Swiggy stands strong despite new platform fee, sees no negative impact

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August 26, 2023

Swiggy, a prominent player in the food delivery industry, has experienced no negative consequences following its recent choice to implement a platform fee for its users. The company remains confident that the demand for food delivery and dining services has not waned, despite prevailing macroeconomic conditions.

Rohit Kapoor, CEO of Swiggy’s food business, said, “The platform fee is a standard feature across consumer tech categories like ticket booking etc., and we have not seen any impact of it.”

In April, the food delivery platform introduced a ‘platform fee’ of INR 2 per order for all users, regardless of the value of their cart.

In March, Swiggy revealed that its food delivery segment achieved profitability by March 2023, factoring in all corporate expenses except for employee stock option costs. The company’s executive emphasized their command over the profit and loss statement and their ability to judiciously allocate investments to strategically viable areas.

Swiggy is betting heavily on AI, having established a dedicated team to spearhead its AI strategy. This strategic move has already resulted in the integration of AI across several key aspects of their platform. For instance, AI is being used to provide personalized restaurant recommendations to users and to assist them in making cuisine choices. Furthermore, Swiggy has implemented AI in enhancing customer service interactions and touchpoints.

Also Read: Swiggy employs generative AI to elevate user and restaurant experiences

Notably, Swiggy’s acquisition of DineOut last year has paved the way for them to experiment with restaurant reservations directly through the Swiggy app in specific markets. This trial phase is a precursor to a wider rollout. Beyond this, the company is actively engaged in enhancing the app’s user experience by introducing additional layers of social engagement, as highlighted by Kapoor. This comprehensive approach underscores Swiggy’s commitment to leveraging AI and innovation to enrich their service offerings.

Between June 2022 and 2023, the entire food marketplace has observed a year-on-year growth ranging from 15 percent to 30 percent. During this period, Swiggy expanded its presence to encompass nearly 600 cities and towns. Despite the food tech market being primarily controlled by two key players, Swiggy remains unperturbed by the emergence of newcomers such as the ONDC (Open Network for Digital Commerce).

“We don’t see it [the food delivery market] as a duopoly…Our job is to show up and do our best,” says Kapoor. “Today, a Swiggy One user spends 4x more on the app; renewals too are strong,” he adds.

Samsung unveils AI-driven food platform, redefining home cooking experience

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August 26, 2023

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Samsung Electronics Co. has introduced Samsung Food, a comprehensive food platform that provides a tailored dining encounter and links seamlessly with the corporation’s adaptable range of Bespoke kitchen appliances driven by artificial intelligence (AI).

On Thursday, the prominent electronics company conducted a presentation in Seoul to introduce its upcoming platform. The official launch of this platform is scheduled for the next month at IFA, the largest trade show for consumer electronics in Europe, taking place in Berlin, Germany, from September 1 to 6.

Samsung Food serves as a comprehensive solution for complete dietary supervision, encompassing a variety of functions. These include exploring recipes from a pool of approximately 160,000 options, devising meal schedules, overseeing ingredients, preparing meals, and exchanging culinary content. Utilizing AI, the platform additionally crafts personalized recipes according to individual preferences and desired nutritional equilibrium. For instance, it can transform a meat-based recipe into a vegan dish by intelligently omitting the meat components while retaining the essence of the recipe.

The specific cooking parameters of a tailored recipe are directly transmitted to a Bespoke oven, eliminating the necessity for users to manually configure cooking temperatures or durations. Beginning with these ovens, Samsung Electronics intends to extend the connectivity of Samsung Food to encompass its array of kitchen appliances, including Bespoke induction cooktops and microwave ovens, by the conclusion of the current year.

By means of the community feature, which permits users to exchange their recipes with fellow users, the objective is to amass a user base exceeding one million active participants within the current year.

Pepsi to roll out exciting new branding and celebratory campaign for 125th anniversary bash!

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August 26, 2023

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As part of its 125th-anniversary festivities, the major soft drink company Pepsi will introduce its fresh logo and updated visual identity.

In honor of the brand’s official birthday on August 28th, the company will be providing complimentary Pepsi to individuals throughout the United States.

As part of the festivities, the company also mentioned that they will be unveiling new commercials showcasing the updated brand design.

