How dining and events could be Swiggy’s next growth engine
Subscribe to enjoy similar stories. MUMBAI : After delivering nearly everything—from midnight cravings to daily essentials to electronics—the IPO-bound Swiggy also hopes to make money by being a part of your dining-out experience.
It has been nudging consumers with attractive discounts to eat out since 2022 when it acquired dining out and restaurant tech platform Dineout from Times Internet, reportedly for $200 million in an all-equity deal. It aimed to capitalize on Dineout's network of 50,000 restaurant partners by integrating it with the Swiggy app, which had 15.99 million average monthly transacting users as of June end.
Despite entering the space years after its listed rival Zomato Ltd, Swiggy’s out-of-home consumption vertical—including Dineout for table reservations and SteppinOut for events ticket booking—generated a gross revenue of ₹45.8 crore in the June quarter of 2024-25. Though just a fraction of Swiggy’s overall first-quarter revenue of ₹3,222, the food-tech company sees immense potential in the dining-out business.
“Most of these branded restaurants are on online food delivery platforms as online discovery has become increasingly important to attract a wider consumer base with digitally-native consumers turning to these platforms for dining out decisions," it said in its IPO filing on 26 September. However, making money from a vertical that is still a small part of its much older and now profitable rival is easier said than done.
Zomato, which acquired Paytm’s events ticketing business for ₹2,048.4 crore in August, has been doubling down on its going-out business. It claims the dining-out business is now operating at a run-rate of over ₹4,184 crore annualised gross order value (GOV)—a metric that
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