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Swiggy’s IPO, valued at a whopping 11,327 crore rupees, was open for grabs from 6th to 8th of November

Swiggy’s Stock Market Debut: 500 Current & Ex-Employees Turn Crorepatis!

Swiggy&rsquo;s IPO, valued at a whopping 11,327 crore rupees, was open for grabs from 6th to 8th of November

Big day for Swiggy&mdash;and its employees! Today, around 5,000 current and former employees will benefit from ESOPs, with 500 employees joining the crorepati club as Swiggy makes its stock market debut.&nbsp;&nbsp;
<h3>But just how big was this debut?</h3>
Swiggy shares opened at 420 rupes on the NSE, a 7.7% premium over its issue price of 390 rupees. Meanwhile, on the BSE, shares listed at 412 rupees, up 5.64%.
This IPO doesn&rsquo;t just mark a milestone for Swiggy&mdash;as per Moneycontrol, it also puts around 9,000 crore rupees directly into the hands of employees who&rsquo;ve seen the company grow from a startup to a food delivery powerhouse.
Swiggy&rsquo;s IPO, valued at a whopping 11,327 crore rupees, was open for grabs from 6th to 8th of November. So what&rsquo;s next for Swiggy on its new stock market journey? And will the shares keep up the momentum? Stay tuned as Swiggy kicks off a new chapter as a publicly listed giant!&nbsp;
Must Watch: <a href="https://www.editorji.com/business-news/from-rivals-to-well-wishers-zomato-celebrates-swiggy-s-ipo-success-1731486720583">From Rivals to Well-Wishers: Zomato Celebrates Swiggy&rsquo;s IPO Success</a>

The food delivery giant has been ordered to pay 35,000 rupees in penalties to a customer in Hyderabad

Swiggy Fined ₹35,000 for Inflating Delivery Distance – What Happened?

The food delivery giant has been ordered to pay 35,000 rupees in penalties to a customer in Hyderabad

Swiggy just got fined for overcharging its customer. Yes, you heard that right.
The food delivery giant has been ordered to pay 35,000 rupees in penalties to a customer in Hyderabad.
This after he proved the app artificially inflated the distance to charge a higher delivery fee!.
Emmadi Suresh Babu, a Swiggy One member, filed a complaint after noticing. Swiggy had increased the distance from the restaurant by almost 5 km, costing him extra.
Using Google Maps screenshots, he convinced the consumer court of Swiggy's unfair practices.
Now, Swiggy has been fined and has 45 days to pay up.
Also Watch: <a href="https://www.editorji.com/business-news/india-s-6-lakh-crore-wedding-season-48-lakh-weddings-in-2-months-1730712202370">India's ₹6 Lakh Crore Wedding Season | 48 Lakh Weddings in 2 Months!</a>

Swiggy, founded in 2014, had a valuation of nearly USD 13 billion in April

SEBI Clears Swiggy’s $1.25 Billion IPO, Launch Expected in November

Swiggy, founded in 2014, had a valuation of nearly USD 13 billion in April

&nbsp;Food and grocery delivery major Swiggy has received capital markets regulator Sebi's clearance to launch its much anticipated Initial Public Offering (IPO), sources said on Wednesday.
Swiggy filed its offer document on April 30 through the confidential pre-filing route, keeping details undisclosed for the time being.
Under the confidential filing process, Swiggy will submit two updated draft prospectuses after Sebi's approval -- one addressing the regulator's feedback and the other for public comments over 21 days. Only then will the final prospectus be filed, and the company can launch roadshows for the IPO, sources said.
Swiggy, founded in 2014, had a valuation of nearly USD 13 billion in April.
The company's annual revenue stood at USD 1.09 billion as on March 31, 2023 and has more than 4,700 employees, according to Tracxn, a global startup data platform.
In April, sources had previously stated that Swiggy received shareholders' approval for an IPO to raise Rs 10,414 crore fund through issue of fresh equity shares and an Offer-For-Sale (OFS).
A special resolution was passed at an extraordinary general meeting of Swiggy on April 23, they stated.
According to sources, the Bengaluru-based company plans to raise up to Rs 3,750 crore funds through fresh equity shares, in addition to an OFS component of up to Rs 6,664 crore.
The company is looking to shore up about Rs 750 crore from anchor investors in a pre-IPO round, they had added.
Last week, Swiggy announced the launch of a new initiative "Project Next", aimed at providing career growth opportunities for its delivery partners while accelerating restaurant onboarding.
Also Watch: <a href="https://www.editorji.com/business-news/india-s-largest-ipo-sebi-gives-green-signal-to-hyundai-motor-india-s-public-issue-1727256182379">India's Largest IPO: SEBI Gives Green Signal To Hyundai Motor India&rsquo;s Public Issue</a>

Available on both Swiggy Food and Instamart, Incognito Mode ensures that users can place orders and keep their selections private

Swiggy Introduces Incognito Mode: How to Place Secret Orders Without a Trace

Available on both Swiggy Food and Instamart, Incognito Mode ensures that users can place orders and keep their selections private