Starting from August 28, 2023, the prominent cola company has revealed plans for a 125-day campaign that will extend until New Year’s Eve. This campaign will feature the introduction of 125 varieties of programming, including immersive events, moments of social content, and various giveaways.

Todd Kaplan, chief marketing officer of, Pepsi said, “Pepsi has become an iconic brand over the past 125 years with a rich legacy of challenging the status quo in pursuit of enjoyment – both in the beverage industry and pop culture at large.

“As we celebrate the brand’s historic milestone over the next 125 days, we will honour some of our most cherished cultural moments as we look ahead towards our next chapter with the rollout of the new Pepsi logo and visual identity.”

Between October 19th and 15th, Pepsi is set to provide an immersive dining experience at The Pepsi 125 Diner located in New York City.

The ambiance will replicate iconic settings from several memorable Pepsi commercials, adorned with artifacts sourced from the Pepsi archives. Simultaneously, it will serve as a tribute to the brand’s refreshed aesthetics and atmosphere.

Within the food menu, you can expect to find classic diner fare as well as innovative Pepsi-inspired dishes, both old and newly crafted.

Kaplan added, “The Pepsi 125 Diner will bring the best of Pepsi all together under one roof – from some of our favourite advertisements to our biggest music moments to our rarest product experiences, and so much more – it will truly be a one-of-a-kind immersive experience unlike anything else.”

Third Wave Coffee expands its footprint in Mumbai with a new café in Chembur

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August 26, 2023

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Third Wave Coffee (TWC) has inaugurated its 19th coffee shop in Chembur, Mumbai, marking a significant step forward. With the unveiling of this new location, the Third Wave franchise aspires to revolutionize the traditional café experience, bringing an infusion of delight to the discerning palates of both coffee aficionados and food enthusiasts.

The selection of this location was influenced by the vibrant atmosphere and abundant culinary variety found in the area.

Varun Kapoor, Director of Operations, TWC, said, “This café is located in a premium neighbourhood in Chembur, one of the largest suburbs of Mumbai. It is a corner store with great visibility through an open façade, offering a large number of seating options indoors or outdoors.”

Blending modern aesthetics with timeless charm, the interior design of the café envelops visitors in an ambiance that perfectly encapsulates the spirit of Third Wave Coffee.

“Furthermore, we have plans to initiate sip & paint gatherings and coffee brewing workshops for our patrons, activities that are regularly organized across all our branches,” Varun said.

Tim Hortons plans major expansion along Indian highways, aims to open 120 stores by 2026

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August 26, 2023

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Capitalizing on the increased demand from Indian consumers, the Canadian coffee brand Tim Hortons is set to enhance its footprint along highways across various cities in India.

The brand started with its first outlet in Delhi and celebrated its one-year anniversary in the country this August. Extending its presence to 8 cities, it has successfully set up 17 outlets across the nation. Looking ahead, the brand is now focused on expanding its reach to city highways connecting Mumbai – Pune and Chandigarh, aiming to establish a stronger foothold in these key travel routes.

Tarun Jain, CEO, of Tim Hortons India, said, “The one-year journey has been remarkable in terms of discovery, We have been able to learn from the market, and adapt the offerings of the market and not just geographies but also through channels including high streets and malls. We opened our first airport store in Delhi which is getting a good response. We have been able to deliver consistently the Tim Hortons experience while keeping the core of the brand intact and are also developing local products as per the consumer demand. One has to understand the market before entering and we are now going into multiple cities and geographies which is exciting.”

The company has expressed its intention to launch 120 stores across various locations in India by the year 2026.

“We will open in Bangalore soon. We do geographies and look at traction and momentum when we enter a market. When we entered Mumbai, we could go into some neighbouring clusters like Pune, when in Delhi going to Noida and Gurgaon these are natural extensions. This is the strategy we want to take and once you get into a cluster you explore all channels. In Mumbai, the Mumbai – Pune expressway becomes a natural extension,” said Tarun Jain.

The brand, which features items like pinwheel samosa, baida roti cigar rolls, and chicken makhani ravioli pasta on its menu, highlights that Indian consumers have a preference for local cuisine.

“Our experience is that Indian consumers want the same authentic core products from the brand but they are willing to experiment on the food side. They are more comfortable with the local cuisine. The other aspect is to experiment and reinvent what is offered on the menu,” added Jain.

