The quick commerce euphoria has done well to mask the grim reality of the food delivery business, once billed as Zomato’s core value proposition.
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The instant commerce startup has grown too fast and seems to be undergoing chaos of late. Up against several well-funded, entrenched players, it needs to get its house in order.
Chinese giant Meituan has made quite a splash in Saudi Arabia. With its impending launch in the Emirates, it will rival Dubai’s food delivery majors Talabat, Deliveroo, Careem and Noon.
As food delivery plateaus and Instamart bleeds cash, Swiggy is banking on its 10-minute service to revive growth and rewrite its economics.