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<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

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

Former <keyword id="12987696" type="General" weightage="20" keywordseo="bharatpe-co-founder" source="Orion">BharatPe Co-founder</keyword> and managing director <keyword id="2988161" type="General" weightage="50" keywordseo="ashneer-grover" source="Orion">Ashneer Grover</keyword> said on Tuesday that <keyword id="830092" type="General" weightage="100" keywordseo="zomato" source="Orion">Zomato</keyword> should have acquired its arch rival <keyword id="6358977" type="General" weightage="80" keywordseo="swiggy" source="Orion">Swiggy</keyword> than 10-minute grocery platform <keyword id="12724311" type="General" weightage="50" keywordseo="blinkit" source="Orion">Blinkit</keyword> to avoid the mayhem it is experiencing on Dalal Street. Zomato's share price tanked over 11 per cent on Monday and more than 7 per cent to hit an all-time low of Rs 43.05 on Tuesday. According to <keyword id="3433" type="General" weightage="50" keywordseo="grover" source="Orion">Grover</keyword>, merging Swiggy would have seen Deepinder Goyal-led Zomato to reach Rs 450 a share. "On the stock market - letsblinkit served piping hot misery to zomato in 10 minutes! Yeh hi agar Swiggy ko merge kar liya hota to Rs 450 ka stock hota!" (<keyword id="14560447" type="General" weightage="50" keywordseo="had-zomato" source="Orion">Had Zomato</keyword> merged with Swiggy, its stock price would have been Rs 450) tweeted Grover. Zomato acquired Blinkit for about $568 million, saying quick commerce is a natural extension of its food delivery business. The shares of the food delivery platform touched a new low of Rs 43.05 on Tuesday, wiping out more than Rs 89,000 crore. In May, Grover had said that buying Zomato shares, even when it had been falling for months, wouldn't be a bad idea. "It's all about perspective. If you were a Zomato employee and exercised your ESOP (employee stock ownership) at Rs 140 or higher post IPO, you probably paid more cost per share as Income Tax, than what you can buy today from the market freely. At Rs 56 per share price, markets are giving everyone ESOPs," he had tweeted. Grover, along with his wife <keyword id="13057738" type="General" weightage="50" keywordseo="madhuri-jain-grover" source="Orion">Madhuri Jain Grover</keyword>, has incorporated a new company called 'Third Unicorn Private Limited' that has both husband and wife as directors, according to the data available on Tofler. Third Unicorn has an authorised share capital of Rs 20 lakh and a total paid-up capital of Rs 10 lakh. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/dgca-gives-clean-chit-to-spicejet-says-no-safety-violation-found/articleshow/93133139.cms">DGCA gives clean chit to SpiceJet, says no safety violation found</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/star-javelin-thrower-neeraj-chopra-ruled-out-of-commonwealth-games-due-to-groin-injury-ld/articleshow/93133172.cms">Star javelin thrower Neeraj Chopra ruled out of Commonwealth Games due to groin injury (Ld)</a>