Mars Inc bolsters up pet food production with INR 800 Crore investment in Telangana

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August 26, 2023

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Mars Inc, a worldwide producer of confectionery, pet food, and various other food items, has declared an investment of INR 800 crore to initiate the second phase of expansion for its facility located in Telangana.

Mars Petcare, the segment dedicated to pet food and pet healthcare under Mars Inc, operates a facility in the Siddipet district. This plant, established with a fixed capital investment of INR 200 crore, produces renowned pet food brands like Pedigree and Whiskers.

As per an official statement, this recent declaration increases Mars Inc’s cumulative fixed capital investment in the state from INR 200 crore to INR 1,500 crore. A delegation from the Telangana State, headed by Industries Minister K T Rama Rao, held a meeting with Sekhar Krishnamoorthy, the Chief Data and Analytics Officer for Pet Nutrition at Mars Inc in New York, as mentioned in the release.

Global pet food major Mars Inc to commence phase-II expansion in Telangana with an investment of Rs. 800 Crores.

Mars Petcare has a plant with fixed capital investment of Rs 200 Crores in Siddipet district where they manufacture pet food under well-known brands such as Pedigree… pic.twitter.com/DCjXQXFb3R
— Minister for IT, Industries, MA & UD, Telangana (@MinisterKTR) August 25, 2023

Considering the swift expansion of the pet food market in India, Mars has indicated their intention to initiate the second phase of expansion for their Siddipet plant.

The Telangana government and Mars Inc have reached a mutual agreement to form a wide-ranging partnership aimed at introducing endeavors to enhance pet care and pet nutrition within the nation. The discussion during the meeting also encompassed potential collaborations, including the establishment of an extensive foundation for Mars Inc in fields like Research and Development, digital transformation, agricultural supply chains, innovation, and sustainability.

A separate release said Omnicom Group, a renowned global media, marketing, and communications company, will be setting up a large Global Capability Centre here, which would create over 2,500 new employment opportunities. The release said Rama Rao and his delegation met with Omnicom’s leadership team at New York on Thursday, it further said.

Instacart’s revenue soars by 31% as it prepares for highly anticipated IPO

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August 26, 2023

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On Friday, Instacart, the grocery delivery app, announced a significant 31% increase in revenue for the initial half of this year. Simultaneously, the company disclosed its submission for an initial public offering (IPO) on the New York Stock Exchange. This move sets the scene for one of the most eagerly awaited stock market debuts in recent times.

The development comes after a span of 15 months since Instacart discreetly lodged its IPO documents, a customary precursor to an imminent listing.

The company headquartered in San Francisco had initially intended to go public in the last quarter of the previous year. However, it postponed its intentions due to a technology stock downturn and the consistent interest rate increases by the U.S. Federal Reserve, which caused a significant decline in the equity market.

Providing a comprehensive insight into its financial performance, Instacart revealed that its revenue experienced a notable 31% upswing, reaching $1.48 billion during the six-month period concluding on June 30th.

The company’s ability to generate profits could also enhance its appeal to discerning IPO investors. Since the previous year, these investors have shown a preference for companies that are profitable, as opposed to ambitious yet unprofitable startups.

In the span of six months, the company recorded a net income of $242 million, a significant turnaround from the $74 million loss reported in the corresponding period of the previous year.

The upcoming initial public offerings of both Instacart and Arm, a chip designer backed by SoftBank Group, are anticipated to inject new life into the U.S. IPO market. This market has shown signs of recovery in the current year following a lackluster performance in 2022. Investors are optimistic that the Federal Reserve’s guidance could steer the economy toward a stable and controlled slowdown, fostering renewed confidence in IPOs.

Data from Dealogic reveals that, excluding special purpose acquisition companies (SPACs), a total of $10.3 billion has been raised through 77 IPOs in the current year. This amount is almost twice the sum raised during the corresponding period in 2022.

“I think we’re going to see more companies kick off their (IPO) process in 2024, which is when a healthy IPO market will return,” said Mike Bellin, IPO services leader at PricewaterhouseCoopers U.S.

Instacart has stated that Goldman Sachs and J.P. Morgan will serve as the primary underwriters for the offering. Additionally, the company mentioned that its shares are set to be listed on the Nasdaq stock exchange, using the symbol “CART.”

