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Online food delivery platform <keyword id="6358977" type="General" weightage="100" keywordseo="swiggy" source="Orion">Swiggy</keyword>'s losses doubled to ₹3,629 crore in FY22 compared to ₹1,617 crore in the last fiscal year. Total expenses went up 131% to ₹9,574.5 crore in FY22. According to its annual financial statement with the Registrar of Companies (RoC), during the last quarter of FY22, Swiggy turned "decacorn" (with a valuation of $10 billion and above) after raising a $700 million round led by Invesco. Meanwhile, Swiggy's revenue grew 2.2 times to ₹5,705 crore during FY22 as opposed to ₹2,547 crore in FY21. According to Entrackr, outsourcing support costs accounted for 24.5% of the total expenses of the company. This particular cost increased 2.3 times to ₹2,350 crore in FY22 from ₹1,031 crore in FY21. Its advertising and promotional expenses surged 4 times to reach ₹1,848.7 crore during FY22, according to the report. Reports surfaced last month that Swiggy may lay off more than 250 employees or up to 5% of its workforce starting January. "There have been no layoffs at Swiggy. We concluded our performance cycle in October and have announced ratings and promotions at all levels. As with every cycle, we expect exits based on performance," a Swiggy spokesperson had said in a statement. The upcoming layoffs are likely to impact Swiggy's quick commerce delivery service <keyword id="9728281" type="General" weightage="50" keywordseo="instamart" source="Orion">Instamart</keyword> to reduce cash burn. In November, global brokerage firm <keyword id="151304" type="General" weightage="50" keywordseo="jefferies" source="Orion">Jefferies</keyword> said that Swiggy was fast losing market share to its rival <keyword id="11830133" type="DOMAIN" weightage="20" keywordseo="zomato" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="zomato" meta.entityname="Zomato Ltd." meta.entityid="57948" meta.seoname="zomato-ltd">Zomato</keyword> despite offering heavy discounts. Citing Swiggy investor Prosus' financial report, Jefferies said that the gross value of Swiggy's food delivery business was $1.3 billion in the January-June period this year. Zomato in the same period logged a gross order volume of $1.6 billion. In May last year, Swiggy acquired Dineout, a dining-out and restaurant tech platform, for an undisclosed sum. According to sources, the acquisition size was around $200 million. Earlier this year, the food delivery platform raised $700 million led by Invesco at a $10.7 billion valuation. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tvs-motor-sales-slip-3-58-to-242012-units-in-dec/articleshow/96681654.cms">TVS Motor sales slip 3.58% to 2,42,012 units in Dec</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-manufacturing-pmi-hits-13-month-high-in-dec-on-rise-in-new-orders-strong-demand/articleshow/96678340.cms">India's manufacturing PMI hits 13-month high in Dec on rise in new orders, strong demand</a>

Swiggy's losses jump 2X to ₹3,629 crore in FY22, layoffs coming

<ul><li>Dunzo has registered a loss of ₹168.9 crores in FY19. </li><li>Its revenue from operations stood at ₹76.59 lakh. </li><li>Dunzo wants to hit 17 million monthly transactions by 2020, which could possibly mean more investment and more burning of cash. </li></ul>Hyperlocal delivery startup Dunzo has registered a loss of ₹168.9 crores in FY19 for a wafer thin revenue of ₹76.59 lakh. Its losses have grown eight times over, whereas its revenue even with a five-fold increase is still minuscule compared to its losses. According to <a href="https://www.livemint.com/companies/start-ups/dunzo-s-fy19-losses-up-by-8x-at-rs169-crore-11572437539021.html">reports,</a> Dunzo’s total revenue for the year stood at ₹3.5 crore, with ₹2.8 crore coming in from “other income”. The Google-backed Dunzo recently raised $45 million in a series D round from Lightbox, 3L Capital and others. It was reportedly valued at $200 million then. Dunzo was Google’s first direct investment in India. Dunzo is registering half a million monthly transactions but in an <a href="https://www.businessinsider.in/advertising/brands/article/dunzo-is-aiming-at-achieving-17-million-monthly-transactions-by-the-end-of-next-year-with-minimal-marketing/articleshow/71649421.cms">earlier interview</a> with Business Insider, Kabeer Biswas, co-founder and CEO of the company had said that they are aiming for 17 million monthly transactions by the end of 2020. But the four-year-old startup also has new and big competition. The much more experienced and heavily funded unicorn Swiggy entered its category with <keyword id="8016811" type="UNKNOWN" weightage="20" keywordseo="Swiggy-Go">Swiggy Go</keyword>. Now, Swiggy entered the space with a ready fleet of delivery executives and an established name, which would make it difficult for Dunzo as it aims to expand to 20 cities.

