Connect with us

Latest News

Flipkart To Invest In Swiggy?

Published

on

Flipkart Invest In Swiggy,Startup Stories,Business Latest News 2017,Flipkart Invest in Food Tech Firm Swiggy,Food Delivery Startup Swiggy Latest News,Flipkart Investment Talks With Swiggy,Flipkart and Swiggy News Update,India Largest Ecommerce Startup

Flipkart, which has become India’s largest ecommerce startup, may reportedly invest in the Bengaluru based food delivery startup, Swiggy. According to a report by The Ken, Flipkart along with Chinese venture capital firm Tencent may invest $ 50 million each in the online food delivery platform. The companies have reportedly been in talks for over a month and are planning to close this $ 100 million deal soon. However, there has been no official confirmation regarding this development.

This news comes at a time when media reports suggest Flipkart initiated investment talks with a bunch of vertical ecommerce startups. Backed by Japan based SoftBank, Flipkart recently received an investment of $ 4 billion, giving the company the chance to broaden its scope of services and offerings. The firm recently also launched the grocery delivery service, Supermart, in Bengaluru to compete against its global rival Amazon. Flipkart also announced in June, they plan to roll out a one stop mobile app to order food, hail a cab, plan a vacation, or buy daily essentials.

Earlier this month, Swiggy was reportedly in talks with foodtech unicorn Zomato for a possible merger. However, Swiggy denied all allegations while sources said the talks were closed due to differences in valuations and business alignments. Since it’s launch in 2014, Swiggy raised close to $ 154.67 million so far and was valued at $ 400 million during its last funding round. The startup was able to compete against foodtech behemoths of that time like Zomato and Foodpanda. Swiggy also claims to complete 400 million orders per month with a total of 78,417 daily orders as of January 2017. With over 20,000 partners, the company also launched its central kitchen programme, Swiggy Access, to allow its restaurant partners to set up kitchen spaces in neighborhoods where they currently do not operate.

An investor close to the development told The Ken, “Flipkart has kapda (clothes with Myntra,) now roti (food with Swiggy,) all it needs is makaan (house) and it will complete the three basic necessities in one app.” The report further added the Flipkart investment will explore synergies to leverage Swiggy’s hyperlocal delivery fleet for Supermart as well.

The entry of global players like UberEATS and Google Aero has made the food delivery industry highly competitive. This potential investment from Flipkart could help Swiggy gain an upper hand to leverage unicorn growth with investors like Tencent on board. Swiggy’s decision might be the tipping point for the $ 2.9 billion online food and services market.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Piyush Anchliya Joins Cashfree Payments as CFO Amid Expansion in India’s Fintech Sector

Published

on

Cashfree Payment - StartupStories

Cashfree Payments has appointed Piyush Anchliya as its new Chief Financial Officer (CFO), effective April 15, 2025. Anchliya brings over 15 years of experience in investment banking, corporate finance, strategy, and mergers and acquisitions, with senior roles at Barclays, Bandhan Group, and most recently as CFO of Bandhan AMC. He holds an MBA from IIM Ahmedabad and a B.Tech. from IIT Kharagpur.

In his new role, Anchliya will lead Cashfree’s financial strategy, optimize operations, and support the company’s next growth phase. He will report to CEO and Co-founder Akash Sinha, who highlighted Anchliya’s expertise as vital for sustainable scaling and strengthening the company’s financial foundation. Anchliya succeeds outgoing CFO Vikas Guru, who will assist during the transition.

Founded in 2015, Cashfree Payments processes over $80 billion annually for more than 800,000 businesses. The company recently raised $53 million in funding led by KRAFTON and Apis Growth Fund II and secured key RBI licenses, positioning it for accelerated growth in India’s fintech sector. Anchliya’s appointment comes at a pivotal time as Cashfree aims to expand its leadership in digital payments.

