IAMAI, representing food delivery giants Zomato and Swiggy, ride-hailing companies Ola, Uber, and Rapido, has requested a two-month delay from the Delhi government for these platforms to report on their existing vehicle fleets.
Swiggy Valuation: The latest mark up in Swiggy's valuation comes as the Bengaluru-based food and grocery delivery company presses ahead with its planned $1 billion IPO.
Zomatos food-delivery CEO Rakesh Ranjan said in a letter to the shareholders that the demand environment in the October-December period was muted for the broader restaurant industry.
Hit by top-deck exits in the past year, Tata Digital, the ecommerce arm of the Tata Group, is trying to assuage senior executives who are still waiting for the stock option component of their pay. This and more in todays ETtech Morning Dispatch.
Zomato, in 2018, had launched a feature allowing users to tip delivery partners. Several other platforms, including its Bengaluru-based rival Swiggy, and ride hailing companies Uber and Ola, also allow their customers to tip the gig workers operating on their platforms.
According to Sriharsha Majety, the company’s quick commerce segment Instamart is on track to become contribution-margin break-even in the next few weeks.
Foodtech unicorn Swiggy on Thursday said its food delivery business, which accounts for the majority of its revenue, has turned profitable as of March 2023, ......