Instacart’s challenging journey toward a Nasdaq listing included reports of the company reducing its internal valuation to potentially as low as $10 billion by December 2022. This marked a significant 74% decrease from its previous funding round over two years ago, which had valued the company at $39 billion.

As per a report, the company increased its valuation by 18% in April.

Sources previously informed Reuters that Instacart had contemplated a direct listing. In contrast to an IPO, a direct listing involves no advance sale of shares, enabling investors to directly offer their shares to the public.

In March 2021, the company appointed Frank Slootman, CEO of Snowflake and an experienced figure in the software industry who has been involved in significant IPOs, to its board.

Established in 2012, Instacart is helmed by Fidji Simo, formerly in charge of the Facebook app.

Under the name it was incorporated as, “Maplebear,” the company submitted its IPO filing.

Swiggy expands services: Table reservation feature to roll out in key Indian locations

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August 26, 2023

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Soon, the Swiggy app will introduce the convenience of reserving tables at restaurants. Under the ongoing pilot program, customers across Chennai, Ahmedabad, Jaipur, and Pune can enjoy the privilege of booking tables at approximately 200 restaurants, as revealed by Rohit Kapoor, CEO of Swiggy’s Food Marketplace division.

According to him, the largest platform within Swiggy is the Food Marketplace, which is followed by Instamart for groceries, Dineout, and Genie.

“As a leader in the dining out space, the table reservation feature on Swiggy Dineout is a long-standing ask from customers,” he said.

The acquisition of Dineout in the previous year has emerged as a crucial step for Swiggy. Through this integration, Swiggy has successfully addressed both food delivery and dining-out requirements, leading to a network of more than 21,000 restaurant partners across 34 cities, he explained.

“Recently, food delivery business turned profitable (as of March) within nine years, making it a global milestone in the industry,” said Kapoor who joined Swiggy a year ago.

According to Kapoor, over the past year, approximately one lakh restaurants throughout India have become part of Swiggy’s ecosystem. This surge has elevated the total count of restaurants on the platform to 2.80 lakhs, with more than 1,20,000 being classified as small and medium-sized establishments.

“We strongly believe it is still very early days in India’s journey of eating out and food delivery, and are very sanguine about the growth potential over the next two decades. We will continue to make responsible and measured interventions to fuel further growth in food delivery,” he said.

Swiggy resumes IPO plans, aims for stock exchange presence by 2024

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August 26, 2023

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Food and grocery delivery firm Swiggy is reportedly back on track with its initial public offering (IPO) plans, as stated by a recent Reuters report. Following a pause earlier this year due to subdued market sentiment, the company is now aiming to have its presence on Indian stock exchanges established between July and September 2024.

Having secured $700 million in its latest funding round, the Bengaluru-based startup, which attained a valuation of $10.7 billion, has commenced discussions with financial experts to evaluate its worth, as per the mentioned report.

The company is utilizing its previous funding round’s valuation of $10.7 billion as a reference point for shaping its IPO strategy. However, the specifics of the potential stake sale or ultimate valuation are yet to be determined, the report further highlighted.

At the time of publishing this article, there was no response from Swiggy to the inquiries.

The company has reportedly reached out to eight investment banks, including Morgan Stanley, JP Morgan, and Bank of America, with a request to deliver presentations in early September. These presentations aim to consider their participation in managing the IPO process.

The food delivery firm, originally slated to go public in September 2023 as indicated by media sources, decided to delay this plan due to the volatile macroeconomic circumstances. Additionally, the company augmented its board by appointing three new independent directors in preparation for the intended public listing.

Following the attainment of profitability in its food delivery operations in March, Swiggy’s Co-Founder and CEO, Sriharsha Majety, remarked that the company has joined the ranks of the exceedingly rare global food delivery platforms that have achieved profitability in under nine years since their establishment.

However, in the past few months, Swiggy has encountered several instances of valuation markdowns due to fluctuations in the market.

One of Swiggy’s major investors, Invesco, reduced the value of its stake in the food delivery company to $5.5 billion. Additionally, Baron Capital decreased the valuation by 10% in May.

Also Read: Swiggy faces another valuation setback as Baron Capital revises fair value to $6.5 Billion, second downgrade in a few months

How Medusa Beverage is Winning Indian Millennials with Its Unique Brew and Experience

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August 26, 2023

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In the dynamic landscape of emerging brands, one name stands out as a beacon of competitiveness, passion, and elegance – Medusa Beverage. Since its inception in 2018, this India-based beer company has swiftly risen to prominence, captivating the discerning palates of millennial consumers in the Indian market. A journey into the heart of the Medusa brand reveals a story that combines astute market understanding, a commitment to culture, and an unwavering dedication to excellence.