On-demand convenience platform Swiggy on Friday said it has launched an industry-first Incognito Mode feature, allowing users to place orders privately across food and quick commerce.
Whether planning a surprise, indulging in a personal treat, or making a discreet purchase, Incognito Mode keeps these orders out of the app's history, eliminating the need to manually delete them.
Available on both Swiggy Food and Instamart, Incognito Mode ensures that users can place orders and keep their selections private.
Swiggy stated that the Incognito Mode is also ideal for discreet purchases, such as personal wellness products on Swiggy Instamart, as this feature ensures that such orders remain private, giving users confidence that their choices will not be visible to others.
"As social as our lives are becoming, there are still things we prefer to keep private, and Incognito Mode is designed to address that need," Rohit Kapoor, CEO of Swiggy's Food Marketplace, said.
"Whether you're ordering a meal or making a quick purchase, Incognito Mode ensures your choices remain private. We're excited to offer our users a seamless experience that lets them enjoy Swiggy's diverse offerings with enhanced privacy," he added.
The feature is currently available to 10 per cent of Swiggy users and will be rolled out to all users in the coming days.
The Incognito Mode feature can be activated via a toggle in the user's cart. Once activated, a reminder will appear, confirming that Incognito Mode is on. After the order is delivered, it will remain trackable for three hours, allowing users to manage any post-delivery concerns. After that, the order is discreetly hidden from the order history, ensuring that the purchase remains private.

Swiggy is planning for a&nbsp; $1.2 billion IPO&nbsp; to raise up to $450 million in fresh capital, in addition to an offer-for-sale (OFS) component of up to $800 million

Swiggy gets shareholders nod for $1.2 billion initial public offering

Swiggy is planning for a  $1.2 billion IPO  to raise up to $450 million in fresh capital, in addition to an offer-for-sale (OFS) component of up to $800 million

<h2>Swiggy is planning for a&nbsp; $1.2 billion IPO&nbsp; to raise up to $450 million in fresh capital, in addition to an offer-for-sale (OFS) component of up to $800 million</h2>

Food delivery platform Swiggy has got an approval from its shareholders to go public. As per a regulatory filing, through the initial public offering, the food and grocery delivery platform is planning to raise up to Rs 3,750 crore ($450 million) in fresh capital, in addition to an offer-for-sale (OFS) component of up to Rs 6,664 crore ($800 million).
&ldquo;...the consent and approval of the shareholders of the company be and is hereby according to create, issue, offer, allot and/or transfer of its equity shares up to an aggregate of Rs 37,501 million by way of a fresh issue of equity shares and an offer for sale of such number of equity shares up to an aggregate amount of Rs 66,640 million by certain existing shareholders&hellip;,&rdquo; the filing read.
The special resolution was passed at an extraordinary general meeting (EGM) of Swiggy&rsquo;s shareholders on April 23.
<h3>Swiggy IPO</h3>
As per The Economic Times, Swiggy is &nbsp;looking to shore up about Rs 750 crore from anchor investors in a pre-IPO round. The firm is yet to file its IPO documents with the country&rsquo;s capital markets regulator Securities and Exchange Board of India (SEBI)
New age startups like Firstcry, Ola Electric, and Awfis are also planning to go public this year. Dutch listed Prosus is the largest shareholder in Swiggy with 33% stake followed by SoftBank. Other shareholders include Accel, Elevation Capital, Meituan, Norwest Venture Partners, Tencent, DST Global, Qatar Investment Authority, Coatue, Alpha Wave Global, Invesco, Hillhouse Capital Group and GIC.
Meanwhile, as per Tracxn, the company&rsquo;s cofounders Sriharsha Majety, Nandan Reddy and Rahul Jaimini hold 4%, 1.6% and 1.2% stake, respectively. Jamini has left his operational role in 2020.&nbsp;
In an internal rejig on April 23, Majety and Reddy were appointed executive directors of the company. While Majety was named the managing director and group CEO, Reddy was named the whole time director and head of innovation
Also watch: <a href="https://www.editorji.com/business-news/markets/ahead-of-ipo-plans-swiggy-records-200-million-loss-report-1711698057414">Ahead of IPO plans, Swiggy records $200 million loss: Report</a>
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Swiggy will be offering employees one additional day leave along with annual leave entitlement for employees who are welcoming new pet along with pet related sick and bereavement leaves&nbsp;

National Pet Day: Swiggy announces Paw-ternity policy; here's everything you need to know

Swiggy will be offering employees one additional day leave along with annual leave entitlement for employees who are welcoming new pet along with pet related sick and bereavement leaves 

<h2>Swiggy will be offering employees one additional day leave along with annual leave entitlement for employees who are welcoming new pet along with pet related sick and bereavement leaves&nbsp;</h2>