Dunzo lost ₹169 crore last year – Swiggy Go may make this year even tougher

<ul><li><keyword id="6358977" type="General" weightage="100" keywordseo="swiggy" source="Orion">Swiggy</keyword> is one of the top food delivery apps in India.</li><li>We often wonder how much money we are spending on such apps.</li><li>There’s an easy way to find out how much you have spent on Swiggy - keep reading to find out.</li></ul>Food delivery apps have made our lives easier as ordering you can enjoy your favorite dishes from restaurants far away from your home without having to step out of your door. While food delivery apps like Swiggy and Zomato are convenient to use, most of us have started spending more on outside food when compared to earlier. Most of us may not even realize how much we are spending on food delivery apps. If you have been wondering the same thing, we have a solution that will allow you to know the amount spent by you so far on Swiggy. <cmsannotation type="cmsannotation" annotationid="How to calculate how much you have spent on Swiggy" comment="subhead" text="How to calculate how much you have spent on Swiggy">How to calculate how much you have spent on Swiggy</cmsannotation> <div type="image" title="Screenshot (144)" msid="91810776" hostid="261" caption="&amp;lt;p&amp;gt;Click on Inspect&amp;lt;/p&amp;gt;"></div> <ul><li>To begin, open the Swiggy<a href="https://www.swiggy.com/restaurants"> website</a> on your computer.</li><li>Now, click on your name on the top right corner and click on “Orders”.</li><li>Now, keep scrolling and click on “SHOW MORE ORDERS”.</li><li>Keep repeating this until you reach the end.</li><li>Now, right-click using your mouse and click on “Inspect”.</li><li>Now, click on “Console”.</li><li>Then paste the below code in the console and press enter.</li></ul> amount_node_list = document.getElementsByClassName('_3Hghg'); amount_regex = /\d+.\d*/g; total_amount = 0 for (let i = 0; i &lt; amount_node_list.length; i++) { current_amount = amount_node_list[i].innerHTML; if (current_amount.match(amount_regex)) { integer_amount = parseInt(current_amount.match(amount_regex)[0]) total_amount += integer_amount; } } console.log("Total amount spent on Swiggy so far is ₹", total_amount); <div type="image" title="Screenshot (146)" msid="91810737" hostid="261" caption="&amp;lt;p&amp;gt;The total amount spent being shown.&amp;lt;/p&amp;gt;"></div> You will then be shown the total amount you have spent on Swiggy. In my case, it was ₹5,052. We hope this has helped you find out how much you have spent on Swiggy so far. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-to-foray-into-e-commerce-with-the-launch-of-minis-a-marketplace-for-local-stores/articleshow/91803819.cms">Swiggy to foray into e-commerce with the launch of Minis — a marketplace for local stores</a> <a href="https://www.businessinsider.in/stock-market/news/zomato-posted-a-1222-crore-loss-but-its-stock-gained-18-reasons-behind-the-surge/articleshow/91766080.cms">Zomato posted a ₹1,222 crore loss but its stock gained 18% — reasons behind the surge</a> <a href="https://www.businessinsider.in/india/news/andhra-pradesh-telangana-maharashtra-and-these-states-are-currently-charging-up-to-15-more-than-other-states/articleshow/91744626.cms">These states in India are paying up to ₹15 extra on petrol compared to other states</a>

