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Q&A with Swiggy leaders ahead of IPO; Sanjeev Bikhchandani on AI rising
- Foodtech unicorn Swiggy is going public soon and its leaders are on a roadshow covering 25 cities across India to woo retail investors.
- Swiggy’s quick commerce arm is expected to outpace its core food delivery business and reach over 40% of Swiggy’s food delivery business in terms of gross order volumes in four years.
- In the same report, SoftBank CEO Masayoshi Son said that he is bullish on Swiggy’s prospects and believes that the startup can lead the delivery and food commerce market.
- Two-wheeler maker Hero MotoCorp clocked its highest-ever festive sales this year, with the rural segment catching up with the urban category. The season also gave relief to other automakers as the vehicle inventory—which had piled up to 7.9 lakh vehicles—was brought down by record sales.
- Sanjeev Bikhchandani, Founder and Executive Chairman of Info Edge (India), believes startups will increasingly use AI in the coming years.
- Bikhchandani says India has a strong need for vertical AI applications, and educational institutes and academia can help push young entrepreneurs towards riding this wave.
- Himalayan Blooms, founded by Pratibha Krishnaiah, recognises a talent for knitting and crocheting in Khetikhan, Uttarakhand, and began providing training and opportunities to women to become skilled artisans. Its empire has now grown to 250 women across 40 villages in the region.
- Boeing workers will vote on a third contract agreement that could end a seven-week strike that has halted production at the troubled planemaker.
- The Indian rupee touched its weakest level on record on Monday, as persistent equity outflows blunted the impact of a weaker dollar that helped lift the currency's regional peers ahead of the US presidential election. The rupee closed at 84.1150 against the US dollar.
- The Great Fire of London in 1666 was the pivotal moment that led to the development of modern insurance practices.
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