Swiggy is an Indian online food ordering and delivery platform. Founded in 2014, Swiggy is headquartered in Bangalore and operates in more than 580 Indian cities, as of July 2023.[4] Besides food delivery, the platform also provides on-demand grocery deliveries under the name Instamart, and a same-day package delivery service called Swiggy Genie. It rivals homegrown startup Zomato in food delivery and hyperlocal marketplace.[5] History In 2011, Sriharsha Majety and Nandan Reddy designed an e-commerce website called Bundl to facilitate courier service and shipping within India.[6] Bundl was halted in 2014 and rebranded to enter the food delivery market.[7] Majety and Reddy approached Rahul Jaimini, formerly with Myntra, and founded Swiggy in August 2014.[8][6][7] By 2015, Swiggy expanded its food delivery operations from just Bangalore to eight Tier 1 cities across India.[9][10] At the time, the food delivery sector was in turmoil as several notable startups, such as Foodpanda (later acquired by Ola Cabs), TinyOwl (later acquired by Zomato) and Ola Cafe (later closed) were struggling.[6][7] In January 2017, Swiggy started its cloud kitchen chain called "The Bowl Company".[11] In November 2017, Swiggy started a kitchen incubator business called Swiggy Access, opening a network of ready-to-occupy kitchens for its restaurant partners.[12] By 2019, over 1,000 Swiggy Access kitchens were operational, according to a TechCrunch report.[13] In mid-2018, Swiggy was operational in 16 Indian cities,[14] which increased to 500 cities in 2019, matching the scale of rival Zomato.[15] In early 2019, Swiggy expanded into general product deliveries under the name Swiggy Stores, sourcing items from local stores.[16][17][18] In September 2019, Swiggy launched the instant pickup/dropoff service Swiggy Go, allowing customers to send document or parcel deliveries.[19][20] In April 2020, it rebranded Swiggy Go as Swiggy Genie.[21] During the COVID-19 pandemic, it began doorstep delivery of alcohol in the states of Jharkhand, West Bengal and Odisha.[22][23] In May 2020, Swiggy laid off 1,100 employees during the COVID-19 pandemic.[24] The pandemic also resulted in the shut down of more than three-fourths of its cloud kitchens.[25] A Swiggy delivery partner swapping the battery of his electric scooter A Swiggy delivery partner swapping the battery of his electric scooter In August 2020, Swiggy launched its instant grocery delivery service called Instamart using a network of dark stores.[26][27] In early 2021, the company closed Swiggy Stores and expanded its operations under Instamart.[28] In 2023, it sold Swiggy Access kitchens to Kitchens@ in a share-swap deal.[29] In January 2024, Swiggy laid off 400 employees, or 6% of its workforce, ahead of IPO.[30][31] In April 2024, Swiggy converted itself into a public limited company[32] and confidentially filed for an initial public offering.[33]
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