How to find out how much you have spent on Swiggy so far

Online delivery platform <keyword id="6358977" type="General" weightage="100" keywordseo="swiggy" source="Orion">Swiggy</keyword> has sold its Cloud Kitchen business to Kitchens@, a leading player in the rapidly growing cloud kitchen industry, for an undisclosed sum, as the growth rate for food delivery slows down. The online food aggregator will become a stakeholder in Kitchens@ through the all-equity transaction of Swiggy's <keyword id="60938" type="General" weightage="80" keywordseo="access" source="Orion">Access</keyword>. Swiggy pioneered the Cloud Kitchen model with the launch of <keyword id="5980102" type="General" weightage="50" keywordseo="swiggy-access" source="Orion">Swiggy Access</keyword> in 2017. The Swiggy Access programme allows restaurant partners to establish kitchen spaces in neighbourhoods where they do not currently operate, with the goal of offering more variety and shortening delivery times for consumers. "The addition of Swiggy's Access kitchens will bolster the reach and operations of Kitchens@'s in four cities across 52 locations and more than 700 kitchens, providing customers with more convenient and efficient food delivery options," <keyword id="16683930" type="General" weightage="50" keywordseo="junaiz-kizhakkayil" source="Orion">Junaiz Kizhakkayil</keyword>, CEO of Kitchens@ said. By leveraging Swiggy's analysis of local demand and selection of high-performing partners, Kitchens@ said it can diversify food options and meet customers' needs in specific areas. "Swiggy Access was started with the aim to bridge hyperlocal gaps in restaurant supply and solve for variety, quality, and convenience of food. Since its inception, Access has enabled several restaurant partners to innovate and expand their reach to new customers in a cost-effective manner," said <keyword id="717554" type="General" weightage="50" keywordseo="rahul-bothra" source="Orion">Rahul Bothra</keyword>, CFO of Swiggy. The current transaction enables a combined annual GMV of $65 million (Rs 520 crore) for Kitchens@. The company aims to reach $100 million in revenue within the next 6 months and has already secured Letters of Intent with over 40 national and international brands to partner with it using a Master Franchise Model. To cut costs, Swiggy in January said it was laying off 380 employees. "The growth rate for food delivery has slowed down versus our projections (along with many peer companies globally). This meant that we needed to revisit our overall indirect costs to hit our profitability goals," Sriharsha Majety, Co-founder and CEO, said in an email to employees. The company also said that it will be shutting down its meat marketplace very soon as the company was not able to achieve product-market fit despite their iterations. The online food delivery platform's losses doubled to Rs 3,629 crore in FY22 compared to Rs 1,617 crore in the last fiscal year. Total expenses went up 131 per cent to Rs 9,574.5 crore in FY22, according to its annual financial statement with the Registrar of Companies (RoC). SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/indian-banks-decade-best-metrics-and-subdued-valuations-make-them-a-compelling-buy-bernstein/articleshow/98359442.cms">Indian banks’ decade-best metrics and subdued valuations make them a compelling buy: Bernstein</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/news/what-the-super-rich-are-buying-marilyn-monroe-painting-ming-era-chair-in-the-list/slidelist/98360028.cms">What the super rich are buying: Marilyn Monroe painting, Ming-era chair &amp; more</a>

