Today, we are happy to bring back #IndianStartupData – a series we started last year.
A series that breaks down the #PRshit of companies to actual numbers and importantly, more useful contexts.
To start off, we look at Swiggy data.
Swiggy : A Quick Intro
Swiggy raised $50mn in 2016 ($35mn in Series C and $15mn in Series D). Started in 2013, Swiggy secured its first funding from SAIF Partners in January 2015 followed by a funding round of INR 100 crores in June.
Total funding raised by Swiggy till this date stands at $75.5 mn.
Swiggy recorded massive jump in the revenue from last year! From 11.6 Lakhs in 2014-15, the company recorded revenue of INR 23.59 crores in FY 15-16.
As far as expenses are concerned, it went up 70% to INR 160 crores.
Swiggy Loss : Swiggy recorded a loss of Rs. 137.18 crores, as opposed to 2.12 crores last year.
Swiggy Vs Zomato.
Competitor, Zomato recorded a revenue of Rs. 184.9 crores, against the loss of loss before tax of Rs.492.27 crore in FY15-16.
In order to boost revenues, Swiggy has started charging for deliveries, especially for restaurants who have declined to pay commission to Swiggy.
The biggest threat for Swiggy and the likes is not just Zomato, but the baap of all aggregator – i.e. Google which has started listing restaurant details in search. For Swiggy to continue the run, the company needs to builds ‘predictable experience’ around the service.
After all, pure discovery isn’t enticing enough for restaurants to pay to the aggregators.
How satisfied are you with Swiggy’s services?
Latest news on Swiggy: Myntra Founder Mukesh Bansal Joined Swiggy Board as Strategic Advisor