the country with the 3rd-highest number of coronavirus infections</a> <a href="https://www.businessinsider.in/tech/news/india-vice-president-launches-a-social-media-super-app-elyments-which-will-take-on-facebook-instagram-and-whatsapp/articleshow/76796178.cms">India’s Vice President launches a social media super app Elyments, which will take on Facebook, Instagram and WhatsApp</a> <a href="https://www.businessinsider.in/tech/news/intel-will-speed-up-mukesh-ambanis-5g-run-power-him-with-ai-and-possibly-a-jio-laptop/articleshow/76780290.cms">Intel will speed up Mukesh Ambani’s 5G run, power him with AI and possibly a Jio laptop⁠— all in return for massive amount of data</a>

Swiggy integrates 'premium' home delivery service Scootsy

New Delhi, Jul 6 () Food ordering and delivery platform Swiggy on Monday said the company has integrated premium on-demand delivery platform, Scootsy, and its restaurant partners with the Swiggy platform. Through the curated selection on the company's homepage, users in Mumbai can now access premium gourmet experiences delivered by its premium fleet of independent pick-up and delivery partners, Swiggy said in a statement. Swiggy acquired Scootsy in 2018 for around Rs 50 crore and had said at that time that the Mumbai-based firm will continue to operate as an independent app after the acquisition. This integration allows Swiggy to build on Scootsy's premium value proposition, its understanding of the niche consumer segment and existing capabilities in curating and delivering premium service offerings, the statement said. "Since the acquisition of Scootsy in 2018, we have been closely observing the premium category and grasping the underpinnings of creating delightful experiences for discerning customers. This, clubbed with the upshift in consumer interest in premium offerings, made for the perfect timing to integrate Scootsy with Swiggy," Swiggy Chief Operating Officer Vivek Sunder said. By leveraging synergies of both platforms, "we are able to home-deliver premium services to a much wider customer base in Mumbai," he added. The company's recent partnerships with luxury hotels across the country such as ITC Hotels, Marriott, Hyatt and the Hilton will further elevate the premium experience for its users, Swiggy said. AKT HRS

Swiggy integrates Scootsy to deliver premium culinary offerings in Mumbai

Ask any <keyword id="129467" type="UNKNOWN" weightage="20" keywordseo="start-up">start up</keyword> enthusiast in India about the hottest category of new venture till last year. The answer would unanimously be hyperlocal. This is one domain, which has seen a major rise, thanks to the rise in internet, payment options, and demand getting addressed by adequate supply almost instantly. However the tragedy came down last year when, according to an Inc42 report, out of the 64 startups that got funding in 2016, 51% of the total deal value was received by 27% of the total number of deals. Not just less funding, almost 25% of total number of startups in hyperlocal market has shut down and 10% have been merged or acquired by bigger players in the market. While flat hyperlocal organizations are finding it hard to stay alive in the game, curated market places are doing pretty well. And this Mumbai based start up <keyword id="2789665" type="UNKNOWN" weightage="20" keywordseo="Scootsy">Scootsy</keyword>, that raised USD 3.6 Million recently, is just killing it. In an <keyword id="6370284" type="ORGANIZATION" weightage="20" keywordseo="Exclusive">exclusive</keyword> interview with <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword>, Sandeep Das, Co-Founder and CEO of Scootsy tells what makes them take the big bite. Scootsy is a quick, curated one-stop delivery platform for a variety of categories ranging from restaurant food, gourmet food, fashion apparel and accessories to home décor, skin care, gifts, organic produce, toys, books and electronics.Scootsy unlocks new choices by partnering with the best Mumbai establishments across categories and makes them available within 60 minutes. 
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What’s unique? In a saturated market place, Scootsy has stayed unique. It is a highly curated platform with a very premium positioning. “We work with partners that do not deliver themselves such as <keyword id="102844" type="COMPANY" weightage="20" keywordseo="Hamleys">Hamleys</keyword>, The Bombay Canteen, The Table, Nicobar, Condé Nast magazines and <keyword id="132451" type="PERSON" weightage="20" keywordseo="Jean-Claude-Biguine">Jean-Claude Biguine</keyword>,” Das told Business Insider. “Besides food, we also deliver products from other categories like beauty, books, magazines, home décor and fashion. We cover long distances and are an intra-city platform. No other player offers similar services.” Not just delivery “We are not just a delivery platform, but a discovery one too. We help customers get acquainted with newer brands. One Look at the app and the customer gets a glance of the exciting brands we have on board for delivery. We are highly curated. For someone who is new to Bombay, Scootsy offers a holistic platform with exclusive brands across categories that include restaurants, Food, Sweets &amp; Bakes, Beauty Products, Electronics, Fashion and many more.” “For visitors or tourists, Scootsy can deliver everything from your morning coffee to the white t-shirt you left at home. From a restaurant perspective, we have the most acclaimed restaurants in the city exclusively on our app from The Bombay Canteen to The Table,” added Das. Different from the others 
 Our ticket size is the highest in the segment. Additionally, unlike other players, we focus on profitability and are on track to be profitable in Mumbai in the next 6 months. We are also planning on expanding our service portfolio with <keyword id="4515818" type="UNKNOWN" weightage="20" keywordseo="scootsy-express">Scootsy Express</keyword>, a unique value added service targeting the corporate segment in Mumbai and <keyword id="4515819" type="UNKNOWN" weightage="20" keywordseo="scootsy-kitchen">Scootsy Kitchen</keyword> which will help bring iconic home-based kitchens and restaurants from across the country to Mumbai.

