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Food and grocery delivery behemoth <keyword id="6358977" type="General" weightage="20" keywordseo="Swiggy" source="Orion">Swiggy</keyword> is on a roll, pushing out multiple new services simultaneously, ahead of the festive season, and its much-touted Rs 11,664 crore IPO. Experts anticipate the IPO to hit the bourses in the upcoming months. Earlier last week, the company's shareholders had approved of raising the fresh issue component of the IPO, from Rs 3,750 crore previously to Rs 5,000 crore. This will allow Swiggy to add an extra Rs 1,250 crores to its coffers for future growth. The remaining Rs 6,664 crore will be an OFS (offer for sale), largely paving a way for Swiggy's old investors to exit. In the buildup to its IPO, the delivery giant is dialing up the competitive fever big time with 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>, which went public in 2021. Swiggy recently launched <keyword id="23440051" type="General" weightage="20" keywordseo="XL-Fleet" source="keywords">XL Fleet</keyword> for large-scale <keyword id="20299302" type="General" weightage="20" keywordseo="food-delivery" source="keywords">food delivery</keyword> and Bolt, which is an <keyword id="23461052" type="General" weightage="20" keywordseo="AI-powered-logistics" source="keywords">AI-powered logistics</keyword> system. Per some media reports, the company is also launching an invite-only concierge membership program called the "Rare Club", which will have an annual fee of up to Rs 50,000. <h2>Who doesn't love a little pettiness? </h2>But that's not it. In the time being, Swiggy is also aggressively looking for ways to gain maximum public attention, one of which is by sponsoring the fourth season of the popular entrepreneurial reality show <keyword id="11924074" type="General" weightage="20" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword>. But here's the catch-a key condition of this deal is to not bring back Zomato CEO <keyword id="19901325" type="General" weightage="20" keywordseo="deepinder-goyal" source="keywords">Deepinder Goyal</keyword> as a shark. Media reports suggest that Swiggy is set to close on a massive Rs 40-60 crore sponsorship deal with the show. But in a seemingly low-ball move, Swiggy has blocked the return of Zomato CEO Deepinder Goyal as one of the investors on the show. Goyal had made his debut on the third season of the show, and was looking to make a comeback alongside long-time regulars such as Anupam Mittal, Aman Gupta, Namita Thapar and Peyush Bansal. <h2>Bolting ahead with XL</h2>In a move that clearly underlines its ambitious expansion plans, Swiggy also recently announced the launch of its new XL Fleet service, which will look to cater exclusively to bulk orders and large-scale food deliveries. Per Swiggy's co-founder Nandan Reddy, XL is a natural evolution of Swiggy's services. As it is, a recent report by Bain and Company highlighted that India's food services market is set to double to a massive Rs 9 trillion by 2030, surging up significantly from its current standing of Rs 5.5 trillion. Not just that, the customer base is also set to expand from 320-340 million as of 2023 to 430-450 million by the end of the decade. Earlier this year, Zomato had also stepped in this segment by launching its large-order electric fleet, which could serve orders for a gathering of up to 50 people. Alongside this, Swiggy has unveiled Bolt, which is an AI-powered logistics system specifically designed to optimize delivery routes, predict demand patterns, and improve overall operational efficiency. The aim is to bring down on delivery time and costs, giving Swiggy a massive competitive edge in the growing food and quick delivery market. With this feature, Swiggy claims that users can get certain meals such as burgers, <h2>Challenges Await </h2>As of FY24, Swiggy's operating revenue stood at ₹112.5 billion, a 36% jump from the previous year. The company also managed to reduce its net losses by as much as 44% to ₹23.5 billion. While these may come across as positive signs, which are also pushing the company's unlisted shares to new heights, Swiggy significantly lags behind Zomato in both food delivery and quick commerce segment. Consider this. Per Morgan Stanely, as of FY24, Swiggy's GOV (gross order value) at Rs 24,700 crore, was far lower than Zomato's Rs 32,200 crore. Swiggy's GOV and AOV grew at a CAGR of 15.5% and 2.5% respectively, between FY22-24. In contrast, Zomato's GOV and AOV registered a CAGR of 23% and 3.7%, respectively. At 12.7 million, Swiggy's MTU (monthly transacting users) for FY24 were also a far cry behind Zomato's 18.4 million. Even when it comes to average order value (AOV), Swiggy's Instamart lags behind Zomato's Blinkit. This is also why analysts believe that despite Swiggy narrowing the gap on most key metrics like AOV, GOV and more, the company's share will command a lower valuation than that of its rival Zomato.

