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SoftBank To Invest $200 Million In Swiggy!

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SoftBank To Invest In Swiggy,Startup Stories,2017 Business News Update,SoftBank and Swiggy Business Updates,SoftBank Business News,Food Delivery Platform Swiggy,Foodtech Startup Swiggy,SoftBank Invest Money in Swiggy,Food Delivery Startup Swiggy Business

After establishing a stronghold in the Indian ecommerce and the cab aggregator space, Japanese conglomerate SoftBank is gearing to invest between $ 200 million to $ 250 million in foodtech startup, Swiggy. With this move, SoftBank joins Flipkart and China based Tencent, in their investment bid.

Founded in 2014 by Sriharsha Majety, Nandan Reddy and Rahul Jaimini, Swiggy is currently active in over ten cities across the country and is partnered with over 20,000 restaurants. Swiggy reported a profit of over $ 3.6 million (Rs. 23.6 crores) for the last fiscal quarter.

According to reports, SoftBank is looking for minority shares in Swiggy in exchange for the $ 200 million to $ 250 million investment. If successful, this investment would likely take place at a pre money valuation of $ 600 million to $ 650 million.

From its inception, Swiggy raised about $154.67 million through three major rounds of investments. A spokesperson for Swiggy stated, “Swiggy garners continuous interest from investors due to our market leadership position, strong growth and financial performance. We remain focused on delivering exceptional value to consumers, and will comment on fundraises at the opportune time.

If SoftBank goes through with the move, Swiggy and Zomato will be at loggerheads. SoftBank declined to comment and is suspiciously quiet about the issue. To stay one step ahead of the game, Swiggy launched a new Cloud Kitchen initiative to provide users with Pan Asian, Continental and Indian cuisines. With its cloud kitchen initiative called Swiggy Access, the company aims to reduce the delivery time, allow restaurants to increase their franchises and provide users with a wide array of options.

This move was made in an attempt to squash rival, Zomato’s dominance of the foodtech industry. With constant modifications and new launches, Swiggy has been working to provide maximum customer satisfaction. The company claims to complete over 400 million orders every month and claims to have completed close to 78,417 orders daily as of January 2017. This online food and services market is estimated to be worth $ 2.9 million. Through this investment round, Swiggy aims at surpassing its rival and setting itself as the most reliable and noteworthy food delivery platform.

 

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Unilever Introduces Innovative Color-Changing ‘Smart Label’ for Dove

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Dove_StartupStories

Unilever has launched a new innovation in personal care with the introduction of a color-changing “smart label” for its Dove Shower Sensor Deep Moisture Body Wash. This limited-edition product, available exclusively in Canada, integrates advanced packaging technology to promote healthier skin habits.

How It Works

The smart label activates when exposed to water temperatures above 41°C, displaying a “VERY HOT” warning. This feature encourages users to lower their shower temperature, helping to preserve the skin’s natural moisture—especially crucial during Canada’s cold winter months1.

A Step Towards Smarter Personal Care

This innovation reflects Unilever’s dedication to combining technology with personal care. Divya Singh, head of personal care at Unilever Canada, highlighted the product’s role in fostering better skin health through intuitive reminders. Singh stated that the sensor supports hydration and empowers consumers to maintain healthier habits confidently1.

Broader Implications

The smart label is part of a larger trend in packaging innovation, offering functionality beyond traditional use. Such advancements not only enhance user experience but also align with Unilever’s commitment to sustainability and digital transformation13.

This launch underscores Unilever’s focus on enhancing everyday products with technology while promoting skin health and environmental consciousness.

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Quick Commerce Set to Boost HUL’s Revenue

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StartupStories

Unilever’s CEO, Fernando Fernandez, is optimistic about quick commerce’s growth in India, predicting it will significantly boost Hindustan Unilever Ltd’s (HUL) revenue. Currently, quick commerce accounts for about 2% of HUL’s revenue, but Fernandez expects this to rise to 10-15% within the next three to four years.

Why Quick Commerce?

India’s unique demographic, with affluent and economically active households living in close proximity, makes quick commerce a logical and profitable channel. The margin mix in quick commerce is also favorable for improving profitability12.

Market Trends

Quick commerce is rapidly expanding in India, with its contribution to ecommerce sales doubling annually. Major players like Blinkit, Swiggy Instamart, and Zepto are driving this growth, driven by consumer preference for convenience over discounts13.

Future Outlook

Fernandez’s strategy aligns with Unilever’s goal to transform its business and meet evolving consumer preferences. Leveraging quick commerce will be key to enhancing HUL’s revenue in India, a crucial market for Unilever

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Social Media Platform X Faces Global Outage

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Social Media Platform X Faces Global Outage

Elon Musk’s social media platform X, formerly known as Twitter, experienced a significant global outage on Monday. The disruption began around 3:20 PM IST, with over 19,000 reports of issues globally, according to Downdetector.

Impact by Region

  • United States: Over 21,000 users reported issues, primarily with the app.
  • United Kingdom: More than 10,800 incidents were recorded.
  • India: Nearly 2,300 users faced difficulties, though some reports suggest around 1,000 complaints, mainly with the search bar.

Nature of the Outage

The outage affected both web and mobile app versions, preventing users from accessing timelines or posting content. The cause remains unclear, as X has not issued an official statement.

Resolution

Services resumed after about 30-40 minutes, but concerns about the platform’s reliability have increased due to its recent technical issues

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