On National Pet Day, in an effort to appreciate Pet Parents, food delivery platform Swiggy has announced 'Paw-ternity' policy. The policy aims to provide comprehensive support to the company's employees who are pet parents.
<h3>Paw-ternity Policy</h3>
In a press release, Swiggy's Chief Human Resource Officer Girish Menon has mentioned that by introducing Paw-ternity Policy Swiggy is extending its commitment to inclusivity by recognizing and honoring the unique responsibilities of pet parenthood.
"At Swiggy, we continually strive to create a workplace culture that values and supports our employees in every aspect of their lives. With the introduction of the Swiggy Paw-ternity Policy, we are extending our commitment to inclusivity by recognizing and honoring the unique responsibilities of pet parenthood", said Girish Menon.
Also Read: <a href="https://www.editorji.com/business-news/swiggy-s-food-delivery-business-turns-profitable-in-9-years-ceo-1684401567314">Swiggy&rsquo;s food delivery business turns profitable in 9 years: CEO</a>
Under the new policy full-time employees will benefit from several key provisions including New Pet Adoption leave, sick leave, Bereavement leave.
<ol style="list-style-type: lower-alpha;">
<li>New Pet Adoption leave: Swiggy will be offering employees one additional day leave along with annual leave entitlement for employees who are welcoming new pet. This leave aims to give pet parents the time they need to help their new companions settle into their homes. Employees are also given Work from home option during this period to provide comfort and support to their new pets.</li>
<li>Sick Leave: The Swiggy Paw-ternity leave allows pet parents to use their sick or casual leaves for routine vaccination or accompanying a sick or injured pet to a veterinary appointment.</li>
<li>Bereavement leave: Swiggy has decided to offer bereavement leave to grieve the loss of a pet.</li>
</ol>
The Paw-ternity leave is build upon an extension of Swiggy's gender-neutral parental policy introduced in 2020. This policy provides paid leave for primary and secondary caregivers, bonding leaves, and time off for various family-related circumstances, including adoption, surrogacy, miscarriage, and IVF treatments.

Hackers utilized IVR technology to deceive the victim, prompting her to disclose sensitive information, ultimately leading to unauthorized transactions. 

Woman's Swiggy account hacked, loses ₹97,000

Hackers utilized IVR technology to deceive the victim, prompting her to disclose sensitive information, ultimately leading to unauthorized transactions.&nbsp;

A recent online scam has brought to light the vulnerability of personal accounts to cybercriminals, with a woman falling victim to a breach in her Swiggy account resulting in a staggering loss of ₹97,000. The incident sheds light on the evolving tactics employed by hackers to exploit unsuspecting individuals for financial gain.
According to reports from The New Indian Express, the perpetrators behind this scam, identified as Aniket Kalra, 25, and Himanshu Kumar, 23, orchestrated a scheme that targeted a 26-year-old woman. Using a deceptive technique involving Interactive Voice Response (IVR) technology, the hackers impersonated Swiggy's official system in a late-night phone call to the victim. The call falsely claimed that her account was under threat, prompting her to disclose sensitive information such as usernames, passwords, and potentially even banking details out of concern for her account's security.
Armed with the obtained credentials, the hackers swiftly gained unauthorized access to the woman's Swiggy account, exploiting it to place orders worth nearly Rs 1 lakh without her consent. The fraudulent transactions were routed through her Lazy Pay account, exacerbating the financial impact on the victim.
Upon investigation, it was revealed that Kalra, one of the accused, had previously worked as a delivery agent for both Zomato and Swiggy. Leveraging his insider knowledge, he collaborated with an accomplice identified as Ansh, devising a strategy to exploit individuals who had linked their payment methods to their Swiggy accounts.
The modus operandi involved preying on the fears of potential victims by disseminating automated calls masquerading as official Swiggy alerts, prompting them to divulge confidential information under the guise of safeguarding their accounts. This data was then exploited to orchestrate unauthorized transactions, perpetrating financial losses on unsuspecting users.
The arrest of the perpetrators serves as a stark reminder of the importance of vigilance and skepticism when confronted with unsolicited communications regarding personal accounts. Authorities urge the public to exercise caution and refrain from sharing sensitive information in response to such requests, thereby mitigating the risk of falling victim to similar scams in the future. Also Watch: <a href="https://www.editorji.com/business-news/startups/swiggy-increases-platform-fee-amidst-competitive-food-delivery-landscape-1697522347879#google_vignette">Swiggy increases platform fee amidst competitive food delivery landscape</a>

A social media user on X shared how a Swiggy delivery agent refused to deliver her order and said that he does not have time 

'Mere paas time nahi hai...': woman claims delivery agent refused order, Swiggy reacts

A social media user on X shared how a Swiggy delivery agent refused to deliver her order and said that he does not have time&nbsp;

