Swiggy, an online food-ordering and delivery start-up, is owned and operated by Bundl Technologies Private Limited. They have reported their results for the FY 14-15 and they are not much different from other online food ordering startups.

Financial Performance

The company reported revenue of INR 11.6 lacs against a loss of INR 2.1 crores. The revenue from operations stood at INR 7 lacs. The revenue comprises the delivery fees charged to restaurants and ‘e-commerce revenue’. The biggest expense for the company was the employee expense at INR 1.3 crores.

Swiggy mainly competes with Foodpanda, TinyOwl, Faaso’s and now Zomato, when it entered the food delivery segment last year. Following is a comparison of FY 14-15 revenue and PAT of ley players in food-tech. Zomato has not been included since it has primarily been a restaurant search and discovery platform and thus is not exactly comparable with the others.

Story so far

Swiggy was founded by Sriharsha Majety, Rahul Jaimini and Nandan Reddy in December, 2013 in Bengaluru and became operational in FY 14-15. It enlists restaurants from nearby location to the customers who can then select and place order through its app or the website. It has dedicated delivery personnel to pick up orders from restaurants and deliver them to the customers. Swiggy now has its operations in 8 cities across India.

Funding

Swiggy secured its first funding from SAIF Partners in January 2015 followed by a funding round of INR 100 crores in June. The company has raised a total funding of INR 113.6 crores so far, from SAIF Partners, Accel, Norwest Venture and Apoletto Asia. Here is a snapshot of total funding raised by Swiggy and its competitors in foodtech.

With most of the players at almost similar stages, there is no clear leader so far in the online food ordering space. Although Zomato is way ahead of anyone in the restaurant search and discovery space, they have only just begun their food ordering operations. A few of the players such as Dazo, Spponjoy, etc. have already shut shop and there could be more such cases or industry consolidation. With heavy funding, this sector has already garnered everybody’s attention and it would be interesting to see how the space emerges.

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This article was originally published here by Team Tofler.

Author– Vishal, a Sci-fi enthusiast, engineer by mistake and writer by choice, combines his eye for numbers with a natural flair for storytelling to churn out Tofler’s blogs.

Editor –  Anchal, co-founder at Tofler, is a CA, CS and has more than 5 years experience in company analysis. She likes to explore and track companies, their performance and senior management.

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While Zomato’s sales team is probably working hard to allay their CEO worries about meeting their sales target, Tofler takes a look at how they have performed in the past!

Zomato, incorporated in 2010, was co-founded by Deepinder Goyal and Pankaj Chaddah. It provides a restaurant search and discovery service through its website and mobile app. Zomato is present across 23 countries including India, UK, US, Australia, etc. and claims to be used in over 10,000 cities.

Zomato Media Private Limited, the owner company of Zomato, has filed its latest revenue figures with the Registrar of Companies. It has reported a revenue of INR 95 crores in FY 2014-15. This is more than 2.5 times the previous year’s revenue of INR 36 crores.

Financial performance of Zomato

Out of the reported revenue of INR 95 crores in FY 2014-15, INR 78 crores has been reported as ‘Revenue from advertisements ‘. Remaining INR 16 crores is reported to be from other sources, these include INR 14.7 crores from ‘Net gain on sale current investment’ and INR 1.4 crores from bank deposits. The company incurred expenses of INR 166 crores in FY 2014-15, thus making a loss of INR 72 crores as compared to a loss of INR 37 crores in the previous fiscal.

Out of INR 166 crores, the biggest expense for the company is employee expense at INR 98 crores. As per their website, their team comprises of over 2000 ‘Zomans’. The company was in the news recently for firing 300 employees.

The following graph summarizes their financial performance over the past 5 years:

Shareholding Pattern

Info Edge (India) Limited is the largest shareholder in Zomato with 45.3%. The founders own 19.92% shares in the company. The shareholding pattern is as below:

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With a series of international acquisitions in food-tech space over the past two years and its foray into the online food ordering this year, Zomato seems to be all set to be one of the global leaders in this space.

This article was originally published here by Team Tofler.

Author– Vishal, a Sci-fi enthusiast, engineer by mistake and writer by choice, combines his eye for numbers with natural flair for storytelling to churn out Tofler’s blogs.

Editor –  Anchal, founder at Tofler, is a CA, CS and has more than 5 years experience in company analysis. She likes to explore and track companies, their performance and senior management.