The story goes something like this. In the year 2015, the year when food startups were hot, three well-meaning folks, Sriharsha Majety, Nandan Reddy and Rahul Jaimani decided that ordering food is a hassle and they must solve it. Between them, they had an idea, engineering degree and management education — a potent combination to show promise and raise money. One thing led to another and, Swiggy.
Bundl Technologies Private Limited
As per MCA records
Bessemer Venture Partners
Norwest Venture Partners
What has Swiggy been upto, the last year?
A lot. Swiggy was a tiny, food ordering app till last year, serving just a few neighbourhoods in Bengaluru. Today, the startup has about 5,000 restaurants on its platform. It is present across seven cities and has close to 3,000 delivery boys, delivering food. Swiggy’s growth closely matches its hunger for funding. In just this calendar year alone, Swiggy has raised $57 million. In interviews, Majety, the CEO has claimed that Swiggy touched 1 million orders in April 2016.
Rs 20.01 crore: That’s the actual money Swiggy made from its operations as of March 2016. The startup made about Rs 3.4 crore from interest on fixed deposits and sale of mutual funds.
Rs 16.5 crore: This is Swiggy’s service income in FY16. Service income is the commission charged by the company from the restaurant. Interestingly, Swiggy shows zero service income in the previous year.
Rs 3.4 crore: If you’ve read and wondered about food delivery companies charging YOU for delivery, this is your number. Swiggy made Rs 3.4 crore as delivery charges as of March 2016.
Rs 137 crore: There is no other way to put it, this is a sizeable loss, compared to Swiggy’s revenue. It remains to be seen, the headroom for revenue growth for food delivery companies, when they are already charging commission from restaurants and delivery charge from the customer.
Rs 2.7 crore: Have you ever cancelled an order after the delivery boy has left the restaurant with the food? Yeah. This is how much it cost Swiggy.
Rs 44 crore: Purely the delivery cost incurred by Swiggy. That’s twice its revenue.