Swiggy is going full throttle with new revenue streams on the food delivery side, but will this be enough for its $1Bn+ IPO? Zomato’s food delivery platform is profitable, thanks to platform fees, and Zepto is on a tear on the quick commerce side after raising $1 Bn this year — but both need to thank Swiggy with at least a hat tip for showing the way. Swiggy was the first to introduce platform fees in July 2023, and Swiggy Instamart started the quick commerce revolution at the end of 2020. The Bengaluru-based company can take the credit for these two major developments in the Indian consumer internet story.
But now, with its IPO on the horizon, Swiggy not only has to prove its own worth against Zomato but also against Blinkit, Zepto, BigBasket, Flipkart, Jio and others in the quick commerce segment. And this is even before we take a look at the dining out vertical, where Zomato has big plans. Some clues about Swiggy’s strategy can be seen in this week’s reports about its FY24 numbers .
Over the past month or so, it has also launched several new revenue streams. Swiggy is going full throttle ahead of the IPO, but will this be enough to make a bull run in the public markets? Let’s find out, after these top stories from our newsroom. It’s all about the IPO.
Swiggy’s upcoming IPO is the most anticipated public listing for investors, as highlighted in Inc42’s recent investor survey after H1 2024 . Swiggy, which was last valued at $10.7 Bn, is said to be targeting a.