Food Delivery
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Sovereign investors from Kuwait and Singapore drive Zomato’s stock rally with increased stakes
While Tiger Global, Ant Financial, and SoftBank have divested their holdings in Zomato, large sovereign investors from regions like Kuwait and Singapore have increased...
Paytm se ONDC network onboards popular restos in Bengaluru
Paytm E-commerce Private Limited (PEPL) has onboarded well-known restaurants, including Meghana Foods, Andhra Gunpowder, Leon’s, and Empire Restaurant in Bengaluru, as announced in a...
Zomato’s stock dips 3% following INR 622 Cr block deal transaction
Zomato's stock experienced a nearly 3% decline in early Monday trading, following a block deal involving approximately 4.5 crore shares of the food delivery...
Zomato’s bull run continues as Goldman Sachs and Jefferies raise price targets post HSBC’s lead
Following HSBC, Goldman Sachs and Jefferies have raised their price targets (PTs) for Zomato, a leading foodtech company, due to robust growth in its...
Zomato rolls out ‘daily payouts’ feature, offering enhanced cash flow for emerging restaurants
Zomato, the online food delivery platform, launched a new feature on Wednesday called "daily payouts" to offer support to its emerging restaurant partners.Currently, the...
China’s Meituan grapples with $82 Billion market cap drop as competition heats up and food delivery stalls
Since the beginning of 2023, Meituan, the leading Chinese food delivery platform, has experienced a substantial drop of $82 billion in market capitalization. Investor...
IIT Delhi unveils ‘Work4Food’ initiative to boost gig worker earnings and cut delivery costs
The Indian Institute of Technology (IIT) Delhi has introduced the 'Work4Food' initiative, designed to ensure government-mandated minimum wages for food delivery workers. This innovative...
Swiggy sees another top-level departure as Instamart VP Sidharth Satpathy steps down
In another top-level exit at Swiggy, Sidharth Satpathy, the Vice President of Instamart, a subsidiary owned by the food delivery giant, has resigned from...
Invesco raises Swiggy’s valuation by 9% to $8.5 Billion, marks second consecutive increase
Invesco has increased the valuation of the food and grocery delivery platform Swiggy by approximately 9% to $8.5 billion in its records as of...
Brussels Labour Court rules Deliveroo bicycle couriers as employees, overturning previous self-employed classification
The Brussels Labour Court has mandated that Deliveroo Belgium must recognise its bicycle couriers for food delivery as employees.The verdict overturns the prior court...
Delivery Hero to shut down tech hubs in Turkiye and Taiwan, re-evaluates workforce in Berlin
Germany-based online food delivery company Delivery Hero is set to close its global tech hubs in Turkiye and Taiwan.Additionally, the company is considering reducing...
Jumia redefines strategy by halting food delivery services across Africa
African e-commerce platform Jumia has opted to discontinue its food delivery service, Jumia Food, in Algeria, Ivory Coast, Kenya, Morocco, Nigeria, Tunisia, and Uganda,...