The telecom company Jio has launched a new prepaid package called the Jio-Swiggy Festive prepaid plan. This plan entitles Jio users to a complimentary three-month subscription of Swiggy One Lite upon recharging their accounts.
Read More: Swiggy to partner with banking and telecom firms for integrated subscription plans
“With this recharge, Jio prepaid customers can enjoy seamless connectivity and have great time with friends and family using Swiggy’s on-demand free delivery benefits across food, grocery and other categories,” Jio said in a statement.
Last month, Swiggy unveiled Swiggy One Lite, an affordable alternative to its subscription service, Swiggy One. Swiggy One Lite provides perks like free deliveries, exclusive deals, and discounts, all for an introductory price of INR 99 for a three-month period.
Read More: Swiggy competes with Zomato Gold with its new affordable Swiggy One Lite subscription plan
With the Swiggy One Lite subscription, patrons can enjoy up to 10 free home deliveries (for food orders over INR 149) and 10 complimentary Instamart deliveries (for orders exceeding INR 199). Additionally, customers won’t incur any surge fees for these deliveries.
Although alliances between telecom providers and content platforms are standard, this particular partnership between a telecom company and a food delivery service marks a new precedent.
This latest collaboration as part of the larger Swiggy One initiative is anticipated to bolster the foodtech giant’s platform monetization, particularly in light of Swiggy’s competition with Zomato in the Indian food delivery market.
Last week saw Zomato reporting its second consecutive profitable quarter, showing a net profit of INR 36 Cr. Meanwhile, Swiggy, yet to reveal its financial statements for FY23, disclosed a loss of INR 3,628.9 Cr in FY22.
Read More: Zomato achieves new 52-week high at INR 123.9 following strong Q2 performance
Earlier this year, Sriharsha Majety, the CEO of Swiggy, announced that the company’s food delivery division had become profitable, excluding the consideration of ESOP costs, by March 2023.
Read More: Swiggy’s strategic initiatives pay off as food delivery business turns profitable
In the midst of these developments, there are reports suggesting that Swiggy is considering going public next year.
Read More: Swiggy resumes IPO plans, aims for stock exchange presence by 2024
Also Read: Swiggy lays groundwork for mega IPO launch; taps top banks for key advisory roles