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

Food tech market is 50B+ ( duopoly) Most of my friends use swiggy for everything like food, groceries and dine out. They say Zomato sucks in ui ux and 3rd grade restaurants are there at Zomato, swiggy is better at offers and quality restaurants. Zomato peak stock value was 180inr, which makes it a 15B firm, by that logic swiggy can get even 20B ipo. PS - Baron capital already raised swiggy valuation to 13.9B usd What do u think guys?

- Zomato grew faster than Swiggy in July, with a 29% YoY increase compared to Swiggy's 11%, according to UBS analysts. - Zomato's MoM order growth was 1.6%, while Swiggy saw a 4.6% decline, leading to increased market share for Zomato. - Zomato's market share in India's food delivery sector is estimated at 55%, while Swiggy's has slipped to 45%. - Zomato has reported five consecutive quarters of net profits, whereas Swiggy logged an operating loss of over Rs 1,000 crore in the first nine months of FY24. - Swiggy CEO Sriharsha Majety acknowledged the pros and cons of having a listed competitor like Zomato, noting the constant comparisons but also the benefits of market awareness. Source: [Moneycontrol](https://www.moneycontrol.com/news/business/startup/zomato-grew-faster-than-ipo-bound-swiggy-gained-more-market-share-in-july-12801796.html)

This is based on an analysis of 24 K reviews on iPhone & Android phones between Jan to Nov 2023 conducted by Clootrack. The results though look a lot skewed as Zomato outperforms Swiggy by 3-4X in every parameter, How do you look at these results, Do you agree with this analysis?

- Swiggy's revenue grew 36 percent from Rs 8,265 crore in FY23 to Rs 11,247 crore in FY24. - Despite the growth, Swiggy still lagged behind Zomato, which had a revenue of Rs 12,114 crore and a profit of Rs 351 crore. - Swiggy's losses were reduced by 44 percent, from Rs 4,179 crore to Rs 2,350 crore, due to better expense control. - The company spent Rs 13,947 crore in FY24, 8 percent less than the previous year, mainly by cutting promotion and marketing costs. - Swiggy's Instamart, however, lagged behind Zomato's Blinkit in quick commerce, with revenues of Rs 1,100 crore versus Blinkit's Rs 2,301 crore. Source: [Moneycontrol](https://www.moneycontrol.com/news/business/startup/swiggy-narrows-gap-with-zomato-on-revenue-food-delivery-business-grew-36-to-rs-11247-crore-in-fy24-12814599.html)

Some comparisons: - Swiggy’s trading losses reduced to $158mn during FY24 while Zomato reported a positive Ebitda of c.$5mn during FY24. - Swiggy’s GOV growing at 26% YoY vs Zomato at 36% - Swiggy had 387,000 active delivery partners vs 418,000 for Zomato - Swiggy Instamart had 487 active dark stores compared to 526 for Blinkit - Swiggy’s overall revenue growth of 24% YoY was lower than Zomato’s adjusted revenue growth of 55.9% YoY. 😎

Swiggy has pleasantly surprised me.. have to say. I thought they are a far second. What do you think? https://thearcweb.com/article/swiggys-revenues-hit-14-bn-in-fy24-losses-fall-44-RKqwp7rvJZiL2QOu

VC here. Doing this for fun. Don't take all views seriously.