Latest news with #ZomatoQuick
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Business Standard
3 days ago
- Business
- Business Standard
BigBasket to launch 10-minute food delivery across India by March 2026
BigBasket, the grocery delivery service backed by Tata Group, plans to launch 10-minute food delivery across India by the end of the financial year 2026. 'One of the advantages we have is, being a part of Tata Group, you have enough internal capital available,' co-founder Vipul Parekh told Reuters. He also confirmed that the company aims to go public within the next 18–24 months. The move comes as India's quick-commerce market, valued at $7.1 billion, sees heightened competition with the rise of new rapid delivery platforms. Targeting quick-commerce rivals BigBasket intends to challenge existing players like Swiggy's Instamart, Blinkit's Bistro, Magicpin's MagicNow, and Zepto Cafe, which offer instant delivery of items such as coffee and ready-to-eat snacks. To support the expansion, BigBasket plans to grow its dark store network from the current 700 to between 1,000 and 1,200 by the end of 2025. A pilot programme for the food delivery service began a month ago in Bengaluru and is expected to extend to 40 dark stores by the end of July. Rising competition in quick food delivery Zepto Cafe was launched in April 2022 with a focus on coffee and ready-to-eat food. Blinkit Bistro, developed by Zomato-owned Blinkit, was released on the Google Play Store on 6 December 2024 and began piloting its 10-minute food delivery service in Gurugram in January 2025. Swiggy's quick food delivery platform, Bolt, expanded to over 500 cities by May 2025 after its launch in October 2024. Its standalone app SNACC, which promises 15-minute delivery, was launched in parts of Bengaluru on 7 January 2025. Zomato Quick, another 10-minute delivery service, was relaunched in January 2025 following the shutdown of Zomato Instant, an earlier pilot from April 2022, which was discontinued due to profitability concerns. Customer strategy and menu BigBasket is targeting existing users of food delivery apps like Zomato and Swiggy, while also aiming to attract new customers, Parekh said. Currently, 5–10 per cent of BigBasket users combine quick-food items with their regular grocery orders — a figure expected to rise. The menu will include items from Tata Group brands such as Starbucks and Qmin. The service will rely on dark stores — strategically located urban warehouses — to quickly process and dispatch online orders.
News18
05-05-2025
- Business
- News18
Swiggy Shares Zoom 10% On Monday; Why Food Tech Stock Up Today?
Last Updated: Swiggy's shares surged 10% intraday on May 05 after expanding its quick food delivery service 'Bolt' to over 500 cities in India. Swiggy Share Price: Swiggy's shares zoomed 10 per cent intraday on Monday, May 05, following two positive news for the food tech delivery company. The sharp surge in the price came after the food tech expanded its quick food delivery service 'Bolt' in over 500 cities across India. Meanwhile, Swiggy is expanding its QFDS 'Bolt, while Zomato, its rival, discontinued its QFDS 'Quick' as announced in the earnings announcement. 'We are actually shutting down both these initiatives (Zomato Quick and Everyday) as we are not seeing the path to profitability in these without compromising on customer experience. The current restaurant density & kitchen infrastructure is not set up for delivering orders in 10 minutes which leads to inconsistent customer experience. As a result, we did not see any incrementality in demand while we ran Quick as an experiment for a few months," Zomato said in the filing. The scrip was trading at Rs 333.55 apiece with a gain of 9.24 per cent at the time of writing this report. Earlier, it opened at Rs 308.70 apiece, against the previous day close at Rs 305.35 apiece. advetisement Launched in October 2024, Bolt has surged across metros as well as Tier 2 and Tier 3 towns, powered by a network of over 45 thousand restaurant brands. In less than 6 months of being launched, Bolt already powers more than 1 in every 10 Food delivery orders delivered by Swiggy. At its core, Bolt is a breakthrough in operational intelligence. It combines smart backend optimization with a curated menu of quick-serve, high-demand items that have minimal or no preparation time. With delivery radius limited to 2 km, the service maintains quality while ensuring reliability. Popular QSR brands like KFC, McDonald's, Subway, Faasos, Burger King, and Curefoods are already live on Bolt, alongside a fast-growing roster of local favourites, the company said in the filing. Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. Stay updated with all the latest news on the Stock Market, including market trends, Sensex and Nifty updates, top gainers and losers, and expert analysis. Get real-time insights, financial reports, and investment strategies—only on News18. First Published:
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Business Standard
02-05-2025
- Business
- Business Standard
Swiggy expands 10-minute food delivery service 'Bolt' to over 500 cities
Swiggy on Friday said its 10-minute food delivery service 'Bolt', which was launched in October last year, is now operational in more than 500 cities across the country. Presently, at least one in every 10 food delivery orders delivered by Swiggy are delivered using the 'Bolt' service. The offering is now available in over 500 cities across India. Swiggy's scaling up of 'Bolt' comes at a time when its rival Eternal, formerly Zomato, has announced shutting down of the 'Zomato Quick' offering, stating it is not seeing the path to profitability without compromising on customer experience, observing that the current restaurant density and kitchen infrastructure is not set up for delivering orders in 10 minutes, leading to inconsistent customer experience. Swiggy Food Marketplace CEO Rohit Kapoor said, "Bolt fits into the way people live today. You're hungry, you want something now, and you don't want to compromise. We built Bolt for that moment. Seeing it scale to 500-plus cities in just a few months has been incredible. And this is just the beginning." 'Bolt' focuses on restaurants in a 2-km radius of the customer and dishes with minimal preparation time.