Ashneer Grover blames Zomato's Blinkit acquisition for its share price fall

<ul><li><keyword id="802" type="General" weightage="20" keywordseo="gaurav-gupta" source="Orion">Gaurav Gupta</keyword> had joined <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword> in 2015 and was elevated to the position of co-founder last year</li><li>Zomato has elevated Gunjan Patidar, Mohit Gupta and Akriti Chopra as the co-founder over the last 2 years.</li><li>Zomato has been carrying out clean up drive on the side by striking off entities and vertices that didn’t contribute much to its revenue.</li></ul>Zomato’s initial public offering (IPO) was the watershed moment of the Indian startup ecosystem, paving the way for many other such newage businesses to hit the public market.It was all hunky dory till the time of the IPO but there have been a series of changes — both good and bad — in Zomato’s business. The most recent one is the exit of co-founder Gaurav Gupta, who was the head of supply at Zomato and one of the key people behind the company’s run-up to the listing. Gupta had joined Zomato back in 2015 as a business head of table reservation. He was promoted to the position of global advertising sales head in 2017 and as the chief operating officer of the company in 2018. Zomato also elevated Gupta as the co-founder of the company in 2019. Over the past two years, Zomato has elevated several key management personnels to the position of co-founders. This includes Gunjan Patidar, Mohit Gupta and Akriti Chopra. The company was originally founded by Deepinder Goyal and Pankaj Chaddah in 2008. The report about Gupta’s exit was first <a href="https://www.moneycontrol.com/news/business/companies/zomato-founder-gaurav-gupta-quits-7464451.html">reported</a> by Moneycontrol. Business Insider reached out to Zomato and Gaurav Gupta seeking confirmation of the report. The article will be updated as and when we get their response. A <a href="https://economictimes.indiatimes.com/tech/startups/zomato-cofounder-gaurav-gupta-quits-shares-decline/articleshow/86192987.cms">report</a> by Economic Times citing sources noted that Tuesday is Gupta’s last day at Zomato. He will be using this break to spend time with family and plan out his next professional sprint. Gupta may also look to start his own venture soon. The story just doesn’t end here. Over the past months there have been several changes in Zomato's business and structure as well. July 2021: In terms of financial performance, Zomato’s reported a consolidated <a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-reports-nearly-three-fold-increase-in-annual-revenue-in-neck-and-neck-race-with-zomato/articleshow/85233393.cms">loss of ₹356 crore</a> in the March to June quarter of 2021. This was a significant increase from ₹99.8 crore reported in the same time frame last year. The company’s operational revenue also hit ₹916 crore in Q1 of FY22 compared to ₹283.5 crore revenue in the same quarter last year. August 2021: The company has started a clean up drive and is<a href="https://www.businessinsider.in/business/corporates/news/zomato-is-shutting-down-its-singapore-and-uk-based-subsidiaries/articleshow/85858611.cms"> closing its international entities</a> that had minimal or no contribution to the company’s revenue. This includes Singapore-based Zomato Media Private Limited (ZMPL) and UK-based Zomato UK Limited (ZUL). The company has also divested its stake in its US-based subsidiary Nextable Inc., for $100,000. August 2021: Besides this Zomato has also pulled the plug on groceries and nutraceutical business, which Gupta was overlooking as per the Moneycontrol report. "This business can potentially be a large value driver for Zomato in the future,” Gupta had said last year. Though Zomato had already closed down the groceries business earlier this year, it planned to re-enter it with more preparations. The Gurugram-based company now hopes to rely on groceries delivery giant Grofers, in which it <a href="https://www.businessinsider.in/business/startups/news/zomato-reportedly-invests-120-million-in-grofers/articleshow/83951631.cms">invested</a> in June. Zomato had also shut down its alcohol delivery business earlier this year due to low demand, different regulations in different states, and that it found the unit economics not feasible. September 2021: <div type="image" title="snapshot-The sequence of events leading up to the exit of Gaurav Gupta from Zomato" msid="86194846" hostid="261"></div> The share price of Zomato has also been growing since it got listed on July 14. The company’s shares touched ₹152.75 today (September 14), which is an all-time high for food aggregator business. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/lenskart-vision-fund-will-invest-20-million-in-eye-technology-startups/articleshow/86188885.cms" data-type="tilCustomLink">Lenskart is setting aside $20 million for technologies like instant glasses, spectacles for the colourblind and other breakthrough ideas</a> <a href="https://www.businessinsider.in/education/news/an-indian-software-icon-says-dont-push-kids-need-not-learn-coding-early/articleshow/86190611.cms" data-type="tilCustomLink">An Indian software icon says kids need not learn coding early</a> <a href="https://www.businessinsider.in/tech/news/facebook-has-a-secret-system-granting-5-8-million-high-profile-users-immunity-from-its-rules-a-new-report-says/articleshow/86177677.cms">Facebook quietly lets 5.8 million politicians and celebrities get special enforcement of its rules, report says</a>

The sequence of events leading up to the exit of Gaurav Gupta from Zomato

Following the success of hosting <keyword id="6354427" type="General" weightage="50" keywordseo="apple" source="Orion">Apple</keyword> <keyword id="6354606" type="General" weightage="80" keywordseo="iphone" source="Orion">iPhone</keyword> 14 and iPhone 14 Pro on the platform last year, Zomato-owned quick grocery delivery platform <keyword id="12724311" type="General" weightage="20" keywordseo="blinkit" source="Orion">Blinkit</keyword> on Friday said that they again partnered with Unicorn, Apple premium reseller to deliver the latest 'Make-in-India' iPhone 15 and iPhone 15 Plus at your doorsteps if you live in Delhi NCR, Mumbai, Pune and Bengaluru. iPhone 15 and iPhone 15 Plus are now officially going on sale in India, including on the Blinkit platform. Blinkit customers will be able to avail no-cost EMI, low-cost EMI and cashback up to Rs 5,000 on eligible HDFC cards. "This unique association is global first and we are certain this will lead to pure joy for our customers who appreciate the convenience of getting highly anticipated products delivered to their doorstep, almost instantly," Albinder Dhindsa, Co-Founder and CEO of Blinkit, said in a statement. Dhindsa also shared the development on X, adding "Super proud of the platform that can put the new iPhone in your hands on launch day in 10 minutes!". Available in 6.1-inch and 6.7-inch display sizes, iPhone 15 and iPhone 15 Plus are available in pink, yellow, green, blue, and black finishes in 128GB, 256GB, and 512GB storage capacities, starting at Rs 79,900 and Rs 89,900, respectively. --IANS shs/prw

