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Food ordering platform Swiggy delivers over 1.5 mn orders in month on cycles

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Swiggy, Uber Eats, Zomato, Online food ordering plaform, Domestic food delivery platform, Cycles, Business news

New Delhi: Domestic online food ordering and delivery platform Swiggy on Saturday said it delivers over 1.5 million orders every month on mechanical cycles. It has a fleet of over 1.7 lakh delivery partners in more than 120 cities.

 

Swiggy, Uber Eats, Zomato, Online food ordering plaform, Domestic food delivery platform, Cycles, Business news

 

“A couple of years back we initiated concerted efforts to make deliveries more sustainable for the environment. With close to 10,000 delivery partners on cycles each day, we have found that in some cities the average travel time for a delivery partner on cycles is lesser than bikes,” Srivats TS, Vice-President, Marketing, Swiggy, said in a statement.

 

Domestic online food delivery platform Swiggy delivers 1.5 mn orders on cycles:

 

“With the future heading towards more eco-friendly modes of transport, cycle and EV logistics will be the next game changer in food-tech and Swiggy wants to be at the forefront of driving that change,” Srivats said.

 

Swiggy, Uber Eats, Zomato, Online food ordering plaform, Domestic food delivery platform, Cycles, Business news

 

Twenty per cent of these Swiggy delivery partners are present in tier 2 and tier 3 cities like Surat, Belgaum, Guwahati and Lucknow, the statement said.

 

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Zomato acquires UberEats India for nearly Rs 2,500 crore

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New Delhi: Zomato on Tuesday announced that it has acquired Uber’s Food Delivery Business in India in an all-stock deal and Uber will have 9.99 per cent stake in the Deepinder Goyal-led food delivery platform.

According to sources close to the deal, it is in the range of over $350 million or nearly Rs 2,500 crore.

Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective from Tuesday.

“We are proud to have pioneered restaurant discovery and to have created a leading food delivery business across more than 500 cities in India. This acquisition significantly strengthens our position in the category,” said Goyal, Founder and CEO, Zomato.

According to company sources, for the first three quarters of 2019, “our Uber Eats business comprised 3 per cent of our global Eats gross bookings, but was more than 25 per cent of our global Eats Segment Adjusted EBITDA losses”.

Uber started its food delivery service in India around mid-2017, but has not been able to scale up in the face of big players like Zomato and Swiggy.

It currently has nearly 26,000 restuarants listed on its platform from over 40 cities.

The market is piping hot as according to a recent study by business consultancy firm Market Research Future, the online food ordering market in India is likely to grow at over 16 per cent annually to touch $17.02 billion by 2023.

Uber CEO Dara Khosrowshahi said that the Uber Eats team in India has achieved an incredible amount over the last two years.

“India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business, which is already the clear category leader,” said Khosrowshahi.

“We have been very impressed by Zomato’s ability to grow rapidly in a capital-efficient manner and we wish them continued success,” he added.

On January 10, Zomato had announced that it has secured $150 million in fresh funding from Ant Financial, a subsidiary of China-based giant Alibaba.

The latest round of funding in Zomato, which currently value the company at $3 billion, is part of $600 million funding round announced by Zomato CEO Goyal at a Delhi event last December.

The deal comes in the wake of merger talks between Zomato and Swiggy, whoch both the companies have denied to date.

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