A social media user named Neha S shared on X that her Swiggy order was not delivered as the Swiggy delivery agent that was assigned to her order refused to deliver it. Neha shared the post on X on February 5 and now it has gone viral.&nbsp;
In her post, she wrote, "I have ordered something from Swiggy. I have not received the order. Your delivery boy refused to deliver the order and said 'mere paas time nahi hai jo karna hai kar lo nahi le kar aunga order'. Where to go now?"
Soon after this, Swiggy replied to her post and said, "@Neha_ns9999 Hope the team could sort this out over call. We're right here should you need us for anything."
Though the matter was resolved swiftly, several internet users were peeved with the delivery person's unprofessional behaviour. Some also tried to find humour in this situation by jokingly tagging Indian cricketer Rohit Sharma as the delivery boy shared his name. &nbsp; &nbsp;
Also watch: <a href="https://www.editorji.com/lifestyle-news/food/condom-biryani-sales-reach-their-peak-in-hyderabad-on-new-year-s-eve-reports-swiggy-1704197481499">Condom, biryani sales reach their peak in Hyderabad on New Year's Eve, reports Swiggy&nbsp;</a>

Swiggy Layoffs 2024: Food delivery giant Swiggy axes 6% workforce as IPO looms. This round of layoffs follows an earlier reduction of 380 employees in January last year.

Swiggy Layoffs 2024: Swiggy Trims 400 Jobs in Pre-IPO Cost-Cutting Drive

Swiggy Layoffs: IPO- bound food delivery aggregator to cut 400 jobs

<h2>This round of layoffs follows an earlier reduction of 380 employees in January last year</h2>

IPO-bound food delivery aggregator, Swiggy is reportedly planning to lay off 400 employees in a restructuring move. The move, aimed at further reducing costs ahead of its IPO, will impact about 7% of Swiggy's workforce.
According to reports, the layoffs will primarily impact the tech, call center, and corporate teams. This round of layoffs follows an earlier reduction of 380 employees in January last year.
<h3>Swiggy Layoffs 2024 Reason</h3>
The Bengaluru-based company is focussed on optimizing operations to enhance cost-efficiency and present improved financials ahead of entering the public markets.
Amid plans for an IPO later this year, Swiggy is trimming costs. While CEO Sriharsha Mejety confirmed IPO preparations, the timeline remains unspecified.
According to Moneycontrol's reports, Majety noted that the food delivery sector's slowdown, attributed to deeper market penetration, is prompting reliance on Instamart, Swiggy's quick-commerce business, for future growth. Swiggy is reportedly in talks with investment bankers for its public listing.&nbsp;

The discreet move, targeting a select user group, mirrors a similar strategy employed in April 2023 when the platform introduced a nominal fee of ₹2 for select customers before extending it to all users. The current fee stands at ₹5.

Swiggy testing doubling of platform fee ahead of upcoming IPO: Report

The discreet move, targeting a select user group, mirrors a similar strategy employed in April 2023 when the platform introduced a nominal fee of ₹2 for select customers before extending it to all users. The current fee stands at ₹5.

Bengaluru-based food delivery giant Swiggy is reportedly testing the waters for a potential doubling of its platform fee from ₹5 to ₹10 per food order, according to a recent report by Moneycontrol. This strategic move is believed to be an effort by the company to mitigate losses in anticipation of its upcoming initial public offering later this year.
Swiggy has discreetly started suggesting the potential fee increase on its app, specifically targeting a "small set" of users. This echoes a similar strategy deployed in April 2023 when the platform introduced a nominal fee of ₹2 for select customers before extending it to all users. The current fee stands at ₹5.
In response to the speculation, a Swiggy spokesperson stated, "Swiggy has not changed its platform fee and has no plans for a significant increase in the near term. We're always running small experiments to better understand the consumer&rsquo;s choices.", reported Mint.
The timing of Swiggy's move is significant, given the current slowdown in the food delivery market. Co-founder and group CEO Sriharsha Majety emphasized the importance of Swiggy Instamart as a growth driver, underscoring the company's commitment to affordability, exemplified by the introduction of Pockethero.
Swiggy's pursuit of expanding its user base aligns with its IPO plans later this year, a goal shared by industry competitor Zomato. Zomato, initially hesitant to implement a platform fee, eventually followed in Swiggy's footsteps. The decision to levy a fee highlights the challenges faced by food delivery companies in a dynamic and evolving market.
Also Watch: <a href="https://www.editorji.com/business-news/markets/india-now-ranks-fourth-globally-in-stock-market-capitalization-surpassing-hong-kong-1705982344157">India now ranks fourth globally in stock market capitalization, surpassing Hong Kong</a>

Satpathy who worked with the firm for over 4 years has now joined the growing list of top-level exits at the food delivery giant. This comes two months after the firm's senior SVP Karthik Gurumurthy who built Swiggy Instamart, stepped down

Swiggy Instamart vice president Sidharth Satpathy resigns

<h2>Satpathy who worked with the firm for over 4 years has now joined the growing list of top-level exits at the food delivery giant. This comes two months after the firm's senior SVP Karthik Gurumurthy who built Swiggy Instamart, stepped down</h2>

