New Delhi: Food delivery and quick commerce platform operator Swiggy said it will offer 24/7 free delivery in Delhi-NCR as it gears up for the festive season. The platform aims to meet growing demand ahead of Diwali in 10-15 minutes, it added.
The new service will cover Delhi, Noida and Gurugram. Users will not be charged extra for this. The company stated that the service was rolled out in view of continued demand for products seen after the “shutters go down in the late hours”.
The platform also aims to cater to the last-minute preparation demand during the festive season.
Why Swiggy launched 24/7 delivery?
Swiggy shared its analysis of late-night orders to share that while the Diwali season was peppered with orders for parties, celebrations promoted them to order throughout the night. Further, late-night orders were big on snacks such as chips and bhujia as well as desserts such as ice cream. Sexual wellness products also featured prominently in late-night orders, apart from pan corner essentials.
These orders are popular during the 11 pm to 6 am time window. After the 6 am window, orders are focused on breakfast orders such as milk and eggs, Swiggy added.
Swiggy IPO launch date and more
Swiggy announced its IPO last week which includes a fresh issue of shares worth RS 3,750 crore. The IPO includes an offer for the sale of 18.53 crore shares. The company is eyeing a $15 billion valuation. The company competes directly with Zomato in the food delivery space. It competes with a wider group of companies in the quick commerce delivery space, namely Blinkit, Zepto and BigBasket. However, Swiggy is likely to command a lower valuation than Zomato.
The company has raised funds from a clutch of celebrities ahead of the launch of its IPO, these include actors Madhuri Dikshit and Amitabh Bachchan’s family offices, apart from Ashish Chaudhary. Filmmaker Karan Johar also holds s stake in the food delivery and quick commerce platform. Cricketer Rahul Dravid also holds a stake in Swiggy, apart from pacer Zaheer Khan and tennis ace Rahul Bopanna.
Food delivery aggregator and quick commerce company Swiggy has decided to roll out 24X7 delivery for InstaMart in Delhi-NCR. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
