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India’s quick commerce market is booming, with demand more than doubling for some players. But the fast-delivery push by Flipkart and Amazon is raising the stakes in an already crowded space where profitability remains under pressure. Flipkart, one of India’s largest e-commerce players entered quick commerce later than local rivals such as Blinkit, Swiggy, and…
Rapido, a popular ride-hailing platform in India that competes with Uber, has doubled its valuation to $2.3 billion following a secondary share sale by food delivery giant Swiggy. The share sale comes just weeks after Rapido began piloting food deliveries, edging into Swiggy’s core territory. Swiggy has offloaded its entire 12% stake in Rapido for…
Rapido, a popular ride-hailing platform in India, has quietly begun beta testing its food delivery service in Bengaluru, marking its first serious move to challenge market leaders Swiggy and Zomato in one of the world’s fastest-growing delivery markets. The 10-year-old startup has started testing its food delivery service in three primary localities in the southern…
Prosus anticipates as many as five potential IPOs from its Indian portfolio over the next 18 months, signalling growing momentum in the world’s second-largest internet market. The Dutch investment group on Monday named payments giant PayU, e-commerce startup Meesho, and online jewelry seller Bluestone among the startups that are preparing for an IPO. TechCrunch reported…
Zomato has raised $1 billion through a so-called qualified institutional placement, completing its first major fundraise since its 2021 IPO. The $30 billion food delivery and quick-commerce giant, which leads both those categories, issued approximately 336.5 million shares at ₹252.62 each ($3), according to a stock exchange filing on Friday. The placement, which opened on…