Swiggy is a leading food ordering and delivery service company in India. The company started in 2014 and is headquartered in Bengaluru, India. Swiggy is a web and mobile-based application based company that allows users to order food from restaurants and get delivery services. The company was inspired by the thought of providing full fleshed food services from food ordering to delivering of food from the desired restaurant in the urban society. It is connected to different kinds of restaurants, through which the customers can order the food. Also, the most special feature provided by swiggy is that it does not have minimum order policy on any restaurant and it accepts online payments as well. So, the person can order from a single dish to variety of dishes. Its delivery team ensures fastest delivery that the customers must get food at minimum time. The startup was started in August, 2014 and now the value of the company has reached more than billions.
Swiggy Founder Success story
The company, Swiggy initially started from 5 Delivery Boys and now has employed more than 20 thousand Delivery executives.
Swiggy’s CEO and Co-founder, Sriharsha Majety, started the company with a vision that in the coming time his company would change the scenario of food practices in India. Swiggy works with small food joints as well as large restaurants chains.
Swiggyacts as a bridge between customers and restaurants. It utilizes an innovative technology platform that allows customers to order food from nearby restaurants and get it delivered at their doorstep. With Swiggy, customers do not have to keep the contact numbers of various restaurants and food joints in their locality. Thus, Swiggy works as a single point of contact for ordering food from nearby restaurants. Swiggy has its own team of delivery personnel’s who picks orders from restaurants and deliver it at the customer’s doorstep. This process has made it easier for the customers to get food anytime and anywhere. Both the Restaurants and Swiggy is benefitted from this process.
Swiggy was founded by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini. Sriharsha Majety is an alumnus of Indian Institute of Management, Calcutta and & BITS Pilani . He currently serves as the Chief Executive Officer (CEO) at Swiggy. Co-founder, Nandan Reddy has done MSc Physics (Hons.) from Birla Institute of Technology and Science and he heads operations at Swiggy. Earlier he had worked with other companies such as Galla, Zurna, IDinsight, Intellecap. Third Co-founder of Swiggy, Rahul Jaimini is an alumnus of Indian Institute of Technology, Kharagpur and he is the Chief Technical Officer at Swiggy. Before Swiggy, he has worked with Myntra and NetApp. In 2014, both the alumnus of Swiggy, Nandan Reddy and Sriharsha Majety started their first startup, Bundl.
Bundl was a logistics Aggregator company which connected small and medium companies to courier service providers. However, soon after a year into Bundl, the CEO’s realized their focus needs to change from the courier service to food industry in India.
Journey of Swiggy
When it comes to food and ordering food, India is a young country with a lot of undiscovered potential. Food is what they thought of after having enough inconveniences of ordering food for themselves. A more profound look and they understood that the section needs to be sorted out and took it on themselves. As at that point of time, the food industry in India was not much developed. They wanted to change the scenario of Indian food industry and wanted it to develop in other aspects.
The three of the Co-founders started Swiggy in 2014 with a head office in Koramangala, Bangalore. The company was initially started up with 25 restaurants and five delivery personnel’s. Restaurants were signed up, a delivery boys (full-time and part-time) were hired, customer using iOS and Android app and website were designed, all these were put together to make Swiggy a huge success. Through which the customers can order the food and get it at their doorstep within few minutes. Soon after the company got popular among users through online and offline promotions.
Swiggy has received huge investments worth 155.5 million USD via six rounds of funding from Investors such as SAIF Partners, Harmony Partners, Naspers, Norwest Venture Partners, Bessemer Venture Partners, and Accel Partners etc.
Swiggy is a customer centric company which provides an online platform entirely dedicated to improving the process and experience of food order and delivery.
Since its commencement, Swiggy has quickly developed to become a leader in the Indian food delivery sector by consistently enhancing delivery timings and improving customer experience.
From the season of its beginning, this online stage has collected vast aggregates of cash which more than demonstrates Swiggy’s worth as a food ordering platform. Starting from discovery through visual menus, massive reduction in delivery time and no minimum order, Swiggy has become the highest used online platform. With more than 12,000 restaurants in their list, delivery time of 37 minutes and reduced overhead costs, Swiggy has positioned itself at the top of this field.
The startup has two major source of revenue. It collects commissions from restaurants for lead generation and for serving as a delivery partner. Swiggy also levies a nominal delivery charges from customers on orders.
Swiggy’s marketing strategy consists of both online and offline campaigns. It promotes its campaigns through social networking sites like Facebook, Twitter, Youtube, Pinterest, and Instagram. Some of its offline campaigns include Secondtomom,#DiwaliGhayAayi, #SingwithSwiggy and Know your food series of pictures and food walks in a local area etc. The company has successfully built its brand awareness and promotion. It connects with its Costumers through these channels. Their facebook page is quite active with regular updates. Swiggy uses its Social media not only for campaigning but to engage with its customers from solving the grievances and taking the feedback in order to improve that sector.
To ensure they are here for the long run, Swiggy has launched a large group of exciting highlights like Swiggy Pop, Swiggy Access and Swiggy Schedule. With consistent improvements in their innovation, Swiggy has ensured it has secured the number one position in the country in relation to the online food ordering food.
To expand the growth of the company Swiggy offers many gift coupons and discounts.
Swiggy Net Worth
Currently, Swiggy earns 30 percent of the shares on every order with the restaurant and also takes delivery charges from the consumers. According to the data filed by the company, the net worth of Swiggy is Rs 3, 86, 34,590 with a turnover of Rs 7, 41, 702. With more than 25,000 restaurant owners, Swiggy has its own team of delivery executives which operates across 13 different cities in India, including Bengaluru, Mumbai, Chennai, Delhi, Hyderabad, Kolkata and many more.
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