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Tuesday, October 15, 2024

Food Tech

Andhra Pradesh Hotels Association to boycott food delivery apps from October 14

Food Tech
The Andhra Pradesh Hotels Association (APHA) has announced a statewide boycott of food delivery apps starting on October 14. This͏͏ decision͏͏ is͏͏ a͏͏ response͏͏ to͏͏ what͏͏ they͏͏ describe͏͏ as͏͏ unethical͏͏ business͏͏ practices͏͏ that͏͏ are͏͏ significantly͏͏ impacting͏͏...

IPO-bound Swiggy launches 10-minute food delivery service ‘Bolt’

Food Tech
IPO-bound foodtech giant Swiggy has introduced a new service offering quick-to-prepare dishes delivered in 10 minutes. Branded͏͏ as͏͏ Swiggy͏͏ Bolt,͏͏ the͏͏ service͏͏ is͏͏ currently͏͏ active͏͏ in͏͏ six͏͏ cities:͏͏ Bengaluru,͏͏ Hyderabad,͏͏ Mumbai,͏͏ Chennai,͏͏ Delhi,͏͏ and͏͏ Pune. Quick͏͏ Meals͏͏ from͏͏...

IPO-bound Swiggy pilots concierge service targeting premium customer base

Food Tech
IPO-bound Swiggy has reportedly started testing a premium concierge membership, offering subscribers exclusive access to high-end experiences and events not available to the general...

Karnataka CID takes over investigation of Swiggy’s INR 33 Cr embezzlement case

Food Tech
The Karnataka Crime Investigation Department (CID) has taken over the investigation of a complaint filed by IPO-bound Swiggy, involving a former junior employee who...

IPO-bound Swiggy receives shareholders’ approval to increase fresh issue size to INR 5,000 Cr

Food Tech
IPO-bound Swiggy has reportedly gained shareholder approval to increase the size of its fresh issue in its initial public offering to INR 5,000 Cr,...

Zomato expands ESOP pool, allocates 1.2 Cr stock options to employees

Food Tech
Foodtech giant Zomato has increased the size of its employee stock option plan (ESOP) by allocating nearly 1.2 crore stock options to eligible employees. In͏͏...

Invesco raises Swiggy valuation by nearly 25% to $13.3 Bn ahead of IPO

Food Tech
US-based asset manager Invesco has raised the valuation of foodtech giant Swiggy to $13.3 billion,,͏͏ reflecting͏͏ a͏͏ nearly͏͏ 25%͏͏ jump͏͏ from͏͏ the͏͏ investor's͏͏ last͏͏...

BizDateUp co-founders acquire stakes in IPO-bound Swiggy

Food Tech
In a bold move, venture capitalists and co-founders of BizDateup, Jeet Chandan and Meet Jain, have acquired an undisclosed stake in Swiggy, the IPO-bound...

IPO-bound Swiggy facing INR 327 Crore GST demand

Food Tech
Foodtech giant Swiggy faces potential goods and services tax (GST) liabilities totaling INR 326.7 crore, as indicated in its recently submitted updated draft red...

Swiggy’s IPO could net Prosus $500 Mn; founders set to cash out $36 Mn

Food Tech
Swiggy’s largest investor, Prosus, stands to gain over $500 million from the food and grocery delivery firm's upcoming IPO, as it plans to offload...

Zomato’s Co-Founder and CPO Akriti Chopra resigns

Food Tech
Foodtech giant Zomato's co-founder and Chief People Officer (CPO) Akriti Chopra has resigned from the company. In͏͏ an͏͏ exchange͏͏ filing͏͏ with͏͏ the͏͏ BSE,͏͏ the͏͏ foodtech͏͏...

Swiggy’s revenue surpasses INR 10,000 Cr in FY24 as losses nearly halved

Food Tech
IPO-bound Swiggy reduced its losses by 44% for the financial year ending March 31, 2024. The decacorn startup reported a net loss of INR...

Swiggy’s Q1 loss widens 8% YoY to INR 611 Cr, operating revenue jumps 35%

Food Tech
IPO-bound Swiggy reported a consolidated net loss of INR 611 crore in the June quarter of FY25, an increase of over 8% from INR...

Swiggy files updated DRHP with SEBI for INR 3,750 Cr IPO

Food Tech
Foodtech giant Swiggy filed its first updated draft red herring prospectus (DRHP) with SEBI on Thursday, seeking to raise INR 3,750 Cr ($450 Mn)...
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