Swiggy Instamart's Vice President Sidharth Satpathy has stepped down from the company. Amazon India&rsquo;s performance marketing head Anirban Roy will replace Satpathy.
Satpathy announced the decision via a LinkedIn post.&nbsp;
&ldquo;Anirban Roy will be taking over my role in Instamart effective this week as I start my next stint - Back in CPG industry from Monday onwards,&rdquo; Satpathy shared in a LinkedIn Post.
Also Read: <a href="https://www.editorji.com/business-news/startups/us-based-invesco-elevates-ipo-bound-swiggy-s-valuation-to-8-3-billion-1704372310156">US-based Invesco elevates IPO- bound Swiggy's valuation to $8.3 billion</a>
He also thanked co-founders Sriharsha Majety and Nandan Reddy in his post.
"Karthik Gurumurthy, Being your partner in crime in the Instamart blitz scale journey is probably the luckiest thing to have happened to me", Satpathy said
<h3>Top Exits from Swiggy</h3>
Satpathy who worked with the firm for over 4 years has now joined the growing list of top-level exits at the food delivery giant. Satpathy's resignation also comes two months after the firm's senior SVP Karthik Gurumurthy who built Swiggy Instamart, stepped down. As per Moneycontrol, SVP Karthik Gurumurthy will be starting his own venture Convenio.
Swiggy has also roped in another former Amazon senior executive Dipak Krishnamani to head Swiggy Mall.
Starting with its CTO Dale Vaz, Swiggy has seen some top-level exits in the last 8 months. Vaz had resigned to start his own wealth tech firm Aaritya Tech. This comes as the food delivery platform is planning an IPO this year and is planning to raise over $1 billion
&nbsp;

Swiggy, based in Bengaluru, peaked at a value of $10.7 billion after a $700 million funding round in January 2022, earning its place in the decacorn club

US-based Invesco elevates IPO- bound Swiggy's valuation to $8.3 billion

<h2>Swiggy, based in Bengaluru, peaked at a value of $10.7 billion after a $700 million funding round in January 2022, earning its place in the decacorn club</h2>

Invesco, an asset management company, has increased Swiggy's valuation to $8.3 billion, marking a consecutive surge in the Bengaluru-based foodtech major's worth over the past three months.
Invesco's holding of 28,844 shares in Swiggy, constituting a 2% stake, amounted to $147.63 million as per regulatory filings by the end of October 2023, aligning with Swiggy's valuation at $8.3 billion.
In October last year, Invesco increased the food delivery platform&rsquo;s valuation to about $7.85 billion.Swiggy had reached a $10.7 billion valuation in a round led by Invesco in January 2022.
In May last year, Invesco slashed Swiggy's valuation in its holding to about $5.5 billion. Also read/watch - <a title="Flight tickets to get cheap? IndiGo removes fuel charge on tickets" href="https://www.editorji.com/business-news/flight-tickets-to-get-cheap-indigo-removes-fuel-charge-on-tickets-1704352467680">Flight tickets to get cheap? IndiGo removes fuel charge on tickets</a>
Swiggy, based in Bengaluru, peaked at a value of $10.7 billion after a $700 million funding round in January 2022, earning its place in the decacorn club.
The company has long been contemplating an initial public offering (IPO) and reportedly plans to engage seven investment banks for its anticipated IPO in 2024. Swiggy aims to achieve profitability before going public, announcing in May last year that its food delivery business had turned profitable when considering all corporate costs except employee stock option expenses.
Furthermore, Swiggy aims to reach profitability in its grocery delivery service, Swiggy Instamart, by March 2024, as reported exclusively by Entrackr in September 2023.
However, Swiggy faced an 80% surge in losses, amounting to $545 million in FY23, primarily attributed to investments in its grocery business, according to Prosus' annual report, a significant backer of the company. Financial results for FY23 are pending submission.
In addition to Swiggy, Meesho, PineLabs, FirstCry, and Ola Electric also experienced an increase in their valuations during the last quarter of 2023.&nbsp;

Swiggy recently increased its platform fee to ₹3 per order, effective nationwide since October 4. This rise, although influenced by industry standards, highlights intense competition with Zomato

Swiggy increases platform fee amidst competitive food delivery landscape

<h2>Swiggy recently increased its platform fee to ₹3 per order, effective nationwide since October 4. This rise, although influenced by industry standards, highlights intense competition with Zomato</h2>