This hyperlocal start up knows how not to get shut down in competition

Three years after rival <keyword id="19901323" type="General" weightage="20" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword> went public, raising Rs 9,375 crores, food and grocery delivery behemoth Swiggy is set to open for subscription on the Indian bourses between November 6th and 8th, 2024. Looking to raise Rs 11,327.43 crore from the markets, Swiggy has set a price band of Rs 371 to Rs 390 per share. The company is targeting a valuation of $11.3 billion, around 25% down from its initial target of $15 billion. The issue comprises Rs 4,499 crore worth of fresh issue, with the remaining Rs 6,828.43 crore coming via <keyword id="19951016" type="General" weightage="20" keywordseo="OFS" source="keywords">OFS</keyword> (offer for sale), with stakeholders like <keyword id="20294899" type="General" weightage="20" keywordseo="Prosus" source="keywords" meta.keywordsubtype="org" meta.entityname="Prosus" meta.hostid="261" meta.entityid="Prosus">Prosus</keyword> offloading about 5.2% of their stakes, which could translate into proceeds worth $510 million. The offer will conclude on November 8, and listing is tentatively scheduled for November 13, 2024. Other stakeholders who will be participating in the OFS at the present valuation include <keyword id="20064356" type="General" weightage="20" keywordseo="Accel" source="keywords" meta.keywordsubtype="org" meta.entityname="Accel" meta.hostid="261" meta.entityid="Accel">Accel</keyword>, which will sell around $60 million worth of their stake. Elevation Capital and Tencent's stake sale could earn them up to $30-35 million each. Swiggy's CEO <keyword id="20304807" type="General" weightage="20" keywordseo="Sriharsha-Majety" source="keywords">Sriharsha Majety</keyword> and co-founder Nandan Reddy are also expected to offload their shares. Currently, they hold 6.23% and 1.76% stakes in the company, respectively. The sale of around 0.1% stake by each is expected to earn them about $14 million in total. Notably, the company does not have any identifiable promoters, as per SEBI ICDR Regulations and the Companies Act 2013. From funds raised via IPO, the company plans to allot Rs 1,648 million for repaying borrowings made by its subsidiary, Scootsy. The app, which operated independently of Swiggy, offered <keyword id="20299302" type="General" weightage="20" keywordseo="food-delivery" source="keywords">food delivery</keyword> services from a selected list of high-end bakeries and restaurants in the city. Notably, Swiggy had acquired Scootsy in 2018 at a reported valuation of Rs 50 crore. However, Swiggy's foray into the premium-food delivery segment did not pan out well, and the company decided to shut Scootsy in 2020. However, per the company's RHP (red herring prospectus), Swiggy is planning to reinvest and revive Scootsy for extending their dark store network and making lease/license payments for the same. About Rs 11,787 million would be utilised for expanding Swiggy's dark store network for its quick commerce wing, <keyword id="20255906" type="General" weightage="20" keywordseo="Instamart" source="keywords">Instamart</keyword>. Swiggy has also allocated Rs 11,153 million for enhancing the brand's visibility and outreach. <h2>Negative cash flows from operations</h2>The company has only incurred net losses since its inception in 2014. However, the company's annual losses as a percentage of its revenue from operations has come down in the recent years. From 63.61% in 2022 to 20.90% in 2024, the losses as part of its revenue from operations further narrowed to 18.96% for the quarter ended June 30, 2024. Moreover, Scootsy is yet to receive requisite registrations and approvals for each of the dark store it intends to set up. It does not help that Scootsy has not run into greens over the past 2-3 years. The subsidiary had incurred losses worth Rs 2,953.5 million, which have burgeoned to Rs 4,239.72 million in FY24. Swiggy also lags behind its rival Zomato in terms of monthly transacting users (MTU), along with many other key financial and operational metrics. Zomato has a wider, pan-India presence, commanding a 57% <keyword id="20038792" type="General" weightage="20" keywordseo="market-share" source="keywords">market share</keyword> in FY24. Compared to this, Swiggy's market share stood at 43% during the same period. As of FY24, Swiggy's MTUs, at 12.7 million, are about 31% lower than Zomato's MTU of 18.4 million.