Continue Reading

Latest News

Flipkart’s Jeyandran Venugopal Likely to Join Reliance Retail as CEO

Published

on

Flipkart - StartupStories

Jeyandran Venugopal, the outgoing Chief Product and Technology Officer of Flipkart, is set to become the CEO of Reliance Retail Ventures (RRV), the retail arm of Reliance Industries. His appointment, expected to be finalized in May after his exit from Flipkart, signals Reliance’s push to strengthen its retail business with a technology-first approach.

Venugopal brings extensive experience from leading roles at Flipkart, Myntra, Yahoo, Snapdeal, and Amazon, where he focused on scaling technology platforms and driving innovation. At Flipkart, he managed product, engineering, data science, and more, helping build robust systems and improve user experience.

His move comes as Reliance Retail undergoes transformation, including cost-cutting and a renewed focus on digital growth. Venugopal’s leadership is expected to accelerate Reliance’s ambitions in omnichannel and tech-driven retail, positioning the company for continued dominance in India’s evolving market.

Continue Reading

Latest News

Delhivery’s Acquisition of Ecom Express: A Major Consolidation in Indian Logistics

Published

on

Delhivery’s Acquisition of Ecom Express: A Major Consolidation in Indian Logistics,Startup News,Startup Stories 2025,Startup Stories India,Startup Latest News,Startup Story,Delhivery,Delhivery’s Acquisition of Ecom Express,Indian Logistics,Stock Market News,Stock Market,Indian Stock Market,Ecom Express,Delhivery Acquires Controlling Stake In Ecom Express,Delhivery's ₹1407-crore Acquisition Of Ecom Express,Ecom Express Acquisition,Delhivery To Acquire Ecom Express,India's Logistics Landscape,Logistics Acquisition,E-commerce Logistics,Indian Logistics Market,Delivery Infrastructure,Logistics Technology,Supply Chain Consolidation,Acquisitions,Stock Market Updates,Business News,Business News Today,Share Market Today,Delhivery Share Price,Delhivery Share,Delhivery Share News,Delhivery IPO,Delhivery Stock News,Delhivery Stock Market,Delhivery New Acquistion

Delhivery, one of India’s leading logistics companies, has announced its acquisition of Ecom Express in an all-cash deal valued at ₹1,407 crore. This strategic move marks one of the largest consolidations in the logistics sector and is expected to enhance Delhivery’s scale, profitability, and operational efficiency.

Background

Ecom Express, founded in 2012 and headquartered in Gurugram, has faced significant financial challenges recently. The company canceled its IPO plans in 2024 and laid off hundreds of employees due to operational setbacks, including losing a major client, Meesho, which shifted to its in-house logistics service Valmo. These struggles led to a distressed sale, with private equity investors like Warburg Pincus and Partners Group exiting their stakes entirely.

Strategic Benefits for Delhivery

  1. Enhanced Scale: The acquisition will strengthen Delhivery’s network reach and infrastructure, enabling better service delivery across India.
  2. Operational Synergies: Combining operations with Ecom Express will improve efficiency and reduce costs through economies of scale.
  3. Competitive Edge: With Ecom Express as a subsidiary, Delhivery solidifies its leadership position in the logistics space by offering broader coverage and faster services.

Challenges Addressed

The acquisition mitigates risks from Ecom Express’ financial struggles while addressing past disputes between the two companies over inflated shipment volumes reported by Ecom Express during IPO filings.

Future Outlook

The deal is expected to close within six months after regulatory approval from the Competition Commission of India (CCI). Post-acquisition, Ecom Express will operate as a subsidiary of Delhivery, unlocking new growth opportunities such as advanced logistics technology integration and expanded customer reach.

With ₹5,488 crore in cash reserves as of September 2024, Delhivery is well-positioned to finance this acquisition without compromising financial stability. This move underscores Delhivery’s commitment to innovation and efficiency in India’s rapidly evolving logistics landscape.

Continue Reading
Advertisement

Recent Posts

Advertisement