PROJECT ON SWIGGY …
Entrepreneurship – Defined
• Entrepreneurship is the act of being an entrepreneur, which can be
designed as “one who undertakes innovations, finance and business
acumen in an effort to transform innovations into economic goods.”
• The concept of entrepreneurship has a wide range of meanings. On
the one extreme an entrepreneur is a person of very high aptitude
who pioneers change, possessing characteristics found in only a very
small fraction of the population.
• The word entrepreneur originates from the French word,
entreprendre, which means “to undertake”. In a business context, it
means to start a business.
Characteristics of a successful entrepreneur
1) Disciplined 5) Competitive
These individuals are focused on making their businesses Many companies are formed because an entrepreneur knows that
work, and eliminate any hindrances or distractions to their they can do a job better than another. They need to win at the
goals. They have overarching strategies and outline the sports they play and need to win at the businesses that they create.
tactics to accomplish them. Successful entrepreneurs are An entrepreneur will highlight their own company’s track record of
disciplined enough to take steps every day toward the success.
achievement of their objectives.
6)Creativity
2)Confidence
One facet of creativity is being able to make connections between
The entrepreneur does not ask questions about whether seemingly unrelated events or situations. Entrepreneurs often
they can succeed or whether they are worthy of success. come up with solutions which are the synthesis of other items.
They are confident with the knowledge that they will make They will repurpose products to market them to new industries.
their businesses succeed. They exude that confidence in
everything they do. 7)Determination
3)Open Minded Entrepreneurs are not thwarted by their defeats. They look at
defeat as an opportunity for success. They are determined to make
Entrepreneurs realize that every event and situation is a all of their endeavors succeed, so will try and try again until it does.
business opportunity. Ideas are constantly being generated Successful entrepreneurs do not believe that something cannot be
about workflows and efficiency, people skills and potential done.
new businesses. They have the ability to look at everything
around them and focus it toward their goals. 8)Strong people skills
4)Self Starter The entrepreneur has strong communication skills to sell the
product and motivate employees. Most successful entrepreneurs
Entrepreneurs know that if something needs to be done, know how to motivate their employees so the business grows
they should start it themselves. They set the parameters and overall. They are very good at highlighting the benefits of any
make sure that projects follow that path. They are proactive, situation and coaching others to their success.
not waiting for someone to give them permission.
Swiggy
Swiggy provides on-demand food delivery platform designed to
provide food from neighborhood restaurants to the people. The
Company’s platform utilizes a smartphone application that has
local restaurants and their online ordering menu listed, from
which it provides delivery using a fleet of personnel, enabling
people to order food at their convenient places.
Brief History about Swiggy
Swiggy was founded by the trio of Rahul Jaimini, Sriharsha Majety and
Nandan Reddy. Swiggy begin its initial round of operations in
Bengaluru, they focused specifically on Koramangala which is one of
the upcoming neighborhoods in Bengaluru. They initially started
delivering with just six delivery executives and with only 25 restaurants
on its platform. Over a period of time, their business grew steadily with
currently 6000 delivery executives operating across Delhi, Mumbai,
Hyderabad, Chennai, Kolkata and Pune. This application was initiated in
the year 2014.
NANDAN REDDY
SHRIHARSHA MAJETY
Co-Founders (L-to-R) RAHUL JAIMANI
Sriharsha Majety
Vision Education
• Between 2003 and 2008 Sriharsha studied Electrical
and Electronics Engineering and [Link]. in Physics
• Vision to revolutionize the from BITS –Pilani. Thereafter he cleared level II of
CFA program before deciding to pursue PGDM in
restaurant industry in India, by Finance from IIM-Calcutta.
familiarizing the general public • Sriharsha Majety was employed as Summer Analyst
at Nomura International (a securities broker/dealer
with the comfort of home- firm) for a brief period in 2010. Later in 2011, he
joined the London office of Nomura International as
delivered food. an associate at the rates trading desk. He left this
job after one year and decided to move back to
India to startup.
