Swiggy CEO Says Ready to Act Fast as Rapido Enters Food Delivery Market

As Rapido readies to enter India's saturated food ordering space, Swiggy CEO Sriharsha Majety has said the company is "super agile and paranoid," willing to move quickly if fresh opportunities present themselves. Attending a Prosus investor event in London, Majety said Swiggy continues to be receptive to grabbing new growth opportunities, even in the face of the industry's challenges.

Referring to previous entrants such as Uber, Ola, Amazon, and ONDC, Majety stated that food delivery is tough to break into, no matter the support. "Credit to us and Zomato for keeping ground through all this," he stated. Although Swiggy has a 15% share in Rapido and has a shared investor in Prosus, Majety added that both companies will "chart its own path."

Key Highlights

• Swiggy CEO says company will act quickly if new opportunity arises
• Rapido enters food delivery with lower commission than rivals
• Quick commerce market may grow to 40 billion but support only few players

Rapido is said to have in mind a commission structure lower than standard market rates, paying restaurants Rs 25 for orders below Rs 400 and Rs 50 for orders above, as opposed to Swiggy and Zomato's 16–30% band.

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On quick commerce, Majety forecasted the market to reach $30–40 billion in the next 3–5 years but opined that only two or three big players will dominate. Swiggy's Instamart, Zepto, and Blinkit now lead the segment with almost 90% of market share. Some consolidation will be on the cards.