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Swiggy, Zomato make it to top 10 global online food delivery firms
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IANS | 22 Sep, 2022
Homegrown online food delivery platforms Zomato and Swiggy have made it
to the list of the world's 'Top 10' e-commerce-based food delivery
companies, says a new report.
According to the Canada-headquartered global research firm ETC Group, Swiggy was placed in 9th place and Zomato on 10th.
Meanwhile,
China's Meituan, the UK's Deliveroo, and the US' Uber Eats, a
subsidiary of Uber, captured the top 3 positions, respectively.
"The
food delivery sector refers to digital, on-demand platforms for
ordering and paying for prepared food and, increasingly, groceries and
other retail items," the research firm said in a statement.
"Restaurants/retailers fill the orders and couriers deliver them to customers within a prescribed timeframe," it added.
In
June 2022, Zomato approved the acquisition of quick commerce start-up
Blinkit for Rs 4,447.5 crore ($570 million) in an all-stock deal. Zomato
already owned more than a 9 per cent stake in Blinkit (earlier
Grofers).
Meanwhile, Swiggy, a subsidiary of Bundl Technologies
Private Ltd, deals with prepared food (restaurant) delivery, cloud
kitchen, and grocery delivery via Swiggy Go.
"Venture capital and
technology investment has fuelled the sector, but companies have yet to
deliver profits -- even in the sector-friendly circumstances of the
global pandemic when delivery became more necessity than convenience,"
the report said.
"Tweaking the business model to move toward
profitability -- most prominently by adding grocery delivery -- is
underway," it added.
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