• Between August 2013 and June 2014, Sriharsha
with his mate from BITS Pilani, Nandan Reddy,
opened a logistics aggregator company to help e-
commerce firms. They named this company Bundl
Technologies. The idea did not take off and they
had to soon shut shop. Within next few months
Sriharsha launched Swiggy. There has been no
looking back for him since then.
Rahul Jaimani
Work Experience ( Before Swiggy) Education
• Software engineer at • IIT Kharagpur, Dual degree
[Link] ([Link]+ [Link]) in Computer
• Senior engineer at [Link] science and engineering.
• Member technical staff at • Modi Public School, Kota (2003-
Netapp 05)
• Member technical staff – 2 at
Netapp
Nandan Reddy
Work Experience (Before Swiggy) Education
• Founder Zurna (40 seater • Birla institute of technology, MSc
hyderabadi restaurant in in Physics
Somajiguda. It was ranked (2005-2010)
among top 10 by TOI)
Swiggy Management Team
How was Swiggy started?
• After tasting bitter failure in Bundl • Swiggy, a food-ordering and delivery
Technologies, a logistics aggregator start-up, was founded by Majety and
for e-commerce companies which Reddy in Bengaluru in August 2014.
shut down in June-2014 as the The duo reached out to IIT-Kharagpur
traction was low in that sector, BITS- alumnus Rahul Jaimini, who had quit
Pilani alumni Sriharsha Majety and his job at Myntra and was looking for
Nandan Reddy decided to focus on an opportunity to turn entrepreneur.
the hyper local delivery business, an All three decided to implement this
area where there were no players idea of Swiggy.
offering a complete food-ordering
and delivery solution.
Success for Swiggy
• One of the main reasons for their success is their business model. Swiggy
has its own set of delivery executives who are equipped with a smart
phone and a Swiggy app which thereby helps the user to track their
delivery through map integration. Swiggy doesn’t have minimum order
policy, which makes it more affordable for users apart from that they
charge a delivery fee.
• On orders higher than the original amount, Swiggy takes commission from
the restaurant. Usually, Swiggy lists restaurants on their website which
gives only 15-25% commission on orders. Swiggy differentiates itself from
other competitors like Zomato and Food Panda by specializing in food
delivery services rather than food ordering services. Minimum delivery
time for Swiggy is just 37 minutes which is pretty high and they stand just
next to Domino’s who deliver in 30 minutes.
How does Swiggy work?
• Swiggy offers a integrated ordering solution by deploying multiple
proprietary apps, including a vendor management app provided to
restaurant partners, and a delivery app powered with routing
algorithms, provided to driver partners.
• When a consumer places an order with Swiggy through the iOS or
Android apps or website, the order is immediately transmitted to
the merchant and the right driver, based on availability and
distance from the restaurant, is attached to the delivery.
• The merchant confirms receipt of the order and starts preparing
the food, while the driver reaches just in time at the restaurant to
collect the prepared food and deliver to the customer. In-app
navigation facilitates hassle-free delivery.
Mission of Mr. Majety
• "Swiggy's goal is to revolutionize the food delivery market in India by
providing a cheap, fast and efficient alternative to taxing the already
short-staffed restaurateurs. There are several existing and even more
upcoming food-ordering platforms in the country, However, Swiggy
sets itself apart from the competitors by having their own delivery
fleet, thereby minimizing the risks in delivering an order," claims
Majety.
• Swiggy currently has 650 delivery executives from diverse
backgrounds - college students working as part-time and full-time
employees.
Funding to the start-up
• Swiggy had raised $2 million from venture capital funds SAIF
Partners and Accel Partners in April 2015, and $16.5 million in
a Series-B round from Norwest Venture Partners (NVP) and
existing investors SAIF and Accel in June this year.
• The company proposes to utilize these funds to consolidate its
footing in restaurant delivery and expand rapidly across the
country.
• Russian billionaire Yuri Milner, who had earlier invested in
Facebook, Ola, [Link] and Xiaomi, is said to have been
looking at backing Swiggy. However, no comments are made
on the same.
