Swiggy Food CEO Rohit Kapoor sees Bolt as core future offering
Swiggy is banking on its 10-minute food delivery service, Bolt, to boost growth and market share in the food delivery sector, despite Zomato's exit from a similar venture. Bolt contributes 12% to Swiggy's food delivery volumes, with the company highlighting improved user retention through the platform. However, increased spending on quick commerce has widened Swiggy's net losses.
Swiggy is banking on its 10-minute food delivery service, Bolt, to boost growth and market share in the food delivery sector, despite Zomato's exit from a similar venture. Bolt contributes 12% to Swiggy's food delivery volumes, with the company highlighting improved user retention through the platform. However, increased spending on quick commerce has widened Swiggy's net losses.
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