Swiggy has raised its platform fee on food orders to ₹3 per order, marking a 50% increase from the previous fee of ₹2.
The revised fee structure was put into effect starting October 4, initially in Hyderabad and Bengaluru, but was later extended to all regions where Swiggy operates across the country.
It's important to note that Swiggy has been applying a platform fee on food orders since April this year, initially set at ₹5. However, the company has been offering a discount of ₹2, making the effective fee ₹3 for each order.
Swiggy&rsquo;s main competitor, Zomato, also charges a platform fee of ₹2 per order, although in some cities, it charges ₹3, as per an ET report
A spokesperson from Swiggy stated to ET that charging a platform fee is a common practice among food aggregators and is not an unusual step. This fee is typically considered as a measure to improve unit economics, referring to the revenue generated by a company from each unit of sale or order.
As per a Business Standard report, several other companies, including Uber, BB Now, the quick commerce arm of BigBasket, and Zepto, have been implementing similar charges on each order.
This increase in platform fee comes in the backdrop of Swiggy's financial performance. The company, based in Bengaluru, reported an 80% year-on-year increase in losses, amounting to around $540 million in 2022, according to information shared by its owner in June. Despite this, Swiggy's CEO and founder, Sriharsha Majety, claimed in a blog post in May that the food delivery business had become profitable as of March this year. Also Watch: <a href="https://www.editorji.com/business-news/swiggy-riders-strike-in-mumbai-services-affected-due-to-this-reason-1696858142863">Swiggy riders strike in Mumbai, services affected due to this reason</a>

Many users also turned to the social media platform X to express their grievances about extended delivery times or received unserviceability messages on the app

Swiggy riders strike in Mumbai, services affected due to this reason

<h2>Many users also turned to the social media platform X to express their grievances about extended delivery times or received unserviceability messages on the app</h2>

Riders affiliated with Swiggy, the Bengaluru-based food delivery platform, initiated an "indefinite strike" in Mumbai on October 8, demanding improved working conditions and higher payouts, according to reports. The strike is organized by the 'Swiggy unit' of Rashtriya Karamchari Sena, a workers' union associated with the Maharashtra-ruling Shiv Sena party.
Videos circulating on social media depict Swiggy workers conducting bike rallies with placards to underscore their demands. The strike has disrupted Swiggy's services in the Mumbai region, preventing users from placing orders for food and groceries through Instamart on the company's app.
Protesting riders expressed the need for "higher payouts" and voiced their grievances about diminishing earnings. Some claimed that after several years with the company, their pay had significantly decreased, with riders having to cover long distances for minimal compensation, especially considering the rising fuel prices.
As of now, the company has not issued an official statement in response to the strike.
It's worth noting that delivery executives' earnings typically consist of three components: the payout per order based on the distance traveled, incentive pay, and surge pay.
This strike in Mumbai follows a similar one by Swiggy riders in Chennai earlier this year, which centered on the demand for higher payouts per order.
In the past, riders working with Blinkit, owned by Zomato, also initiated a strike in Delhi-NCR, alleging a reduction in their wages due to changes in the payout structu

Swiggy issues a clarification over customers raising concerns of being charged an extra Rs 3 on final billing.  The company has assured  customers it was only a technical glitch. 

It's a technical bug: Swiggy clarifies after platform was accused of charging Rs 3 extra on orders

Swiggy issues a clarification over customers raising concerns of being charged an extra Rs 3 on final billing. &nbsp;The company has assured &nbsp;customers it was only a technical glitch.&nbsp;

Online food delivery platform Swiggy was accused of charging extra Rs 3 after rounding up the total on its orders. CapitalMind Chief Executive Officer Deepak Shenoy and other users raised concerns over Swiggy's billing system.
Swiggy later explained that the issue was a technical bug and assured users were only charged the appropriate amount at checkout. Deepak Shenoy took to X and posted that Swiggy is doing it on purpose and not some random error
<blockquote class="twitter-tweet">
Holy moly. This is actual fraud and I found that <a href="https://twitter.com/Swiggy?ref_src=twsrc%5Etfw">@Swiggy</a> is doing this even for me! Here's my last order and it adds up to 255.60. But they charge 259? This stinks. It can't be some random error, it seems to be on purpose to add rs. 3 extra. What's going on? <a href="https://t.co/kfm9kGaxXO">https://t.co/kfm9kGaxXO</a> <a href="https://t.co/8mTyCZEmom">pic.twitter.com/8mTyCZEmom</a>
&mdash; Deepak Shenoy (@deepakshenoy) <a href="https://twitter.com/deepakshenoy/status/1704877503737987546?ref_src=twsrc%5Etfw">September 21, 2023</a></blockquote>
Another user on Sept 21 posted that Swiggy overcharged him by Rs 3.09 instead of adding 9 paise to make it a whole rupee amount.
<blockquote class="twitter-tweet">
Another <a href="https://twitter.com/hashtag/SwiggyScam?src=hash&amp;ref_src=twsrc%5Etfw">#SwiggyScam</a> 🧵 Recently noticed that all Swiggy txns were for whole figure amounts, while other card txns still had paisa amounts. Dug a bit and discovered <a href="https://twitter.com/Swiggy?ref_src=twsrc%5Etfw">@Swiggy</a> used charge the exact amount to the paisa once upon a time but have since started salami slicing. <a href="https://t.co/5z7K8BjqSs">pic.twitter.com/5z7K8BjqSs</a>
&mdash; ؜ (@kingslyj) <a href="https://twitter.com/kingslyj/status/1704838637966229683?ref_src=twsrc%5Etfw">September 21, 2023</a></blockquote>
Swiggy noted that while the order history page might display incorrect discount amounts, the actual amount paid at checkout adhered to the prescribed discount.&nbsp;
<blockquote class="twitter-tweet">
Some users may note incorrect discount amounts in their order history page. However, users have actually paid as per the prescribed discount amount during the checkout. Customers have paid the correct amount. This discrepancy in order history and actual paid value is due (1/2) <a href="https://t.co/Ywh4TRn350">https://t.co/Ywh4TRn350</a>
&mdash; Swiggy Cares (@SwiggyCares) <a href="https://twitter.com/SwiggyCares/status/1704908210392743948?ref_src=twsrc%5Etfw">September 21, 2023</a></blockquote>
After this Deepak Shenoy amended his initial statement, suggesting that the extra charge was likely just a display error.&nbsp;
<blockquote class="twitter-tweet">
Turns out it might just be a display error. Theres an extra rs 3 discount on every order. Platform fee of rs. 5 discounted to rs 2. But in the invoice it shows plat fee of rs 2 only which is the missing rs. 3. Confused as I don't keep track of what discount I actually got when&hellip;
&mdash; Deepak Shenoy (@deepakshenoy) <a href="https://twitter.com/deepakshenoy/status/1704895267642998802?ref_src=twsrc%5Etfw">September 21, 2023</a></blockquote>