Blinkit starts home delivery of 'Make-in-India' iPhone 15, 15 Plus

Online learning platform <keyword id="6630114" type="UNKNOWN" weightage="20" keywordseo="unacademy">Unacademy</keyword> is now valued at $3.44 billion after the latest round of fundraising, where it got investments to the tune of $440 million. Over the last 18 months, the valuation of the <keyword id="9578177" type="UNKNOWN" weightage="20" keywordseo="unacademy-group">Unacademy Group</keyword> has risen almost 10 times, the company reportedly said in a statement. This was the Series H round of funding for Unacademy where Aroa Ventures, the family office of hotel chain <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword>’s Founder Ritesh Agarwal, and Deepinder Goyal, Co-Founder and CEO at Zomato, participated. Some angel investors of Unacademy have exited in this round. Aside from these, existing investors like General Atlantic, Tiger Global and <keyword id="3749718" type="PERSON" weightage="20" keywordseo="softbank-vision-fund">Softbank Vision Fund</keyword> put in more money.This is the second investment by Tiger Global, and General Atlantic who increased their stake in Unacademy in January this year. The different shades of India’s booming edtech The six-year old startup founded by Gaurav Munjal, Hemesh Singh and Roman Saini, Unacademy has a growing network of more than 50,000 registered educators and over 62 million learners, in 14 Indian languages across 5,000 cities. Unacademy is known for its offerings that help students prepare for competitive exams and it has been one of the biggest beneficiaries of the shift to online learning. Unacademy differentiates itself from Byju’s, which relies on pre-recorded content, and Vedantu that is known for its live-tutoring. India’s edtech industry, which had an annual revenue pool of $700 million at the end of March 2020, saw its business double in the following year due to the pandemic, according to data from Goldman Sachs. The global investment bank expects the entire edtech space to be worth $30 billion dollars by March 2024 as Indians spend the most on education, as a proportion of household consumption, after China. Unacademy has been acquiring other startups amidst an edtech boom Late last month, Unacademy announced that it has acquired game streaming platform <keyword id="11725251" type="UNKNOWN" weightage="20" keywordseo="Rheo-TV">Rheo TV</keyword>. Rheo TV is a platform that helps professional game streamers livestream their gameplays and monetise those feeds. In February, Unacademy acquired TapChief, a professional networking and "future-of-work" platform, at a valuation of ₹100 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/news/byjus-last-two-acquisitions-and-a-deal-with-disney-reveal-its-american-dream/articleshow/84783749.cms">Byju's last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India</a> <a href="https://www.businessinsider.in/personal-finance/news/six-red-flags-for-investors-to-avoid-becoming-a-victim-of-misselling-by-agents-or-financial-advisors/slidelist/84782913.cms">Six red flags for investors to avoid becoming a victim of misselling by agents or financial advisors</a>

The founders of OYO and Zomato pump in money to make edtech startup Unacademy worth $3.4 billion ⁠— a ten fold jump in 18 months