Ahead of much awaited IPO, what is Swiggy upto? Launching XL Fleet, premium membership and kicking out Zomato CEO

We’ve all been there—hungry, scrolling through <keyword id="20299302" type="General" weightage="20" keywordseo="food-delivery" source="keywords">food delivery</keyword> apps, trying to satisfy our cravings. And among the many options, one name stands out: <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords">Zomato</keyword>. And huge credit for this goes to those cheeky push notifications. A household name in India and many parts of the world, Zomato has become synonymous with food delivery. But have you ever wondered where the name “Zomato” actually came from and what is the reason behind those push notifications that seem to be flirting with you? <keyword id="19901325" type="General" weightage="20" keywordseo="Deepinder-Goyal" source="keywords">Deepinder Goyal</keyword>, the CEO of the <keyword id="23915877" type="General" weightage="20" keywordseo="food-tech-giant" source="keywords">food tech giant</keyword>, answered these questions on the latest episode of The <keyword id="21100902" type="General" weightage="20" keywordseo="Great-Indian-Kapil-Show" source="keywords">Great Indian Kapil Show</keyword> on Netflix. <h2>How was Zomato’s name born</h2>In a conversation with comedian Kapil Sharma, Goyal shared how the name “Zomato” was born out of necessity rather than creativity. The platform’s founders had originally envisioned the name to have something to do with “tomato” — a staple ingredient in many dishes, and a word that’s easily recognisable. But here’s the twist: when they went to register the domain, tomato.com was already taken! Not to be deterred, they simply tweaked the letter and came up with “Zomato” — a name that not only worked but ended up being memorable, too. The “Z” was added for that perfect tech-savvy ring to the name, and the rest, as they say, is history. And while Goyal didn’t spill the final details about whether it’s pronounced “Zomato” or “Zomaato,” he did confirm one thing — it’s all about how you want to say it. Just like a ripe tomato, the name has become part of the cultural fabric. The debate about the exact pronunciation, as seen in hilarious ads with cricketers Harbhajan Singh and Sreesanth, only adds to the charm. <h2>About Zomato’s <keyword id="23915874" type="General" weightage="20" keywordseo="cheeky-notifications" source="keywords">cheeky notifications</keyword></h2>That’s not all. The Zomato CEO also talked about another amusing aspect of the Zomato experience—those cheeky, flirtatious push notifications. We’ve all received a notification that says, “Your food is just 10 minutes away!” But did you ever stop to think about why Zomato’s notifications always seem to have a bit more personality? Well, it turns out the company’s marketing team, full of youthful energy and passion, took Deepinder’s advice to heart. He had asked them to “build a relationship with the customer,” inspired by a book he read—though he himself wasn’t entirely sure what that meant. The results? A fun, almost flirtatious tone that’s become a signature of Zomato’s communication style. “Our marketing team is very young. They don't have any background in marketing. They are passionate people. So, I briefed them one day to make a relationship with the customer. Even I didn't know what it meant. I don't have any marketing background. I read a book and it said to make a relationship with the customer. I told them. They took me seriously,” Goyal said during the show. So, next time you get that slightly cheeky notification from Zomato, you’ll know that it’s not just about food—it’s about building a connection with you.

I asked my young marketing team to 'make a relationship' with customers, they took me seriously: Zomato’s Deepinder Goyal on cheeky notifications

