Swiggy, Indian online food ordering and delivery platform has acquired Mumbai-based on-demand delivery platform Scootsy. It has been done in an all-cash deal. Swiggy made this announcement on Thursday. As per the sources, this acquisition has been done in approximately ₹ 50 crore. This acquisition by Swiggy will strengthen Scootsy’s curated restaurant network and help the brand expand to newer cities.
Reason behind acquisition
Swiggy has made this acquisition with a vision to expand its services. It is looking forward to start delivery in diversified categories. This acquisition will extend the breadth and selection of Swiggy’s existing network of 40,000 restaurants by adding more curated restaurants to it.
Swiggy CEO on Scootsy acquisition
Sriharsha Mehta, said, “Scootsy enjoys loyalty from both its restaurant partners and the consumer. With a shared belief of providing a superior user experience, its addition will extend the convenience and reliability that Swiggy is synonymous with.”
Scootsy is a Mumbai-based delivery platform. It’s an intra-city platform that provides delivers gourmet food, toys, beauty products, electronics and other items to the customer’s doorstep. It was founded in 2015 and it will continue as an independent app even after acquisition.
Swiggy was founded back in year 2014. With the help of 40,000 delivery executives, it offers its food delivery services across 15 Indian cities with over 35,000 restaurant partners. The company raised $210 million from South African internet giant Naspers and Russian billionaire Yuri Milner-led investment firm DST Global.