In December 2019, where Swiggy trailed with 45-49 million orders, Zomato delivered 32-36 million orders. But the losses for online food delivery startup Swiggy jumped to over Rs 2,000 crore in 2019. Whereas Swiggy's rival company Zomato,s losses raised to Rs 570.52 crore in FY19. Swiggy's advantages are it operates only in India and is a delivery-first company here. According to data sourced from Kalagato, Zomato's average order value (AOV) stood between Rs 252-Rs 278 during October-December 2019, while wiggy ranged anywhere between Rs 243- Rs 300.
Unicorn startup OYO is facing a heavy loss now. In this current situation, the Oyo is making a significant reduction in its workforce. The company is cutting 5,000 jobs from India, China, Japan, and the US. As a report, 1,200 people in India fired in phases between December and February. Recently, the outbreak of coronavirus destroyed China's economy, the second-largest market in the world. Now, this cut brings mountain-like problems in front of them.
Qure.ai, healthcare startup announced on Thursday that it has raised $16 million in a funding round led by Sequoia India and supported by MassMutual Ventures Southeast Asia. It will use this new capital to drive geographical expansion, expand product portfolio and support regulatory clearances. A few companies have achieved this level of both academic and real-world validation in this category. It is leading across multiple use-cases and modalities.
Zomato is using social media platforms along with television to give food covetous looks. So that they generate craving in foodies' minds. For this purpose, They started a new campaign titled Mat Kar Ichha Control, Zomato Khol. Through this campaign, they are giving their message that users can take advantage of its app and fulfill the food cravings. They run this campaign also on Twitter and Instagram to amplify digital conversations, including interactive digital engagements.
Oyo Hotels and Homes, the operator of India’s largest network of hotels, is in talks with financial institutions to borrow $200 million to buy premium and luxury hotels in the US. The company, which bought Hooters Casino Hotel in Las Vegas last month, has identified the premium hotels segment as its area of focus outside India, the people said on condition of anonymity. Agarwal is now spending a major part of his time in the US to expand Oyo’s presence in the world’s largest economy.
Members of the National Restaurant Association of India (NRAI) met with top executives of online food aggregators Swiggy and Zomato on Friday in a set of meetings that “progressed well" even as the NRAI continues to hold its grouse against Zomato’s Gold program that the association says remains unacceptable in its current form. Zomato Gold, a membership-only dine-in program has remained a sore point between restaurants and the aggregator as eateries have complained that such a program was creating pressure on their margins with deal-hunting diners availing benefits of the program that offered complimentary drinks and food to members.
The world’s largest professional network, LinkedIn, announced the "2019 LinkedIn Top 10 most-wanted startups" list for India. Topping the first edition of this list is five-year-old hospitality startup OYO followed by health startup Cure.Fit, and TapChief. As per LinkedIn report, the top 25 start-ups collectively created about 18,000 jobs in the past one year, and are expected to create more than 19,000 new employment opportunities in the coming 12 months. OYO Hotels and Homes, is one of the startup in the list that turned Unicorn.
Uber has given pink slips to 435 employees, most from product and engineering, on the back of continued losses. The move cuts the team’s strength by 8 percent and is the startup’s second round of layoffs since it fired 400 employees in July. Uber Chief Executive Dara Khosrowshahi said, “the company has gone off course as it grew and must streamline to regain its competitive edge.” Despite boasting around 100 million users worldwide, Uber stayed in the red as the company’s business model failed to turn profits. It registered $5.2 billion in losses and its slowest revenue growth ever.
Under Asia's richest man, Mukesh Ambani, Reliance Industries is pivoting from an oil-led conglomerate into a more consumer-facing company, selling everything from handbags to broadband to try to tap into Indians' rising disposable incomes. Reliance Brands already runs high-end stores in India with some 40 foreign partners, including British label Burberry , shoemaker Steve Madden and New York-based Iconix Brand Group Inc, through joint ventures and franchises. It also wrapped up its first international acquisition in May, buying Hamleys, the world's oldest toy retailer, for $88.5 million. Company is targeting multi-brand sports, wellness and fitness, men's beauty products.
Chandrayaan-2 is geared up for a soft landing on Moon in early hours of Saturday. If successful, it would make India the first country to land South pole of Moon surface and the fourth overall on the Moon surface. This will not only increase the stature of ISRO, but also open up opportunities for listed companies like L&T and Lakshmi Machine Works that contributed to manufacturing of critical parts. Godrej Aerospace, Ananth Technologies, MTAR Technologies, Inox Technologies, Centum Avasarala and Karnataka Hybrid Microdevices are among a few unlisted firms that contributed their bit to the project.