Online food delivery platform <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> has elevated its Chief People Officer Akriti Chopra as a co-founder, as the company plans a $1.1 billion IPO later this year. In an internal email sent to employees and seen by <keyword id="105681" type="COMPANY" weightage="20" keywordseo="IANS">IANS</keyword>, Zomato Founder and CEO Deepinder Goyal said that Chopra has "mostly been behind the scenes all these years, working hard and building an impeccable finance team which keeps our engines running flawlessly". "The quality of her work, her work ethic, and the insane ownership of the team she's built, all shone very brightly (and continues to) over the last few months as we prepared ourselves our IPO," Goyal added. Chopra was the <keyword id="53346" type="PERSON" weightage="20" keywordseo="CFO">CFO</keyword> till about late last year and left the position as the company firmed up its IPO plans. Zomato has now announced Akshant Goyal as the new CFO. "Spotting talent, getting out of their way and actually helping them succeed is what Akriti did so super comfortably with Akshant. I only aspire to be able to do this as easily as her when it's my time to hand over," said Goyal. A year ago, Zomato elevated CEO of its food delivery business Mohit Gupta as a co-founder. Earlier, <keyword id="802" type="PERSON" weightage="20" keywordseo="Gaurav-Gupta">Gaurav Gupta</keyword>, the COO, was appointed as a co-founder. In April, Zomato filed for an IPO with the Securities Exchange Board of <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> (<keyword id="35210" type="COMPANY" weightage="20" keywordseo="sebi">SEBI</keyword>), as the food delivery platform intends to raise Rs 8,250 crore (roughly $1.1 billion) this year amid the growing business in the pandemic. In a draft red herring prospectus (DRHP) filed with the market regulator, Zomato said it aims to raise ₹8,250 crore in capital by offering the company's equity shares for sale. Of this, ₹7,500 crore will be through fresh issuance and the rest of the Rs 750 crore will be an offer for sale for its existing investor Info Edge. Zomato has already converted itself into a public limited company from a private one. It is planning for a $750 million-$1 billion IPO later this year, as more and more people are ordering food online amid the ongoing pandemic. In February, Zomato raised $250 million (around ₹1,800 crore) in a new funding round from five different investors. The transactions valued Zomato at a post-money valuation of $5.4 billion. The new funding for Zomato came just a couple of months after closing a $660 million financing round. SEE ALSO <a target="_blank" class="c-link" href="https://www.businessinsider.in/india/news/india-covid-vaccine-policy-changes-june-21-yoga-day-pm-modi/articleshow/83308314.cms">These are the changes in India’s vaccine policy that will kick in from June 21</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/stock-market/news/pnb-housing-finance-shares-hit-upper-circuit-six-days-in-a-row-but-the-potential-upside-could-be-limited-now/articleshow/83305929.cms">PNB Housing Finance shares hit upper circuit six days in a row, but the potential upside could be limited now</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/india/news/heres-why-fuel-prices-in-india-may-not-come-down-in-a-big-way/slidelist/83299743.cms">Here’s why fuel prices in India may not come down in a big way ⁠— at least not this year</a>

Food delivery firm Zomato elevates former CFO Akriti Chopra as co-founder, ahead of its IPO

Zomato co-founders <keyword id="476451" type="PERSON" weightage="20" keywordseo="Deepinder-Goyal">Deepinder Goyal</keyword> and <keyword id="8388355" type="UNKNOWN" weightage="20" keywordseo="pankaj-chaddha">Pankaj Chaddha</keyword> grew as successful entrepreneurs by leaps and bounds. Through their tireless experimentation, learning and zealous perseverance, they made what seemed like an impossibility into something wonderful and trendsetting in the ecommerce industry. Here are a few interesting facts about the Zomato founders that can inspire any aspiring individual. Believed in strategizing Deepinder and Pankaj took every single step strategically. When their idea to provide a common platform for people to find restaurants took off instantly, they went about streamlining the process, assigning specific tasks to the employees and creating a model that ensured revenue sharing system. Strongly felt expanding is the key to growth Soon after they entered the food tech industry, they felt expanding their business was necessary to stay on top of the industry. They ensured that every move they made was aimed at expansion. They launched Zomato Gold and Zomato PickUp along with the restaurant finding app and also expanded into other areas of business as well. Moved into areas that their competitors did not One strong reason why Zomato could succeed was the founders moved into areas where their competitors did not. They also focused on high quality products. They always studied the competition around them thoroughly and took steps to stay one step ahead of others. Committed towards their employees Observers say the dauntless trust that the founders of Zomato had in their employees was a crucial reason for their success. Motivated by their inspiring example, Zomato has employees who work for more than 12 hours in a day without any complaints. The founders gave the employees an awesome chance to grow like they could find nowhere else. Broke-even and drove their firm to profitability very soon Zomato was the first Indian e-commerce venture to break even very soon after its founding and turn towards profitability. Earned much through advertisements Their restaurant search website experienced a phenomenal growth and overtook the performance of other similar concepts in other industry segments rather very quickly. Talking about their business model, Goyal said, “Our unwavering focus is on making money. The bulk of our revenues comes from advertising and we aim at multiplying our revenue while keeping costs stable.” Spent the lowest amount on customer acquisition Many startups spend a big amount on customer acquisition. Founders of Zomato say they spend as little as $0.7 on acquiring a customer in an average and it starts breaking even once the customer orders for the first item to be delivered. Achieve massive growth in terms of big numbers The growth that the founders of Zomato achieved is phenomenal. Their website has more than 90 million monthly visitors. The number of Zomato Gold customers is over 800,000. The company made more than $206 million as revenue in the financial year 2019. 12,000 restaurants have been partnered with Zomato while Zomato Gold has over 6,500 partners. In an average, the Zomato portal books above 3 million orders on the 1.4 million restaurants listed on the website. Zomato services cover 23 countries and more than 10,000 cities.

