Writer: Rananjai Pratap Singh
India: the country which is home to many techies in different cities, living away from their families. They are working in extreme conditions, day and night, and encounter one problem in common: food. Specifically homemade food (Ghar ka khana). To tackle this issue, Nandan Reddy, Sriharsha Majety, and Rahul Jaimini came up with a brilliant idea: Swiggy.
The two geeks Nandan Reddy and Sriharsha Majety graduated class of the BITS Pilani, after which they thought of a plan. They produced the delivery management program in 2013 and called it ‘Bundl’, they shut down their start-up in the year June 2014.
While taking a shot at the ‘Bundl‘ they came to know the intensity of the hyperlocal delivery. They did brainstorming to which we can hyperlocal delivery that will make the business and make it helpful for the people. While brainstorming time, they met Rahul Jaimin who is graduated from IIT–Kharagpur. At that moment he was filling in as an engineer in Myntra.
Their start-up made great returns and rolled out a major improvement in the delivery of the food to the clients. They followed some important steps to be a success, Firstly, to deliver the food to the client in time and secondly no minimum order policy. Within 8 months of the start-up, they got funding from 2 ventures ( Accel Partners and SAIF Partners) $ 2 Million, after that rest is the history. Presently, it’s working in the eight urban areas in the nation and making 188866 application downloads (Recent Data 2018)
The growth is 20-25% consistently to month which implies it is growing quickly at a decent speed. Also, 5000 restaurants attached with Swiggy and 3000 delivery boys. The net worth of the company is Rs 3,86,34,590 with a turnover of Rs 7,41,702 (2016). They are accompanying many Gift coupons, and discounts to each customer. The primary quality is the rehashed clients requesting the food normally because of the best help was given by the Swiggy.
COMPETITOR AND MARKET SHARE
In India as of now, there are 65 food tech organizations working in the nation. The primary contenders are Zomato and Food Panda which has good healthy competition among themselves. In India, the food and refreshments industry is strengthening at a decent pace.
Additionally, Tinyowl is another online food ordering stage which is additionally creating in a good phase. Numerous MNC’s are entering in the food startup. Recently Ola and Uber entered the food business. Swiggy is making just about 35-38% of market share in the food order and delivery market. Zomato exists with a 25-30% share.
Google in talks with Dunzo and may enter the Food delivery industry. Buckle up swiggy ! here comes our opponent.