CONNECT WITH US
eCommerce

eCommerce

Swiggy CEO Sriharsha Majety says rival Blinkit has the stronger flywheel, aims to fix basics before expanding

ET Retail – Ecommerce logo

Published on

Add as a preferred source on Google
Swiggy CEO Sriharsha Majety says rival Blinkit has the stronger flywheel, aims to fix basics before expanding

Swiggy CEO Sriharsha Majety says rival Blinkit has the stronger flywheel, aims to fix basics before expanding

He said Swiggy’s priority is a stable business with “the clearest line of sight to Ebitda zero,” and that it would not use its cash reserves to open new fronts simply because the money is available. “I think our first job is to build a stable, resilient business that has the clearest line of sight to EBITDA zero. The optionalities come after that,” he said on the call following the announcement of the company's September quarter results.

Swiggy CEO Sriharsha Majety acknowledged quick commerce rival Blinkit's edge in in building a more resilient business, saying Swiggy must first strengthen its own before pursuing new bets. “Blinkit enjoys a pretty strong flywheel that has been compounding over the years. That is the reason why they’ve been able to build a more resilient business,” Majety said on the company’s earnings call, responding to an analyst’s question. He said Swiggy’s priority is a stable business with “the clearest line of sight to Ebitda zero,” and that it would not use its cash reserves to open new fronts simply because the money is available. “I think our first job is to build a stable, resilient business that has the clearest line of sight to EBITDA zero. The optionalities come after that,” he said on the call following the announcement of the company's September quarter results. Advt

Majety said skipping that groundwork would be the bigger missed opportunity.



Source link
Related Topics:eCommerce

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.