The Indian online food distribution space has witnessed a massive boom in recent years. From a mere $4.82 billion in revenues in 2017, it touched $27.47 billion in 2022. Notably, by 2027 it is probable to reach $71.62 billion.
The two players who rule this growing market are Gurgaon-based Zomato and Bengaluru-grounded Swiggy.
Zomato stood founded by Deepinder Goyal and Pankaj Chaddah, two IIT Delhi graduates in 2008. In its former avatar, it was named FoodieBay and changed to its present appellation Zomato in 2010.
Meanwhile, Swiggy was created in July 2014 by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini and parent business Bundl Technologies.
Now let’s try to find out about their trips, their present financial situation, and what is the way forward for this opposing duo.
Swiggy’s aggressive disregarding has been both a boon and a bane for the company. In FY 22, Swiggy recorded proceeds of Rs 5,704.9 crores while Zomato’s revenue for the same period was hoisted at Rs 4,687.3 crores. However, Swiggy’s losses for FY 22 are three times higher than Zomato’s losses in a similar period. In FY 22, when Zomato recorded losses of Rs 1,220.3 crores, Swiggy’s fatalities were Rs 3,628.9 crores.
Zomato trumps Swiggy on this front. As of February 2022, Zomato’s quantity of restaurant partners stood at 390,000 while Swiggy’s was less than part of that at 128,000.