Swiggy is going full throttle with new revenue streams on the food delivery side, but will this be enough for its $1Bn+ IPO?
Zomato’s food delivery platform is profitable, thanks to platform fees, and Zepto is on a tear on the quick commerce side after raising $1 Bn this year — but both need to thank Swiggy with at least a hat tip for showing the way.
Swiggy was the first to introduce platform fees in July 2023, and Swiggy Instamart started the quick commerce revolution at the end of 2020. The Bengaluru-based company can take the credit for these two major developments in the Indian consumer internet story.