At the core of Medusa’s success lies a keen understanding of market demands. The brand emerged as a response to the call for unique tastes and flavors by Indian millennials. However, Medusa goes beyond being a mere beverage provider; it positions itself as a curator of experiences tailored to a generation that thrives on innovation.

Bridging Tradition and Modernity:

One of Medusa’s distinguishing features is its ability to seamlessly bridge the gap between tradition and modernity. Recognizing that beer is not just a drink but a passion and lifestyle choice deeply rooted in culture, the brand has strategically positioned itself as a custodian of this legacy. This ethos drives Medusa’s commitment to preserving the cultural significance of beer while infusing it with a contemporary twist.

Years of meticulous craftsmanship have resulted in a brew that embodies excellence. The careful combination of the finest barley malt and imported hops from Germany yields a harmonious blend with an alcohol strength of 5.9%. Every sip of Medusa beer becomes a symphony of flavor and quality, a testament to the brand’s dedication to its craft.

The Medusa logo draws inspiration from the eponymous character in Greek mythology. Like the cursed maiden who underwent a transformative journey, Medusa, too, embraces transformation and duality. Its business philosophy mirrors the millennial spirit – a fusion of passion, devotion, and unwavering commitment to delivering the best.

Founder’s Odyssey of Innovation:

The story of Medusa Beverage is intertwined with the journey of its Founder, Avneet Singh. Just a year shy of completing his architecture studies, Avneet embarked on a journey of entrepreneurship, leaving academia behind. In 2017, his vision took tangible form in the brewing business, giving birth to Medusa Beverages Pvt. Ltd. His audacious leap exemplifies the millennial tenacity to pursue dreams without fear.

**Avneet Singh, Founder, Medusa Beverages**

Where History Meets Modernity:

Medusa Beverage strives to encapsulate the essence of old-world flavors with a contemporary twist. The brand artfully infuses its brews with invigorating flavors rooted in Greek mythology, offering the perfect companions for any occasion. Medusa’s identity revolves around fostering a lifestyle that values the perfect brew, places a premium on quality, and promises unforgettable experiences.

Today, Medusa beer is available in about 650 retail outlets in Delhi and high-end cafes, boasting a distribution width of 90%. Its presence has grown even more widespread, currently reaching over 2000 retail outlets, with the brewery located in Punjab. Expanding its horizons, the brand has recently introduced Medusa beer in Himachal Pradesh, making its mark in popular destinations like Shimla, McLeodganj, and Manali.

The journey of Medusa Beverage from a mere idea to an emerging brand is a tapestry woven from culinary exploration, the millennial spirit, and an unwavering commitment to excellence. Through its unique positioning, strategic innovations, and infusion of culture, Medusa strikes a delicate balance between tradition and modernity. As the brand proudly proclaims, it’s all about elevating spirits with a Medusa brew – a tribute to a journey driven by passion that continues to tantalize palates and capture hearts. In a world where innovation is the currency, Medusa Beverage has truly carved its mark as a timeless contender.

Also Read: Medusa Beverages marks five-year milestone with record-breaking sales and revenue

NewsHub

Swiggy stands strong despite new platform fee, sees no negative impact

Samsung unveils AI-driven food platform, redefining home cooking experience

Pepsi to roll out exciting new branding and celebratory campaign for 125th anniversary bash!

Third Wave Coffee expands its footprint in Mumbai with a new café in Chembur

Tim Hortons plans major expansion along Indian highways, aims to open 120 stores by 2026

Mars Inc bolsters up pet food production with INR 800 Crore investment in Telangana

Instacart’s revenue soars by 31% as it prepares for highly anticipated IPO

Swiggy expands services: Table reservation feature to roll out in key Indian locations

Swiggy resumes IPO plans, aims for stock exchange presence by 2024

How Medusa Beverage is Winning Indian Millennials with Its Unique Brew and Experience

Bridging Tradition and Modernity:

Founder’s Odyssey of Innovation:

Where History Meets Modernity:

Watch our exclusive conversation with Avneet Singh here: