Swiggy's stock has recently fallen below its IPO price and previous private valuation, primarily due to increasing losses and a declining market position in quick commerce. The company's latest quarterly results revealed that its quick-commerce branch, Instamart, lost market share despite initiatives for expansion and marketing. As competitor Zomato's Blinkit sharply outperformed Instamart in gross order value, analysts predict heightened competition among quick-commerce companies until at least mid-2025. This shift in market dynamics reflects concerns over Swiggy's sustainability in a rapidly evolving sector dominated by well-capitalized rivals.
Swiggy’s stock fell below its IPO price and private valuation due to growing losses and lagging market share in quick commerce amid rising competition.
The company's quick-commerce unit Instamart lost significant market share, despite Swiggy's efforts to expand and increase marketing spending.
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