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Inside Rapido’s Food Delivery Play: Can ‘Ownly’ Break Zomato-Swiggy Duopoly?
- Rapido is set to launch its food delivery platform Ownly, partnering with NRAI-affiliated restaurants and taking on Zomato and Swiggy's duopoly.
- Ownly will not charge commissions from restaurant partners and will have fixed delivery charges per order, starting its pilot in Bengaluru by June 2025.
- The platform aims to provide a level-playing field for restaurants, offering affordable meal options and no pricing differences between offline and online menus.
- Rapido plans to monetize through nominal delivery fees from restaurants and may introduce a flat subscription fee in the future.
- Unlike Zomato and Swiggy, Rapido focuses on price and product value for consumers, rather than discounts.
- The company aims to disrupt the food delivery market with its transparency in pricing and data, challenging the dominance of the existing players.
- Rapido's success in the ride-hailing sector with zero-commission models suggests potential success in the food delivery space.
- Rapido's foray into food delivery comes after raising $200 Mn in funding, aiming to close FY25 with INR 1,000 Cr in revenue.
- Rapido Ownly's model mirrors NRAI's past efforts like ONDC, but aims to provide a more integrated and competitive alternative to Zomato and Swiggy.
- While challenges exist, including previous failed attempts by others in the industry, Rapido's approach with Ownly presents a new contender in the food delivery market.
- If successful, Rapido's entry could potentially disrupt the dominance of Zomato and Swiggy, providing a credible challenge to the existing duopoly.
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