The Kerala High Court has said that children should be encouraged to eat homecooked food instead of ordering from online from food aggregators like Swiggy and Zomato.

No Swiggy or Zomato, let kids taste homecooked food: Kerala HC

The Kerala High Court has said that children should be encouraged to eat homecooked food instead of ordering from food aggregators like Swiggy and Zomato.

Instead of purchasing food from restaurants through &lsquo;swiggy&rsquo; and &lsquo;zomato&rsquo;, let the children taste the delicious food made by their mother, the Kerala High Court has held.
Noting that the digital era has made porn accessible to children, the high court said, &ldquo;Instead of purchasing food from restaurants through &lsquo;swiggy&rsquo; and &lsquo;zomato&rsquo;, let the children taste the delicious food made by their mother and let the children play at playgrounds and come back home to the mesmerising smell of their mother&rsquo;s food. I leave it there to the wisdom of the parents of minor children of this society.&rdquo;
Watching pornographic photographs or videos in one's private time without showing it to others is not an offence under the law as it is a matter of personal choice, the judge ruled.
The high court said that declaring such an act as an offence would amount to intrusion of a person's privacy and interference with his personal choice.
The ruling by Justice P V Kunhikrishnan came while quashing a case of obscenity under Section 292 of the Indian Penal Code against a 33-year-old man who was back in 2016 caught by police while watching porn videos on his mobile phone on the roadside near the Aluva palace here.
The order and ruling came on the accused person's plea to quash the FIR and the court proceedings against him in connection with that.
The court said pornography was in practice for centuries and the new digital age has made it more accessible, even to children.
"The question to be decided in this case is whether a person watching a porn video in his private time without exhibiting it to others amounts to an offence? A court of law cannot declare that the same amounts to an offence for the simple reason that it is his private choice and interference with the same amounts to an intrusion of his privacy," it said.
The court also noted that there was no allegation that the petitioner (accused) publicly exhibited the video.
"I am of the considered opinion that watching an obscene photo by a person in his privacy by itself is not an offence under Section 292 (obscenity) of IPC. Similarly, watching an obscene video by a person from a mobile phone in his privacy is also not an offence under Section 292 IPC.
"If the accused is trying to circulate or distribute or publicly exhibit any obscene video or photos, then the offence under Section 292 IPC is attracted," Justice Kunhikrishnan said.
Therefore, no offence under Section 292 of the IPC is made out against the accused, the court said and quashed all the proceedings in the magisterial court in connection with the case.
At the same time, Justice Kunhikrishnan also cautioned parents against giving mobile phones with internet access to children to make them happy.
"The parents should be aware of the danger behind it. Let the children watch informative news and videos from the mobile phones of their parents in their presence.
"Parents should never hand over mobile phones to minor children to make them happy and thereafter complete their daily routine works in their house allowing unsupervised use of mobile phones by children," the judge said.
Justice Kunhikrishnan said that if minor children end up watching porn videos, which are now accessible in all mobile phones, "there will be far-reaching consequences".
"Let the children play cricket or football or other games they like during their leisure time. That is necessary for a healthy young generation who are to become the beacons of hope of our nation in the future.
Also Watch: <a href="https://www.editorji.com/lifestyle-news/embrace-cozy-cardio-the-tiktok-trend-transforming-daily-workouts-into-bliss-1694424607692">Embrace 'Cozy Cardio': The TikTok trend transforming daily workouts into bliss</a>