Swiggy sets IPO price band between Rs 371-390/share; offer likely to open on November 6th. Here's all you need to know

<ul><li>According to reports, the deal is in its final stages of negotiations. </li><li>The deal would give Swiggy a bigger hand to take on rival Zomato. </li><li>Swiggy had earlier announced that it is going to start grocery and medicine delivery too. </li></ul>Swiggy had a great 2018, grabbing the unicorn status. And now Swiggy wants a bigger share of the plate as it is in talks with Uber to take over the operations of <keyword id="4704786" type="PERSON" weightage="20" keywordseo="UberEATS-India">Ubereats India</keyword>. According to a report on the <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/uber-eats-india-likely-to-end-up-on-swiggys-plate/articleshow/68105369.cms">Economic Times</a>, the deal is in its final stages of negotiation and is expected to close by next month. The report further mentions that the deal could be a share swap, where Swiggy in exchange for taking over Ubereats will give the ride hailing company Uber a 10% stake. Earlier <a href="https://www.businesstoday.in/current/corporate/ubereats-on-sale-swiggy-zomato-competing-acquire-food-delivery-app-report/story/321164.html">reports</a> also suggested that Zomato and Swiggy both were looking at acquiring Ubereats India operations. Both the companies together hold 80% of the online food delivery space in India. With Swiggy reportedly leading the race for acquisition now, the deal would give the company a better stand to take on rival Zomato. Ubereats launched in India in 2016 and has grown considerably over time. Jason Droege, global head of Ubereats told <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/india-fastest-growing-market-for-ubereats/articleshow/66384076.cms">ET </a>that its India wing has grown seven fold in order volume in the past six months in India, while adding over 4,500 delivery partners each week. Swiggy became one of India’s fastest unicorn in June last year, getting the prime status in just four years of operations. In December 2018, the food delivery startup further raked up a whopping <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/with-1-b-new-money-and-3-3-b-valuation-swiggy-turns-swaggy/articleshow/67186809.cms">$1 billion</a> in funding, taking up its valuation to $3.3 billion. “With this funding, we will further invest in building differentiated offerings, plugging the white spaces in the ecosystem, and developing our technology while keeping superlative customer experience at the core," said Sriharsha Majety, CEO, Swiggy had then <a href="https://www.entrepreneur.com/article/308736">said</a>. The startup is also expanding its <a href="https://www.businesstoday.in/current/corporate/not-only-food-swiggy-will-also-delivery-groceries-medicines-vegetables-at-your-doorstep/story/318547.html">offering</a>, as it announced earlier in February, that it will soon start delivery of groceries, medicines and more. It has also been on an acquisition spree – it <a href="https://www.livemint.com/Companies/AOxcPY6Gu57vSsOLz5whiM/Swiggy-acquires-ondemand-delivery-platform-Scootsy.html">acquired</a> on demand delivery platform Scootsy to leverage the Scootsy’s existent network of restaurants and grow its consumer base. It had also acqui-hired the gourmet Asian food startup 48east. On the technology side, Swiggy had also taken over Bengaluru-based AI startup Kint.io. “This acqui-hire is part of Swiggy's strategy to scale our tech prowess by bringing in entrepreneurial teams that can solve unique customer problems,” said Dale Vaz, Head of Engineering and Data Sciences, Swiggy had told <a href="https://tech.economictimes.indiatimes.com/news/startups/swiggy-acquires-bengaluru-based-ai-startup-kint-io/67829829">ETtech</a>. See Also: <a href="https://www.businessinsider.in/swiggy-and-zomato-are-being-targeted-for-misusing-dominant-position-in-a-petition-filed-with-indias-competition-watchdog/articleshow/67376953.cms">Swiggy and Zomato are being targeted for ‘misusing dominant position’ in a petition filed with India’s competition watchdog</a> <a href="https://www.businessinsider.in/indian-food-delivery-startup-swiggy-raises-1-billion-in-nasper-led-funding-round/articleshow/67187165.cms">Indian food delivery startup Swiggy raises $1 billion in Nasper-led funding round</a> <a href="https://www.businessinsider.in/for-indian-startups-2018-has-been-a-year-of-bouncing-back-as-venture-capital-funding-doubles/articleshow/67286540.cms">For Indian startups, 2018 has been a year of bouncing back as venture capital funding doubles</a>

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Swiggy to transition Scootsy's operations to its platforms

PTI

Swiggy integrates 'premium' home delivery service Scootsy

IANS

Swiggy integrates Scootsy to deliver premium culinary offerings in Mumbai

PTI

This hyperlocal start up knows how not to get shut down in competition

Suchayan Mandal

Swiggy sets IPO price band between Rs 371-390/share; offer likely to open on November 6th. Here's all you need to know

BI India Bureau

Swiggy wants more on its plate, in talks to acquire Ubereats India

Sanchita Dash

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