Unknown Facts About Zomato co-founders Deepinder Goyal and Pankaj Chaddha

<ul><li><keyword id="967069" type="General" weightage="100" keywordseo="thrive" source="Orion">Thrive</keyword> provides a self-service tool that enables restaurants to create their own direct-ordering platform in under 10 minutes, regardless of their location in the country. </li><li>According to projections, the online food delivery market in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> is expected to grow rapidly at a rate of approximately 35%. </li><li>The partnership is expected to provide <keyword id="6385848" type="General" weightage="20" keywordseo="coca-cola-india" source="Orion">Coca-Cola India</keyword> with access to potential business opportunities and improve its digital consumption offerings.</li></ul>Coca-Cola India has acquired a 15% minority stake in Thrive, an Indian foodtech platform. This marks the first time the beverage giant has invested in an Indian startup. Since the pandemic hit, restaurants have had to adapt to a new normal. Hashtag Loyalty, a company in the customer engagement and retention technology for retail and hospitality businesses, realised that the situation wasn't going to improve anytime soon, and that they needed to make changes. To better understand how the new normal was shaping up, they spoke to both their customers and their customers' customers. Their research revealed several insights, including that health is now a top priority, delivery is no longer a luxury but a necessity, and emotional loyalty is more important than ever. With these insights in mind, Hashtag Loyalty launched Thrive, an all-in-one restaurant-ordering platform that includes delivery, pickup and table ordering with built-in marketing features. <cmsannotation type="cmsannotation" annotationid="Letting restaurants create their own direct-ordering platform" comment="subhead" text="Letting restaurants create their own direct-ordering platform">Letting restaurants create their own direct-ordering platform</cmsannotation> Thrive, established in 2020 by Hashtag Loyalty co-founders <keyword id="11169609" type="General" weightage="50" keywordseo="dhruv-dewan" source="Orion">Dhruv Dewan</keyword>, Karan Chechani and Krishi Fagwani offers restaurants an alternative to partnering with food delivery giants like <keyword id="830092" type="General" weightage="50" keywordseo="zomato" source="Orion">Zomato</keyword> and Swiggy. “The biggest problems faced by restaurants in the online-ordering ecosystem in India include high commission rates charged by delivery aggregators, lack of control over customer data, and difficulty in competing with larger, established players in the market,” reads a LinkedIn article posted by the company. It aims to change this. Thrive provides a self-service tool that enables restaurants to create their own direct-ordering platform in under 10 minutes, regardless of their location in the country. The company has developed an all-in-one SaaS (software as a service) solution that aids restaurants in creating their own ordering experiences, allowing them to save up to 30% of their revenue and own their customer data. Restaurants partnering with Thrive can establish their own delivery network and gain access to customer data, which sets them apart from competing aggregators. Moreover, Thrive says it charges a notably low commission fee of only 3% per transaction, giving restaurants the opportunity to earn higher profits. Thrive has expanded its services to more than 10,000 restaurants across India. Thrive raised $2.5 million in a Series A funding round led by Jubilant FoodWorks Limited in December 2021. Before that, in November 2020, it had raised an undisclosed amount in a pre-Series A round led by Whiteboard Capital and Ahimsa Capital. <cmsannotation type="cmsannotation" annotationid="The Coca-Cola partnership" comment="subhead" text="The Coca-Cola partnership">The Coca-Cola partnership</cmsannotation> The partnership with Coca-Cola India will help Thrive enhance consumer experience by allowing them to order their preferred beverages alongside their desired meals from Thrive's affiliated restaurants. According to projections, the online food delivery market in India is expected to grow rapidly at a rate of approximately 35%, reaching a gross merchandise value of around $18 billion and accounting for about 18% of the total food service industry by fiscal year 2025. This will be driven by an increase in users from 20 million to 60 million. Coca-Cola India's investment in Thrive is expected to provide the company with access to potential business opportunities in this growing market and improve its digital consumption offerings.

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