A food order that came in while the India-Pakistan match was on stumped Swiggy

User orders 62 biryanis during India-Pakistan match, Swiggy wants to join party

A food order that came in while the India-Pakistan match was on stumped Swiggy

Food delivery giant Swiggy was left stumped after a Bengaluru resident orders 62 biryanis during the India-Pakistan match on September 2.&nbsp;
Swiggy posted about the order on X and wrote, 'someone from bengaluru just ordered 62 units of biryanis?? who are you? where exactly are you? are you hosting a #INDvsPAK match watch-party?? can i come?'
A user teased Swiggy and wrote 'As if you won't know their address? Deliver kaha karoge fir'. Another wrote 'You know who they are'
Some users also jokingly asked Swiggy to send them free food if India wins.&nbsp;

Gogoro partners with Swiggy to introduce electric Smartscooters for eco-friendly last-mile delivery in India

Gogoro and Swiggy team up for greener last-mile delivery with EVs

Gogoro partners with Swiggy to introduce electric Smartscooters for eco-friendly last-mile delivery in India

Gogoro, an electric vehicle battery-swapping solutions provider, has unveiled partnership with Swiggy, India's renowned on-demand convenience delivery platform. This collaboration aims to accelerate the adoption of electric mobility solutions in the last-mile delivery sector across India.
In a joint effort, Gogoro and Swiggy are set to introduce Gogoro's electric Smartscooters to the delivery partners of Swiggy. This move seeks to offer delivery riders a streamlined pathway towards embracing eco-friendly electric transportation options while enhancing operational efficiency for their businesses.
Horace Luke, the Founder and CEO of Gogoro, expressed his optimism about the partnership, stating that teaming up with Swiggy, a prominent player in the industry, is crucial to successfully ushering India's urban fleets into the electric era.
Mihir Shah, Swiggy's Head of Operations, highlighted the significance of the collaboration, emphasizing their commitment to creating greener and more cost-effective solutions for their delivery fleet.&nbsp;
Shah expressed Swiggy's enthusiasm for working alongside Gogoro to drive a sustainable and efficient transformation in the landscape of hyperlocal deliveries in India. Notably, Swiggy had announced its ambitious goal in 2021 to cover a substantial daily distance of 8 lakh kilometers through EV deliveries.
Gogoro's platform introduces a revolutionary two-wheeler battery swapping system, enabling delivery operators to better manage their fleets and deliveries in an environmentally conscious and sustainable manner.&nbsp;
&nbsp;

While Amazon, Flipkart, Paytm and Tata Neu co-branded credit cards offer only 5% of cashback, Swiggy will be offering 10% cashback on all orders placed in Swiggy, Instamart and Dineout 

Swiggy enters co-branded credit card avenue; takes on Amazon & Flipkart with 10% cashback

While Amazon, Flipkart, Paytm and Tata Neu co-branded credit cards offer only 5% of cashback, Swiggy will be offering 10% cashback on all orders placed in Swiggy, Instamart and Dineout&nbsp;

Swiggy has partnered with India's largest private sector lender HDFC bank to launch a co-branded credit card. The card will be hosted on the Mastercard network. The food delivery app has also introduced an eye-catching offer of 10% cashback on all food delivery, grocery delivery under Instamart and its dining out platform Dineout.
The Paytm and Tata Neu cards are also in partnership with HDFC bank. The cashback that Swiggy is offering is much more than its competitors Amazon, Flipkart, Paytm and Tata Neu. These co-branded credit cards offer only 5% of cashback. Swiggy is also set to offer a 5% cashback on &nbsp;shopping across other e-commerce platforms such as Amazon, Flipkart, Myntra, Nykaa, Ola, Uber, PharmEasy, NetMeds, BookmyShow, and several others.
Also Read: <a href="https://www.editorji.com/business-news/mastercard-s-global-plan-to-recycle-credit-cards-1687408564214">Mastercard's global plan to recycle credit cards</a>
This cashback offer, however comes with a catch. The cashback will be in the form of Swiggy money, which will force the customers to use Swiggy more.&nbsp;
The credit card launch and the aggressive cashback offers is happening at a time when Swiggy is gradually losing market share to Zomato and its grocery delivery platform Blinkit. The credit card could help cultivate loyalty and drive up its usage.

The company's statement comes after investors of Swiggy - Invesco and Baron Capital marked down the fair value of their stake in the Bengaluru-based startup

Swiggy’s food delivery business turns profitable in 9 years: CEO

The company's statement comes after investors of Swiggy - Invesco and Baron Capital marked down the fair value of their stake in the Bengaluru-based startup

Day after Swiggy's US-based investor, Baron Capital cuts its valution, food tech startup said that the business has turned profitable in the March quarter of FY23.&nbsp;
Company's co-founder, Sriharsha Majety further adds that this is after factoring in all corporate costs; excluding employee stock option costs.
"This is a milestone for food delivery globally, not just for us, as Swiggy has become one of the very few global food delivery platforms to achieve profitability in less than 9 years since its inception" the company said.
As of March 2023, Swiggy&rsquo;s food delivery biz has turned profitable. Instamart is on track to hit contribution neutrality in the next few weeks, Majety said in a blog post on May 18.

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