Food ordering with ONDC via Ola going to impact Zomoto Swiggy

Has anyone used ONDC? Does it have any app? It was mentioned somewhere that it heavily reduces delivery costs and prices are better than swiggy and Zomato.

Has anyone tried ONDC for ordering food? How was your experience with it

- ONDC now facilitates 60,000 food orders per day, capturing 3% of Swiggy and Zomato's individual order volumes across India. - On July 7, 2024, ONDC set a record with 38,000 daily food orders in Bengaluru, representing 17% of Swiggy and Zomato's individual daily volumes in the city. - Flipkart is in active talks with ONDC to integrate food and beverage orders, potentially allowing users to order from restaurants like Dominos and McDonald's via the Flipkart app. - ONDC has been in discussions with the National Restaurants Association of India for improved last-mile connectivity and order tracking. - According to a report, ONDC recorded 10 million transactions in June, with non-mobility orders showing significant growth, and has reduced financial incentives for network participants by up to 75%. Source: Economic Times

Zomato delivered another great set of results. Now they are adding 250Cr cash every quarter. The company hit two benchmarks this quarter according to my calculations, 50,000 Cr worth of orders (4x Q3) and 100 Cr orders (4x Q3), and these are growing 25-30% year on year. Why is this interesting? As some of you might know, they have started adding platform fees to the orders. Even one more rupee of platform fee will add 100 Cr to EBITDA. So, if they increase fees from 5 to 10, that's 500 Cr more EBITDA every year. Now, If you look at this quarter's results vs last quarter's results, they have added ~3600 Cr of order value, and made 380 Cr of EBITDA (this does not include Events). Which means they are making 10% as EBITDA. In next 3 years, if Zomato doubles their order value to 1,00,000 Cr, and even make 8% EBITDA, this could mean 8000 Cr EBITDA (almost 1 billion dollars). What markets will give as multiple on this, is guess work. Could be 25-40x (Don't hold me on this). Hence the stock looks undervalued from a 3 year lens

Ordered cause it showed free delivery, they didn't deliver even after 5 hours, while from this restaurant previously order through Paytm app ondc section it was delivered. There's no update on support ticket created from ola app. If things remain like this ONDC for food would fail at scale, it's crap experience end to end. fyi I know same restaurant is on zomato/swiggy, default option less cognitive load and faster deliveries, don't know what I thought before using ondc.

Thoughts?

Swiggy was valued at $10B a couple of months back. Good luck employees waiting for ESOP buy-back in July 2023. Your shares are now worth half of what it used to be! https://www.moneycontrol.com/news/business/invesco-cuts-swiggys-valuation-to-5-5-bn-2nd-markdown-in-4-months-10549051.html

ONDC seem Big threat for Swiggy/Zomato , Amazon/Flip kart, Dunzo /zepto/ blinkit/ big basket. How will these e commerce giants (already operating on huge loss) survive now