Delivering food across India, Swiggy’s unlisted stocks are ready to order from the Minance Private Market. It is a food ordering and delivery service application that aims to bridge the gap between customers and restaurants by bringing the essence of a restaurant to the customer’s doorstep.
Swiggy brings all types of cuisines under one umbrella and allows the user to order from their favourite restaurants nearby. It saves people from the trouble of keeping pamphlets and saving up numbers from restaurants and makes the process hassle-free. It is profitable for restaurants as well to partner with Swiggy as it gives them a wider customer base to serve, along with saving the cost of hiring delivery personnel.
Swiggy’s ideology of cracking the food delivery business was to build an extensive logistics network and a strong management team, to ensure fast delivery. The investment of building a vast fleet of their professional delivery boys and to provide technology for keeping a record of deliveries has been the differentiating point for Swiggy and thus its unlisted shares being available at Minance.
Despite entering the online food delivery market late in 2014, Swiggy has given a head-to-head competition to brands such as Zomato, Food panda, Box8, etc. Its unmatched post-sales services and providing value-for-money to its users, made Swiggy reach a billion-dollar valuation of $1.3 billion in 2018 by raising about $210 million.
A company that started with a small office in Bengaluru with sex delivery executives and 25 restaurants, has now partnered with more than 12,000 restaurants across some major cities in India and has over 13,000 delivery executives working for Swiggy. In just 6 years, Swiggy has managed to get its unlisted shares in the market with such high valuation.
As of 2019, Swiggy has raised a total of ₹1,125 crores, with its current valuation standing at $3.6 billion. Apoletto Asia, the personal investment vehicle of Israeli-Russian billionaire Yuri Milner, holds a 1.57% stake in the company. Meanwhile, DST Global controls 6.17% in Swiggy’s unlisted stocks valued at $192 million (₹1,438.5 crores).