Whenever a company is acquired by another, a common question that arises is what will happen to the employees of the company that is being acquired? Recently, <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword> made headlines with its acquisition of <keyword id="19898109" type="General" weightage="20" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword>'s entertainment and ticketing business for Rs 2,048 crore. The all-cash deal, announced late Wednesday, marks a significant step in Zomato's efforts to broaden its horizons beyond food delivery and into the 'going-out' business. <keyword id="19901325" type="General" weightage="20" keywordseo="Deepinder-Goyal" source="keywords">Deepinder Goyal</keyword>, the CEO of Zomato, sent a letter to the company's shareholders, expressing optimism about the acquisition while acknowledging the challenges that lie ahead. He also revealed that Zomato will be absorbing around 280 Paytm employees. According to a report in ET, in his letter to shareholders, <keyword id="19895372" type="General" weightage="20" keywordseo="goyal" source="keywords">Goyal</keyword> said that the company is betting heavily on the team that will be onboarded as part of this acquisition. Unlike previous acquisitions, such as <keyword id="22892653" type="General" weightage="20" keywordseo="uber-eats-india" source="keywords">Uber Eats India</keyword> and Blinkit, where Zomato had established relationships with the teams involved, this deal introduces a new set of dynamics. "This acquisition is our first major acquisition where we are acquiring a team that we do not know very well," the Zomato CEO said. He also stressed on the importance of cultural integration, noting that the main driver of success would be the seamless assimilation of the new team into Zomato's "flattish culture." In the same letter, Goyal also talked about the potential for growth in this segment, pointing out that the success of the business would largely depend on Zomato's ability to introduce new use-cases such as shopping and staycations. He said, "We believe, over the next decade and beyond, going-out experiences will continue to grow strongly in lockstep with overall growth in lifestyle and consumption." One of the key elements of this acquisition is the impending launch of Zomato's new app, District, which is expected to go live in the coming weeks. This app will centralize various lifestyle services, including dining, movies, live events, and more, under a single platform. Initially, services will continue to be offered on the existing apps, such as Zomato, Paytm, Insider, and TicketNew. However, over time, these services will be migrated to District, creating a more streamlined and cohesive user experience. Goyal expressed confidence in the company's ability to manage the transition, highlighting that Zomato has roped in experienced team members, Rahul Ganjoo and Pradyot Ghate, to lead the execution. These two Zomans were instrumental in the successful transition of Uber Eats India to Zomato, and Goyal believes they will be key to ensuring a smooth migration of customers to the new platform. However, Goyal also acknowledged that some incentives might be required to encourage customers to move from the older apps to District. He described this as a marginal financial risk, which the company would try to minimize as much as possible.

Zomato will absorb around 280 Paytm employees, CEO Deepinder Goyal says

Think of this. You have ordered food online and have marked it as cash on delivery. The delivery person arrives and the bill amount is Rs 488. You hand over Rs 500 to the delivery person and there’s that commonly heard phrase, “change nahi hai kya.” Most of us have been in situations like these and now that <keyword id="20030235" type="General" weightage="20" keywordseo="UPI-payments" source="keywords">UPI payments</keyword> are more common than ever, hardly anyone seems to be carrying change. Food delivery giant <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword> seems to have found a solution to this problem. The company’s CEO <keyword id="19901325" type="General" weightage="20" keywordseo="Deepinder-Goyal" source="keywords">Deepinder Goyal</keyword> announced in a post on X that delivery partners can now add COD orders’ balance amount to a customer’s <keyword id="22710108" type="General" weightage="20" keywordseo="Zomato-Money-account" source="keywords">Zomato Money account</keyword> instantly. That way, nobody has to worry about carrying change. <h2>Zomato CEO has answer to your change problems</h2>In his post on X, Goyal wrote, “For cash on delivery orders, finding exact change can sometimes be inconvenient. Starting today, our customers can pay delivery partners in cash, and ask for the balance amount to be added instantly to their <keyword id="22700688" type="General" weightage="20" keywordseo="zomato-money" source="keywords">Zomato Money</keyword> account. This balance can be used towards future delivery orders or dining out.” Goyal also acknowledged that this idea was inspired by Tata group-owned <keyword id="20041313" type="General" weightage="20" keywordseo="Big-Basket" source="keywords" meta.keywordsubtype="org" meta.entityname="Big Basket" meta.hostid="261" meta.entityid="Big Basket">Big Basket</keyword>. “Thank you @bigbasket_com for the inspiration for this solution, and our delivery partners (three of them are working as product managers with us) for insisting that we develop this asap,” he wrote. <h2>Zomato earns crores from platform fee</h2>Zomato was also making headlines earlier this week for raking in a lot of moolah by charging platform fees. The company started charging platform fees in August last year and this has proved to be a successful business move. During its annual report, Zomato revealed that it has collected Rs 83 crore till March from levying platform fee. For the unversed, platform fee is a small additional charge that the company adds to your order. Think of it as a convenience fee for using the app's services, including delivery, customer support, and the seamless experience of browsing through hundreds of restaurant options. Initially, the company used to levy Rs 2 per order as platform fee. But that amount has grown in the last year and today Zomato charges Rs 6 as platform fee in key areas. It can be located when you load the bill details of your order.

Zomato announces new feature for cash on delivery orders and it can help solve a huge problem

If you are living in a metropolitan area in India, chances are you regularly order food from <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword>. The company launched in India in 2008 and was earlier just a food delivery service. Overtime, it evolved into a food discovery platform as people can rate restaurants, reserve tables, leave reviews and more. Now, we all know that when we order food via Zomato we end up paying slightly more. There are various charges that the company levies on users including handling charges and delivery fee. In August last year, Zomato started charging a <keyword id="20299300" type="General" weightage="20" keywordseo="platform-fee" source="keywords">platform fee</keyword> from users. And this has proved to be a successful business move for the platform as during its annual report, the company revealed that it has collected Rs 83 crore till March from levying platform fee. So what exactly is this platform fee that has raked in moolah from the company? Moreover, how does it benefit Zomato and what effect does it have on the end consumer? Read on to find out. <h2>What is Zomato’s platform fee?</h2>Zomato's platform fee is a small additional charge that the company adds to your order. Think of it as a convenience fee for using the app's services, including delivery, customer support, and the seamless experience of browsing through hundreds of restaurant options. Initially, the company used to levy Rs 2 per order as platform fee. But that amount has grown in the last one year and today Zomato charges Rs 6 as platform fee in key areas. It can be located when you load the bill details of your order. <div type="image" title="Zomato levies platform fee" msid="112313825" hostid="261" sizebytes="48995" caption="&amp;lt;p&amp;gt;Zomato levies platform fee&amp;lt;/p&amp;gt;"></div> <h2>How it impacts Zomato</h2>The Platform fee might seem like a minor addition to your bill, but when multiplied by millions of orders, it becomes a significant source of revenue for Zomato. Since every order placed incurs this charge, it increases the company’s "take rates" — the profit made per order. This fee serves as a crucial, controllable revenue stream in the supply chain, providing a steady income source that companies can directly manage. Alongside advertising fees and restaurant commissions, the platform fee has become a significant revenue generator for Zomato. In other words, levying a platform fee is basically a clever way for Zomato to boost its revenue without significantly increasing the prices of individual menu items. During its annual report, Zomato identified the platform fee as one of the three main factors driving Zomato's Adjusted Revenue, which saw a 27 percent year-on-year growth, reaching Rs 7,792 crore in FY24. "Adjusted Revenue as a percentage of GOV (gross order value) continued to rise, primarily due to higher restaurant commission take-rates, improved ad monetization, and the introduction of the platform fee from Q2FY24 onwards," the report highlighted. The report also added that all of the above mentioned factors compensated for the reduction in customer delivery charges per order due to the free delivery benefit available on Gold orders. <h2>How are you affected by Zomato’s platform fee?</h2>Zomato’s report also revealed that most late-night orders in the last fiscal year came from Delhi NCR, while Bengaluru led in the number of breakfast orders. Now the question that arises is, how exactly is the end consumer being affected by the platform fee? One of the obvious answers is that it makes your order a bit more expensive. Especially if you order from the food delivery giant on a daily basis. You might not even notice the addition of Rs 6 in your final bill but if you order food from Zomato everyday and start calculating, it will come up to be a noticeable amount. Say you have ordered food from Zomato everyday since the last three months. In this case, you would have ended up paying around Rs 540 as platform fee. Moreover, platform fee tends to be higher during peak hours or weather conditions. Thus, the order ends up being even costlier. Just last month, CEO of Bengaluru-based company <keyword id="22689022" type="General" weightage="20" keywordseo="capitalmind-deepak-shenoy" source="keywords">Capitalmind Deepak Shenoy</keyword>, was making headlines for saying that he has reduced ordering food from <keyword id="19896956" type="General" weightage="20" keywordseo="swiggy" source="keywords">Swiggy</keyword> and Zomato because of higher platform fees. “Massively reduced ordering from Swiggy/Zomato, down to just once maybe on a weekend, like today and noticed their 'platform' charge is now ₹6. Happy that I weaned myself off the daily ordering. They also take 30 percent from restaurants, btw,” he wrote in a post on X (earlier called Twitter).

Zomato earned Rs 83 crore from platform fee: What it is, how it benefits the company and how it affects you

<ul><li><keyword id="19912297" type="General" weightage="20" keywordseo="NVIDIA" source="keywords" meta.keywordsubtype="org" meta.entityname="NVIDIA" meta.hostid="261" meta.entityid="NVIDIA">NVIDIA</keyword> and <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> have partnered to build AI computing infrastructure.</li><li>NVIDIA will also supply the latest Blackwell AI chip for Reliance Industries’ new data centre.</li><li>The partnership was announced at the NVIDIA AI Summit India.</li></ul> <keyword id="16173150" type="General" weightage="20" keywordseo="NVIDIA-CEO-Jensen-Huang" source="Orion">NVIDIA CEO Jensen Huang</keyword> at the NVIDIA AI Summit India announced a partnership with Mukesh Ambani-led Reliance Industries to an artificial intelligence (AI) computing infrastructure and an innovation centre in India. As part of the partnership between the two companies, Reliance Industries will use the latest Nvidia Blackwell AI chip for its new major data centre. The company will use NVIDIA's cutting-edge technology, including the GB200 GPUs. The two companies are aiming to accelerate India's transformation into a global AI powerhouse with the partnership, banking on the nation's talent pool and growing digital infrastructure. "India is already world-class in designing chips, Nvidia's are designed here in Bengaluru, Hyderabad, Pune. A third of Nvidia is Indian, maybe more," Huang said. While praising the country’s rapid digitalisation in recent years and talking about the country’s potential in the AI sector, Huang said, “Very few countries have this amazing natural resource called IT and computer science expertise.” "We are at the doorsteps of the new intelligence age. India will be one of the biggest intelligence markets. It's not just our aspiration, but also the raw gene power which will help drive intelligence,” said Reliance Industries chairman <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>. "India will not just deliver CEOs to world, but also AI services. Like we did with data, in few years from now we can surprise the world with what Indians can achieve in intelligence," Ambani added. Ambani revealed the company’s plans to establish a scalable infrastructure capable of expanding beyond 1 gigawatt, powered by green energy. "We are building this so we can scale, and we think big," he said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/deepak-builders-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114533208.cms">Deepak Builders IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/news/synology-introduces-new-enterprise-solutions-reports-significant-growth-in-india/articleshow/114504353.cms">Synology introduces new enterprise solutions, reports significant growth in India</a> <a href="https://www.businessinsider.in/tech/apps/news/diwali-gift-zomato-platform-fee-increased-to-rs-10-ahead-of-the-festive-season/articleshow/114493617.cms">Diwali gift from Zomato – Platform fee increased to ₹10 ahead of the festive season</a>