Most recent funding (08/02/2018)
• Swiggy said it has raised $ 100 million in a Series F funding round led
by Naspers, the global internet and entertainment group. New
investor Meituan-Dianping, China's largest group-buying and
restaurant review service, has also participated in this round. This is
the largest financing round yet for the Bengaluru-based company.
• With this new funding, Swiggy said it will further strengthen its
market leadership position by introducing a host of unique and
advanced products and services. It will also make investments in its
new supply business line to solve existing supply gaps in the
marketplace.
Future targets of the company
• Swiggy said it will also continue innovating its core technology platform,
especially in the areas of data-driven self-learning systems that leverage
machine learning and artificial intelligence. The company said it will build
on its adaptive, real-time prediction and optimization systems. This will
further improve consumer choice and personalization, along with speed,
volume and efficiency of deliveries, according to the firm. Currently, the
company promises to deliver food in about 35 minutes.
• Since the last round of funding, Swiggy has introduced a slew of new
initiatives like Swiggy Access,' long-distance deliveries’ and 'Capital Assist'
to help restaurants serve consumers in new and more powerful ways. The
company also strengthened its senior leadership with several additions to
the team
Swiggy Access – Explained by Mr. Majety
• Swiggy Access is a sales model for restaurants to expand into areas
which they want to but cannot because of capital issues. Restaurants
don’t have to invest in terms of real estate but can quickly launch in a
certain area. It aims to provide consumers with the choicest food
options in their neighborhood, along with Swiggy’s seamless delivery.
These ready-to-occupy kitchens will offer restaurant partners a basic
setup with the required amenities. No rent or deposit will be charged
for premises. Partners will be able to leverage Swiggy insights to
improve their food quality through consistent consumer feedback.
We have launched a restaurant insights app for owners where they
can get real-time information on how their business is doing.
Capital assist – A step towards advancement
• Swiggy has decided to join hands • Swiggy will focus on small- and
with fintech company Indifi medium- scale restaurants, who
Technologies to provide working are looking for funds to expand
capital loans for its partner their business in the market.
restaurant under Swiggy Capital • The process is relatively simpler as
Assist. there is just a form to fill and then
• With more than 18000 restaurants Indifi will complete the credit
under its belt, the online food evaluation within 24 hours and the
delivery platform will provide entire loan will be given in a week’s
capital especially to the restaurants time without initial deposits at a
who are running small- and fair interest rate.
medium- scale business.
Success of the programme launched
• Since launching its pilot in mid-September, • “Swiggy has had a tremendously positive
the program has received over 200 impact on our business over the last two
applications from restaurant partners across years,” said Reevu Wangi, owner of Momo I
the eight Swiggy cities, namely Delhi, am, Kolkata. “We were unable to secure
Mumbai, Bangalore, NCR, Hyderabad, sufficient capital through traditional funding
Kolkata, Pune and Chennai. methods, and this infusion of capital through
• “As a self-employed new restaurateur, it was Swiggy Capital Assist has come at the right
a challenge to get a loan as banks require a moment for us. The loan will enable us to
lot of documentation for any substantial execute our plans for opening more outlets of
personal loan, let alone business loans when Momo I am in the city.”
you don’t have a collateral to provide,” said
Amit Roy, owner of Peetuk, Mumbai. “Once I
applied through Swiggy Capital Assist, I was
surprised by the swift processing of my loan
in under two weeks, that too at a nominal
interest rate. With this loan, we have opened
our fourth outlet, and will surely approach
Swiggy when we’re ready for the fifth.”
Majety’s goals in 2018
• Our mission is to change the way India eats apart from servicing the
customer better than last year and widening the assortment to
enable users to order on a higher frequency. Swiggy wants to be like a
utility app for every Indian. We want people to order food at least 15-
20 times a month.
• That can only happen if you solve deep problems and not just act as
an occasional food delivery provider. For us, it is about how we
balance growth and customer service in the long run.
Thanks!
• Submitted to : Ms. Shafali
• Submitted by : Yogesh Kumar Mittal
• Class : [Link]. LL.B.
• Roll No. : 176/15
• Section :C