Commencing its services in 500 cities pan India in October this year, Swiggy, an ace player in the food delivery domain, is reportedly, targeting to achieve 100 million customers transacting with it over 15 times a month in the next 10-15 years, cited Mint.
“If some of our growth estimates come true, it won’t take long before we will be the third-largest source of employment in India,” said Sriharsha Majety, co-founder and CEO at Swiggy, said.
Swiggy was founded by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini in 2014. The company claims to have over 2 Lakh delivery partners and more than 1 Lakh restaurant partners spread across 200+ Indian cities.
Also read: Swiggy now serviceable in 500 cities pan India; aims expansion to 600 cities by December
Presently, the Bengaluru-based food delivery unicorn Swiggy claims that it register nearly 1.4 million food orders daily across India.
As mentioned above, the platform Swiggy has a presence in over 500 cities and towns, 140,000 restaurants on its platform and 2.1 lakh active delivery partners.
“We believe 75% of the demand will come from the supply which doesn’t exist today,” said Majety, adding that today Swiggy is the most frequently ordered service.
Besides the food category, Swiggy in 2018, acquired hyper-local delivery startup Supr Daily and launched Swiggy Stores to offer delivering of household items like groceries, flowers, medicines, and other stuffs at home.
While, Niren Shah, MD and head of Norwest India, an existing investors in Swiggt, said, “Swiggy has been able to significantly enhance its consumer base, usage frequency, brand and mindshare through product expansions such as Swiggy Pop, Swiggy Access, Swiggy Stores, among several others. I believe that Swiggy has a long runway of growth.”
Other food delivery giants players in the foodtech domain includes Zomato, Uber eats, Food Panda, and many more.
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