Zomato Gains Market Share in South, Challenging IPO-bound Swiggy

• Zomato's market share in India's food delivery sector has risen to around 55 percent, according to various brokerage firms.
• Swiggy, which once dominated with a 52 percent market share in 2020, has seen its share fall to 45 percent.
• Zomato's management reported a significant increase in market share in Southern cities during an earnings call.
• The company attributes its success to early investments in non-metro cities, despite initial concerns about profitability.
• This shift comes as Swiggy prepares for its initial public offering, facing increased competition from Zomato.

Source: Moneycontrol