NVIDIA and Reliance Industries to build AI computing infrastructure in India

New Delhi: Online food delivery platform <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="83" meta.entityid="Zomato">Zomato</keyword> will acquire <keyword id="19898109" type="General" weightage="20" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="83" meta.entityid="Paytm">Paytm</keyword>'s entertainment <keyword id="20028334" type="General" weightage="20" keywordseo="ticketing" source="keywords">ticketing</keyword> business for Rs 2,048 crore to strengthen its "going-out" segment in a deal that will help the troubled fintech firm to sharpen its focus on core payments and financial services distribution. Paytm's entertainment ticketing business covers movies, sports, and events (live performances). The boards of Zomato and One 97 Communications Ltd (OCL) have approved the all-cash deal. As part of this agreement, OCL's entertainment ticketing business will transfer business to its 100 per cent subsidiaries Orbgen Technologies Pvt Ltd (OTPL) and Wasteland Entertainment Pvt Ltd (WEPL), followed by the sale of 100 per cent stake in these subsidiaries (which operate the TicketNew and Insider platforms) to Zomato. Subsequently, Zomato will spin off the new business into a new app called 'District'. Under the deal, Zomato will fully acquire Orbgen Technologies Pvt Ltd (OTPL), which is into movie ticketing, for Rs 1,264.6 crore and buy Wasteland Entertainment Pvt Ltd, which is into events ticketing for Rs 783.8 crore. The combined entertainment ticketing business has a scale of Rs 297 crore in revenue and Rs 29 crore in adjusted EBITDA in FY24. "The transfer will also include around 280 existing employees from the entertainment ticketing business," OCL said in a statement, adding that the transaction generates significant profits for Paytm and cash proceeds will further strengthen the balance sheet. Announcing the deal, Paytm said it allows the fintech to strengthen its focus on core payments and financial services distribution. Paytm said with its strong focus on long-term value creation, the company remains confident in substituting revenue from its entertainment ticketing business by expanding core business areas of payments and financial service distribution. "This move allows us to continue focusing on long-term growth in our core areas and value creation for all stakeholders," a Paytm spokesperson said. On the other hand, Zomato Managing Director and CEO <keyword id="19901325" type="General" weightage="20" keywordseo="deepinder-goyal" source="keywords">Deepinder Goyal</keyword> in a letter to shareholders said, "The proposed acquisition helps us add more scale and offer newer use-cases (like movie and sports ticketing) to our customers in this segment". Zomato believes the deal makes it more relevant to its customers and gives an opportunity to spin off the business into a new app. "We are going to call it District, which could be a game changer for each of these use cases given the need for a single brand as a destination in this segment," Goyal added. Zomato is keen to position 'District' as the brand that consumers turn to when they are thinking of going out, he added. OTPL was incorporated on November 23, 2007, in India. It is in the business of listing and sale of movie tickets and other services. It had a turnover of Rs 13.14 crore in the fiscal ended March 31, 2024. WEPL was incorporated on December 21, 2015. It is in the business of listing and sale of event tickets and other services. Its turnover in the FY24 was Rs 236.03 crore. Paytm said the move to sell its entertainment ticketing business underscores its core focus on payments and financial services distribution. "In recent quarters, the company has also expanded its offerings in insurance, equity broking, and wealth distribution, with a significant opportunity to cross-sell these services and grow its market presence as a leading financial services distribution player," Paytm said. During a transition period (up to 12 months), the movie and event tickets will continue to be available on the Paytm app, as well as on the TicketNew and Insider platforms, ensuring a smooth and uninterrupted experience for users and merchant partners. Paytm said the deal underscores its success in building businesses and creating value for shareholders. Zomato's Goyal said the District app is expected to be launched anytime in the next few weeks. Post this acquisition, he said Zomato's going-out business would be spread across multiple different platforms. Its existing going-out business (dining-out + event ticketing) would continue to run on the Zomato app, and the acquired business -- movie, sports and event ticketing -- would continue to run on Paytm's main app for a transition period of up to 12 months, along with Insider and TicketNew apps. Both of these would get transferred to Zomato as part of the transaction. District app will duplicate the offerings above and over time, we will gradually nudge our customers to move from the Zomato, Paytm, Insider, and TicketNew apps to the District app. "Once most customers start transacting on the District app, we will remove the duplication and shut down this business on all the other apps. Eventually, there will just be a button to launch the District app on the Zomato app (like it is for Blinkit today) so that we continue to tap into the large customer base of Zomato," he added.

Zomato to acquire Paytm's entertainment ticketing business for Rs 2,048 crore

<keyword id="19896956" type="General" weightage="100" keywordseo="Swiggy" source="keywords" meta.keywordsubtype="org" meta.entityname="Swiggy" meta.hostid="261" meta.entityid="Swiggy">Swiggy</keyword> is a popular choice for Indians when it comes to getting food delivered. The company's founder recently revealed that the decade-old startup partners with over 3 lakh <keyword id="19980908" type="General" weightage="20" keywordseo="restaurants" source="keywords">restaurants</keyword> today. But were things always this bright with the <keyword id="20299302" type="General" weightage="20" keywordseo="food-delivery" source="keywords">food delivery</keyword> platform? Not really. On its first day, the company had 0 <keyword id="20198062" type="General" weightage="20" keywordseo="orders" source="keywords">orders</keyword>. <h2>Swiggy's journey through its founder's lens</h2>Founded in 2014, Swiggy started with modest aspirations. The company's co-founder and CEO Sriharsha Majety revealed the startup's journey in a LinkedIn post recently as Swiggy marked its 10th anniversary. Majety reminisced about the humble beginnings when the concept of food delivery was still new in India. “When we launched Swiggy on August 6, 2014, we ended the day with zero orders. The next day, we received our first-ever order, marking the true beginning of our journey,” he wrote, recalling how the company's journey started with just one order. One of the first restaurants to partner with Swiggy was Truffles, a well-known eatery in Bangalore, which began with just two daily orders on the platform. Today, Swiggy’s network has grown exponentially, boasting partnerships with over 300,000 restaurants across the country. Majety also expressed deep gratitude to the early partners who believed in Swiggy’s vision when the concept of on-demand food delivery was still in its infancy. He acknowledged that these early collaborators were more than just business partners; they were integral to Swiggy’s foundation and its evolution into the industry leader it is today. “Their trust and partnership have been invaluable, and they are like core founding team members who helped create food delivery in India as we know it today,” he wrote in the LinkedIn post, highlighting the importance of collaboration in the company’s success. <h2>Swiggy's stock market debut</h2>As Swiggy celebrates this significant milestone, it does so on the cusp of another major event: its anticipated stock market debut. With <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>, its primary competitor, already listed, Swiggy’s entry into the stock market is eagerly awaited. Speaking at the Moneycontrol Startup Conclave, Majety had reflected on the implications of having a listed competitor. He noted the advantages, such as not needing to explain the fundamentals of the on-demand economy, as well as the challenges, particularly the inevitable comparisons that will arise with each quarterly performance report. As of April 2024, Swiggy has achieved a valuation of USD 12.7 billion, a figure that underscores the company’s impressive growth trajectory over the past decade. Thus, from its beginnings with a single order to becoming a leading player in India’s food delivery market, Swiggy’s journey is an inspiration for all startup founders out there.