Swiggy sells Cloud Kitchen biz to Kitchens@ as food delivery growth slows down

<ul><li>After a couple of dull years and a few failures, online grocery in India is back with a bang. </li><li>SoftBank has put in fresh funds in Grofers while Reliance Industries Limited is reportedly looking to buy a majority stake in Grab. </li><li>Swiggy had recently announced its foray into online grocery delivery with Swiggy stores. </li></ul> There was a time when the online grocery vertical had become the hot favourite with major players trying their luck in the game. But soon with failures piling up one over the other, exits were announced. Come 2019 and it seems like it’s going to be the year hyperlocal grocery delivery again. Sector leader BigBasket may become the first unicorn – clock a valuation of $1 billion – of 2019, and food delivery startup Swiggy threw in its hat into groceries with Swiggy Stores. Swiggy, which raised a whopping $1 billion in funding in December, has already piloted the operations in Gurugram and has tied up with <a href="https://www.business-standard.com/article/companies/swiggy-takes-on-bigbasket-grofers-to-deliver-groceries-from-local-stores-119021201294_1.html">3,500</a> local stores. However, these startups will be battling the deep pockets of Mukesh Ambani and the Japanese Softbank. Reliance Industries Limited is <a href="https://timesofindia.indiatimes.com/business/india-business/ril-in-talks-for-majority-stake-in-startup-grab/articleshow/68192744.cms">reportedly</a> in talks to buy a majority stake in Grab, a hyperlocal delivery startup for groceries, medicines and food based out of Mumbai. Grofers has raised <a href="https://tech.economictimes.indiatimes.com/news/internet/grofers-raises-fresh-funds-from-existing-investor-softbank-as-e-grocers-valuation-hits-425m/68203728">fresh funds</a> from SoftBank Vision Fund (the Japanese firm had earlier too invested in the e-grocery company) which takes its valuation to $425 million. This excitement was missing in the space the last few years. E-grocery startup PepperTap had to shut its operations in 2016. In a blog on <a href="https://yourstory.com/2016/04/peppertap-journey-navneet-singh">YourStory</a>, Navneet Singh, founder of PepperTap, wrote about the problem they faced. “The integration of our app with our partner stores was not great. In the race to pepper the whole country with PepperTap, we had brought too many stores online far too quickly,” he wrote. Another unicorn startup Paytm too had explored the e-grocery space with Paytm Zip, only to shut shop in 2015. So, even with clear failures in the past, what makes today’s unicorns still find their way into the space? A simple answer - the demand still exists. Grocery stores aren’t called convenience stores for nothing. For today’s millennial who is busy with work to order groceries on a tap is an easy, convenient way out. A report on the online grocery space in India by Red Seer consulting states, “Inspite of all these disruptions and changes, one thing that did not change was the massive potential for online grocery- as indicated by India’s USD 500+ Bn grocery market out of which a mere 0.2% is online (~USD 1.2 bn overall and ~USD 1 Bn considering only hyperlocal grocery).” The proof that it still works is seen in BigBasket’s <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/bigbaskets-wholesale-unit-revenue-up-35/articleshow/67358734.cms">revenue</a> report. In the year 2017-18, BigBasket saw its revenue grow by 35% while losses dropped by 53%. In FY19, the company expects the revenue to grow by <a href="https://www.moneycontrol.com/news/business/companies/bigbasket-chief-hari-menon-expects-75-revenue-jump-in-fy19-to-rs-3500-crore-3183251.html">75%</a>. Grofers which had posted a net loss of <a href="https://tech.economictimes.indiatimes.com/news/internet/grofers-narrows-loss-to-rs-258-cr-as-sales-double-in-fy2018/68105608">₹268 crore</a> in FY 17, managed to post a loss of ₹258 crore in FY18. The company has also added <a href="https://www.moneycontrol.com/news/business/grofers-eyes-rs-2500-crore-revenue-in-fy19-adds-2-5-lakh-new-customers-in-january-3453911.html">2.5 lakh</a> new customers in January, while also aiming for a revenue of over ₹2500 crore. And with big backers like Mukesh Ambani and Softbank entering the fray, the competition, too, will be intense. The battle for dominance may mean more discounts and cashbacks for consumers. See Also: <a href="https://www.businessinsider.in/swiggy-in-talks-to-acquire-ubereats-india-operations/articleshow/68110377.cms">Swiggy wants more on its plate, in talks to acquire Ubereats India</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> <a href="https://www.businessinsider.in/these-are-the-25-most-sought-after-startups-in-india-report/articleshow/65866420.cms">These are the 25 most sought after startups in India: Report</a>

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Swiggy's losses jump 2X to ₹3,629 crore in FY22, layoffs coming

IANS

Dunzo lost ₹169 crore last year – Swiggy Go may make this year even tougher

Sanchita Dash

How to find out how much you have spent on Swiggy so far

Sourabh Jain

Swiggy sells Cloud Kitchen biz to Kitchens@ as food delivery growth slows down

IANS

Online grocers are back in business in India with billions more to burn – and that may be good for consumers

Sanchita Dash

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