SRIHARSHA MAJETY EMAIL
Flipkart-Swiggy deal talks; Corning’s India plan
Flipkart considered buying a stake in Swiggy months ago amid the rise of quick commerce. This and more in today’s ETtech Morning Dispatch.
Lenskart $200M secondary deal; Baron bumps up Swiggy’s valuation
Singapore's Temasek and US-based Fidelity have invested $200 million in Lenskart through a secondary share sale. This and more in today’s ETtech Top 5.
2023 Year in review: how layoffs hit technology and startup workers
With the year drawing to a close, ETtech looks at startups and tech companies— global and domestic—which laid off employees to cut costs amid economic uncertainties.
Swiggy tests bundling for ‘One’ subscriptions, experiments with pricing tiers
Food-delivery major Swiggy is working with banking and telecom firms to roll out bundled plans that include Swiggy One subscriptions. The company is also experimenting with different pricing and service tiers for the subscriptions, people in the know of the matter told ET.
Layoffs in 2023: Microsoft, Cognizant, Accenture among latest firms to cut jobs amid economic turmoil
The layoff wave has swept not only startups and mid-sized firms, but also big tech companies such as Amazon, Microsoft, and Google parent Alphabet, among others.
Exclusive: Sebi may review compliance for VC, PE funds; Cred‘s rejigging its lending strategy
Capital markets regulator Securities and Exchange Board of India (Sebi) has sought suggestions from venture capital and private equity funds to potentially simplify regulations for the sector.
- Go To Page 1
Swiggy, like Netflix, tightens its password-sharing provision. Read here
Swiggy has stated that its Swiggy One membership has been changed, and customers will no longer be able to utilise the Swiggy One account on more than two phones.
Another crypto company goes bust
One of the world’s largest crypto lenders, Genesis froze withdrawals in November after the spectacular collapse of FTX.
'Devastated, shocked': sacked Google employees left distraught as layoffs impact 12,000
Google parent Alphabet on January 20 announced that it plans to layoff about 12,000 employees or 6% of its global workforce.
Layoffs in 2023: the most important stories this week
Google is the latest tech firm to trim staff as the economic boom that the industry rode during the Covid-19 pandemic ebbs. The tech giant said on January 20 that it is laying off 12,000 workers, or about 6% of its workforce.
Swiggy to lay off 380 Employees, says CEO
The food and grocery delivery company is the latest to join the swelling ranks of startups such as ShareChat, Dunzo, Rebel Foods, Hubilo, Ola and Cashfree to announce layoffs in recent weeks, as the sector weathers a late –stage funding crunch amid global macro-economic and geopolitical turmoil.
Swiggy, Google announce layoffs; search giant vows to cooperate with CCI on Android ruling
Swiggy and Google are the latest tech firms laying off employees amid a brutal funding winter and fears of a US recession. The food delivery firm will cut 380 jobs while the search giant will cut 12,000, their CEOs wrote in emails to staff on Friday. ShareChat, Dunzo, Rebel Foods, Hubilo, Ola, Cashfree and others have already announced layoffs this year, adding to the 18,000 sackings at Indian startups in 2022.
Swiggy sacks 380 employees: read CEO Sriharsha Majety’s email on job cuts
Online food delivery platform Swiggy is laying off 380 employees. The decision was communicated to staff at a town hall on Friday.
Swiggy shutters Supr Daily operations across five cities
Swiggy acquired Supr Daily, a delivery app for milk, bread, and other grocery items, in 2018. Kishan, who was given the cofounder title last year, has been overseeing Supr Daily as its chief executive officer.
Legal threat for India's data law; crypto exchanges eye targeted ads
Big Tech firms are weighing legal action if Indian lawmakers accept all the recommendations of the Joint Committee of Parliament in the final Personal Data Protection Bill.
Swiggy said to near $700 million fundraise in Invesco-led round
While Invesco will pour in $200 million, other existing investors such as Softbank will also participate. The deal values Swiggy, formally known as Bundl Technologies Pvt., at about $10.5 billion.
Swiggy restructures Supr Daily to unlock delivery potential, cofounders exit
Supr Daily cofounders Puneet Kumar, Shreyas Nagdawane and Rohit Jain are exiting the company as part of the restruturing. Swiggy's newly elevated cofounder Phani Kishan will take the helm at Supr Daily as CEO.
K’taka gaming ban ‘in two months’; Swiggy spins off Supr Daily
Karnataka, which passed a bill banning online gaming last week, will now draft rules and implement the ban in two months, the state’s home minister told us.
Exclusive: Invesco in talks to invest in Swiggy at $10 billion valuation
Existing investors too to take part in re-rating exercise at double the valuation post rival Zomato's bumper IPO
Swiggy's plan beyond food delivery
In today's ETtech Morning Dispatch: Swiggy gets $1.25 billion funding after Zomato IPO; Income Tax department comes knocking on crypto exchanges' doors; and AWS shuts down NSO Group account over Pegasus spyware matter.
Swiggy COO Vivek Sunder to step down, CEO Majety takes over role
COO Vivek Sunder, who was overseeing Swiggy's food delivery business, has decided to pursue interests “outside of Swiggy”, CEO Sriharsha Majety says in an email to employees.
ETtech Scoop: Swiggy set to raise $450 million from SoftBank
The SoftBank deal is likely to peg Swiggy's valuation at $5 billion—pre-money or pre-investment—and is an extension of the $800 million funding round that CEO Sriharsha Majety announced in a company-wide email last month.
Swiggy gets $800 million funding at $5 billion valuation
Swiggy’s mammoth fundraising comes at a time when its biggest rival Zomato is firming up plans to launch an IPO some time later this year.
Swiggy seeks rent waiver from its landlord Embassy
The company pays a rent of Rs 78 per sq ft for over 300,000 sq ft of space it occupies under the name Bundle Technologies in Embassy Tech Village. The lease for this property was signed in May 2019 and has a lock-in period till May 2025, with rental escalation of 15% annually.
Swiggy co-founder Rahul Jamini moves out to join Pesto Tech
At Swiggy, Jaimini was instrumental in building the firm’s technology backbone and led the functions of engineering, analytics and IT team, including Swiggy Labs.
Ordering food in the time of corona: Swiggy e-mails advisory to customers, assures high standards being followed
Food brands are taking proactive measures to deal with the pandemic.
Naspers leads $80 million delivery for Swiggy
The company is believed to have been valued at $400 million as part of the current round.
Naspers in advanced talks to pick up stake in food delivery startup Swiggy
Naspers, which has backed companies like Flipkart and owns about a third of travel portal MakeMyTrip, is expected to invest $50-60 million as a part of the funding round.
Zomato, TinyOwl and Swiggy in talks to raise about Rs 1,000 crore
US-based GrubHub, valued at $2.6 billion, was handling 234,700 orders a day, whereas Foodpanda, India’s largest online food delivery service, handles an estimated 30,000 orders daily.
Load More