NDTV
02-05-2025
- Business
- NDTV
Zomato Shuts Down 'Quick' (15-Minute Delivery) And 'Everyday' (Homecooked Meals) Services
Quick Take Summary is AI generated, newsroom reviewed. Eternal is shutting down its Zomato Quick and Everyday businesses. The decision follows a lack of profitability potential in these services. Deepinder Goyal cited infrastructure issues affecting customer experience. Food delivery and quick commerce firm Eternal, which owns the Zomato and Blinkit brands, has announced in its January-March quarter results for fiscal 2024-25 (Q4FY25) that it is shutting its Zomato Quick and Everyday businesses, reported PTI. In a letter to the shareholders, Eternal informed that it is not seeing a path to profitability in Zomato Quick and Everyday businesses without compromising on customer experience. About Zomato Quick As per reports, Zomato Quick was launched in January 2025 across select locations in cities like Mumbai and Bengaluru, offering food deliveries in just 15 minutes. The Quick tab promised curated meals from nearby restaurants within a two-kilometre radius. Elaborating on the shutdown of Zomato Quick, Eternal founder Deepinder Goyal said, "The current restaurant density and kitchen infrastructure is not set up for delivering orders in 10 minutes, which leads to inconsistent customer experience. As a result, we did not see any incrementality in demand while we ran Quick as an experiment for a few months". Also Read: Man Explains Why Zomato Agent Was Eating Customer's Order, Sparks Debate Online About Zomato Everyday Zomato Everyday offered fresh home-style meals crafted with real home chefs at affordable prices. "Our food partners collaborate with the home chefs, who design each recipe with love and care to serve you home-styled, wholesome food at the best prices within minutes," Zomato explained the feature on their blog. Zomato Everyday was available in select areas of Gurgaon only, as per the 2023 blog. Deepinder Goyal admitted that growth does remain below expectations for now, attributing the current slowdown in food delivery to the sluggish demand environment, shortage (temporary) of delivery partners due to the rapid expansion of the industry and competition from quick delivery of packaged food from other platforms.
New Indian Express
01-05-2025
- Business
- New Indian Express
Eternal Q4 net profit declines 78 per cent to Rs 39 crore
BENGALURU: Eternal (formerly known as Zomato) on Thursday reported a 78% decline in its consolidated net profit for the quarter ended March 2025, at Rs 39 crore, compared to Rs 175 crore in the year-ago period. The company's revenue from operations stood at Rs 5,833 crore, marking a 64% year-on-year increase compared to Rs 3,562 crore in the same quarter last year. The company's adjusted EBITDA declined 15% year-on-year to Rs 165 crore, due to the impact of accelerated store expansion in quick commerce. Blinkit added 294 net new stores and is on track to reach 2,000 stores by December 2025. In his letter to shareholders, Deepinder Goyal, Founder & CEO of Eternal, said they are shutting down Zomato Quick and Everyday as they do not see a path to profitability. 'The current restaurant density and kitchen infrastructure are not set up for delivering orders in 10 minutes, which leads to inconsistent customer experience. As a result, we did not see any incrementality in demand while we ran Quick as an experiment for a few months,' he said. 'With Everyday, we realized that the need for homely meals is a limited use case, largely for office locations in metros. We did not see enough ROI to justify keeping it running at a small scale,' he added.
