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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Quick-commerce burn is Swiggy’s Achilles heel. It is unlikely the company can burn its way through to market leadership or defend its share. Unless Blinkit or Zepto make a mistake.
On Wednesday, Swiggy released its December-quarter earnings numbers after market hours. While revenue came mostly in line with the market expectations, losses were worse than anticipated. The food delivery and quick-commerce company reported a consolidated net loss of Rs 799 crore, up 28% sequentially and around 39% from last year. It clocked a revenue from operations of Rs 3,993 crore, up 11% from the September quarter and 31% from the year-ago period.
What did not come as a surprise was the performance of Swiggy’s food delivery business. The company reported adjusted revenue of Rs 1,860 crore in the core food …
India’s grocery and food delivery platforms are increasingly displaying misleading images of food using artificial intelligence, defeating the very purpose of buying online.
The Walmart-owned e-commerce company has entered microdramas and food delivery. Is it thinking long-term or just chasing a trend?
The quick-commerce startup weighs a valuation cut or finding alternative funding to stay afloat as investor appetite for loss-making businesses weakens.