Swiggy co-founder reveals the company had 0 orders on day 1, now it has over 3 lakh partners

<ul><li><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> and <keyword id="19896956" type="General" weightage="20" keywordseo="Swiggy" source="keywords" meta.keywordsubtype="org" meta.entityname="Swiggy" meta.hostid="261" meta.entityid="Swiggy">Swiggy</keyword> have increased the <keyword id="20299300" type="General" weightage="100" keywordseo="platform-fee" source="keywords">platform fee</keyword> charged to users by 20%.</li><li>With this increase, the platform fee has increased from ₹5 to ₹6.</li><li>The platform fee charged is different from GST, delivery charges and restaurant charges applied on the platforms.</li></ul> Your food deliveries will get costlier as Zomato and Swiggy have started increasing the platform fee by 20%. The <keyword id="19922227" type="General" weightage="20" keywordseo="food-delivery-platforms" source="keywords">food delivery platforms</keyword> will now charge users ₹6 per order. Food delivery platforms Zomato and Swiggy introduced platform fees in 2023, which began at ₹2 per order. This was then increased to ₹3 and then to ₹5 in April 2024. <h2>Platform fee increases threefold</h2>In yet another increase, the two food delivery platforms have increased the platform fee to ₹6. This means that the platform fee has increased threefold in a year. The platform fee is different from other charges levied on orders such as GST, delivery charges and restaurant charges. Customers are required to pay this charge irrespective of any membership such as<a href="https://www.businessinsider.in/business/news/swiggy-cracks-down-on-password-sharing-allows-users-to-use-same-account-on-only-two-devices/articleshow/97548345.cms"> Swiggy One</a> or<a href="https://www.businessinsider.in/tech/apps/news/zomato-gold-re-launched-with-free-deliveries-vip-access-up-to-40-discount-on-dining-and-more/articleshow/97273088.cms"> Zomato Gold</a>. The increased platform fee is currently being tested in selected cities such as Delhi and Bengaluru. It is expected to be rolled out in a phased manner across all major cities. While an increase of ₹1 may seem insignificant to most people who place orders online, it adds up to a good source of revenue for Swiggy and Zomato which process lakhs of orders every day. Platforms such as Zomato and Swiggy aim to earn ₹1.25 to ₹1.5 crore per day through platform fees. <h2>Customers not happy</h2>Customers have not reacted positively to this news. Posts on platforms like X have criticised this move, calling for users to directly order from restaurants. <div type="twitter" handle="trippyankit" handlename="trippyankit" favoritecount="0" retweetcount="0" id="1812756936669921328"></div> The user highlighted that food prices are already comparatively higher on food delivery platforms. The difference in price is due to the commission paid by restaurants to Swiggy and Zomato, which usually ranges between 20 to 30%. <h2> Zomato share price surges</h2>Zomato’s share price increased by 3% to close at ₹229.10 on Monday after the company increased the platform fee. The company’s share price has increased by over 70% in the last six months, helping the company’s chief executive officer (CEO)<a href="https://www.businessinsider.in/stock-market/news/zomatos-deepinder-goyal-joins-elite-list-of-indian-billionaires/articleshow/111747793.cms"> Deepinder Goyal</a> become a billionaire. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9-lite-5g-with-90hz-display-5000mah-battery-launched-starting-at-10499/slidelist/111754545.cms">iQOO Z9 Lite 5G with 90Hz display, 5000mAh battery launched starting at ₹10,499</a> <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-grow-6-5-in-q2-2024-xiaomi-records-highest-growth/articleshow/111749023.cms">Global smartphone shipments grow 6.5% in Q2 2024, Xiaomi records highest growth</a> <a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-four-ipos-to-hit-the-street-this-week/articleshow/111745283.cms">IPOs this week – four IPOs to hit the street this week</a>

Zomato and Swiggy increase platform fee by 20% – food deliveries to get costlier

In 2024, grocery shopping is a thing of the past in India. Delivery platforms like <keyword id="19939135" type="General" weightage="20" keywordseo="Swiggy-Instamart" source="keywords">Swiggy Instamart</keyword>, <keyword id="20069203" type="General" weightage="20" keywordseo="Blinkit" source="keywords" meta.keywordsubtype="org" meta.entityname="Blinkit" meta.hostid="261" meta.entityid="Blinkit">Blinkit</keyword> and <keyword id="19939134" type="General" weightage="20" keywordseo="Zepto" source="keywords" meta.keywordsubtype="org" meta.entityname="Zepto" meta.hostid="261" meta.entityid="Zepto">Zepto</keyword> have made life easier for millions of people by delivering regular household items at their doorsteps. Ran out of salt? Order it online. Ran out of flour? Order it online. Need some stationery items for your kid’s school project? It can be delivered too. The list is endless. <h2><keyword id="21384253" type="General" weightage="100" keywordseo="Zepto-CEO" source="keywords">Zepto CEO</keyword> compares it with Zomato</h2> Zepto, which is newer when compared to Swiggy and Blinkit, is a popular choice in many areas. And its CEO and co-founder <keyword id="22736526" type="General" weightage="20" keywordseo="Aadit-Palica" source="keywords">Aadit Palica</keyword> feels that the company is in the stage where <keyword id="19904608" type="General" weightage="20" keywordseo="Amazon" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon" meta.hostid="261" meta.entityid="Amazon">Amazon</keyword> was in 1990s or early 2000s. While speaking at the Moneycontrol Startup Conclave 2024 on Friday, Palicha drew a bold comparison between his company’s current trajectory and that of Amazon during the late 1990s and early 2000s. He added that with the right execution, Zepto could potentially achieve a valuation between $50 billion and $80 billion, positioning itself as a leader in the global quick commerce sector. With that being said, Palicha is keenly aware that success isn’t guaranteed. “It is largely just execution,” he noted, talking about the importance of flawless operational strategy in turning potential into reality. He also acknowledged the history of companies that had the right ingredients for success but failed to execute, highlighting Zepto’s commitment to staying focused on its core business for the foreseeable future. Over the past year, Zepto has been on an aggressive fundraising streak, securing significant investments that have fuelled its growth. In August 2023, Zepto raised $231 million at a valuation of $1.4 billion, marking its entry into the unicorn club. But that was just the beginning. The startup recently closed another funding round, pulling in $665 million and boosting its valuation to $3.6 billion. The momentum doesn’t stop there. Zepto has attracted further interest from investors, with discussions underway for an additional $250 million in funding. This new round, which could grow to as much as $400 million, is expected to push the company’s valuation to around $4.6 billion. <h2>When Palicha said Zepto will be bigger than D-Mart </h2> This isn’t the first time that Palicha has made a bold prediction about Zepto. Last month, Palicha had said that Zepto would be bigger than D-Mart in the near future. Speaking at the JIIF Foundation Day event in Delhi, Palicha had pointed out that despite D-Mart’s impressive $30 billion valuation, the retail behemoth is currently only 4.5 times larger than Zepto in terms of sales. "D-Mart is a $30 billion company, and they are only 4.5 times our size in sales. If we maintain our current pace, growing 2-3 times each year, we could potentially surpass them in the next 18-24 months," Palicha had said.

You Searched For "Zomato CEO" and got 10 results

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