Foodtech giant Swiggy has introduced Swiggy Scenes, a new feature on its app, in what appears to be an attempt to strengthen its events and ticketing play. The new option, which was introduced under Swiggy's "Dineout" offering, enables customers to reserve events, parties, and live music
HDFC Securities, a broking firm, downgraded Swiggy from "add" to "reduce"; however, it raised its target price from INR 430 per share to INR 470. This would indicate a 9.2% decline from the stock's last closing price. Swiggy's stock closed on
The Foodie Bay Employees ESOP Trust, an employee welfare trust established by the foodtech company, has received 47.75 Cr equity shares from Zomato under various employee stock option programmes (ESOPs). The Deepinder Goyal-led firm announced in an exchange statement on December 2, that its board had authorised the issuance
📄Company Profiles
There were days when we used to call different restaurants to place orders and again call up for corrections, directions, and reservations. Then came applications like Zomato, which reversed the whole scenario and made it extremely simple for consumers. Deepinder Goyal and Pankaj Chaddah founded Zomato in 2008, which eased
Hyperpure, Zomato's B2B supply division, has introduced the "Express" delivery service in response to the growing demand for speedy deliveries. The express delivery service will be accessible from 8 AM to 4 PM, according to the Hyperpure app. It will cost INR 99 and be available
On November 25, Zomato Ltd., a food delivery aggregator, launched its INR 8,500 Qualified Institutions Placement (QIP) offering. The floor price for each equity share was INR 265.91. The indicative price is INR 252.62 per share, which is 7.6% less than the closing market price of
Zomato revealed in its qualified institutional placement (QIP) documentation that its founder and CEO, Deepinder Goyal, has chosen to put his salary on hold for an extra two years, until March 31, 2026. The food delivery giant's FY24 annual report stated that Goyal has previously waived his pay
A month after receiving board permission, foodtech giant Zomato has received shareholder approval to raise INR 8,500 Cr (about $1 billion) through a qualified institutional placement (QIP). The resolution was approved by about 99.79% of the shareholders. This follows the company's announcement last month of a
Zomato CEO Deepinder Goyal reacted to social media on 21 November to clarify that charging people INR 20 lakh was never part of the strategy, and he hoped that 'paying the company to get a job' would not become the standard. This came a day after Goyal posted
Zomato, a prominent player in the foodtech industry, has cracked the whip and delisted several "potentially fraudulent" restaurants after consumers reported several single-dish restaurants on the platform. "We have removed all of these eateries from our site after identifying them as possibly fake. We have also looked
Deepinder Goyal, the CEO and co-founder of Zomato, posted an odd job opening on his social media pages on November 20. Goyal stated in his posts that he is seeking a chief of staff who will be required to pay INR 20 lakh instead of receiving a salary for the
👨💻StartupTalkers
The food delivery segment in India has witnessed an unprecedented surge. Late-night cravings, urgent home delivery, etc., have now become the norm. Despite being a huge potential market in India at present, only 2-3 brands dominate this industry, and Zomato is one of them. Zomato is an Indian restaurant aggregator