Maya Robertson
Swiggy is a Bengaluru-headquartered food delivery startup founded in 2014 by Sriharsha Majety, Rahul Jaimini, and Nandan Reddy.
Company Overview
- Founders: Sriharsha Majety, Rahul Jaimini, Nandan Reddy
- Founded Date: 2014
- Headquarter: Bengaluru, India
- Number of Employees: 15,000+
- Crunchbase Profile: Profile Link
- IPO Date: November 13, 2024
Swiggy Revenue Statistics
- (November 14, 2024): Swiggy shares surged nearly 15% in their market debut on Wednesday, defying a broader market downturn and surpassing analysts’ modest expectations for the loss-making food and grocery delivery company following its $1.4 billion IPO.
- Swiggy’s IPO is marking India’s second-largest public offering of 2024.
- According to an analysis by Bernstein analysts, Swiggy holds approximately 45.8% of the Indian food delivery market and recorded a gross merchandise value (GMV) of $2.57 billion in that sector in 2023.
- Swiggy announced on July 13, 2023, that it has entered into a definitive agreement to acquire LYNK Logistics, a retail distribution company. (Reuters)
- Swiggy’s revenue from operations (gross revenue) increased 2.2 times to Rs 5,705 in the fiscal year ended March 2022 compared to Rs 2,547 in FY21.
- In May 2023, Swiggy said its food delivery business had become profitable, eclipsing its public rival Zomato in another key measure.
- In May 2022, Swiggy announced that it is acquiring Dineout, a popular dining out and restaurant tech platform, for $200 million. (Techcrunch)
- In January 2022, Swiggy raised $700 million at a $10.7 billion valuation. (Techcrunch)
- Invesco, the leading investor in Swiggy’s previous funding round, initially valued the startup at under $5.5 billion. However, in a recent disclosure, it was revealed that Invesco subsequently raised Swiggy’s valuation to $7.85 billion by the end of July 2023. (Techcrunch)
| Swiggy Valuation | |
| July 2023 | $7.85 billion |
| 2022 | $10.7 billion |
| 2021 | $5.5 billion |
| 2020 | $4.9 billion |
| 2018 | 3.3 billion |
| 2016 | $123 million |
- Swiggy’s Instamart grocery service is set to reach an annualized gross merchandise value run rate of $1 billion in the next three quarters of 2022.
- Swiggy revenue grew 2.8 times between June 2020 and June 2021, according to investor SoftBank.
- In 2021, Swiggy nearly doubled its food delivery business’ gross order value.
- According to Prosus, Swiggy revenue from food delivery grew by 56% year-on-year in the April-September period in 2021, up 91% from May 2020.
- As of 2022, Swiggy operates in more than 500 cities in India.
Swiggy Usage Statistics
- Based on a recent analysis by Bernstein analysts, Swiggy serves between 16 million to 17 million monthly transacting users and operates with a network of approximately 375,000 delivery personnel.
- As of August 2021, Swiggy has 20 million monthly active users.
- As of August 2021, Swiggy is the second most popular food delivery app in India. (Statista)
- As of January 2022, Swiggy has 185,000 restaurant partners in India.
- On New Year’s Eve 2021, Swiggy delivered 9,049 orders per minute. In 2021, 1.59 million orders were delivered per day on the food delivery platform.
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