Bengaluru-based, on-demand food-delivery platform Swiggy has lined its top deck with five Vice-Presidents to head Product, Design, Finance, HR and Marketing, with the view to take the company through its next phase of growth. The start-up is actively scouting for two Associate Vice-Presidents to lead engineering.
Founded in August 2014 and bootstrapped till January last year, Swiggy has hit a new high of delivering 50,000 orders a day, up from 3,500 orders a day last August, and has set itself a new target of 1 million orders a day by 2020.
Nandan Reddy, co-founder, Swiggy, told
“We still have CXO-level positions open for COO, CMO and CFO, but are in no hurry to fill the positions as the VP-level hires will take Swiggy through the next phase of growth. We will focus on strengthening our position in the eight markets. For instance, a market like Bengaluru alone can take 3-4 lakh orders a day. In terms of geographic expansion, we are looking to add at the most three cities — Ahdmedabad, Jaipur and Chandigarh,” said Reddy.
Swiggy has over 5,000 restaurants on its platform and receives commissions ranging between 20-25 per cent for lead-generation plus deliveries from restaurants. “We drive 10 per cent of a restaurant’s business today, and are looking to take that up to 30 per cent. The average order-value on Swiggy is ₹330; we want to increase that to ₹400 in the next 12 months.”.
Swiggy offers features such as no minimum order value, for which customers have to pay a delivery fee. Delivery charges range ₹30-40, depending on the city. The company has its own delivery fleet size of 6,000 people.
The start-up has partnered with a third-party logistics provider Bike Ninja for peak-hour deliveries, which it has been piloting in its home market of Bengaluru for the last couple of months.
Swiggy, which has raised $ 60.5 million in funding, has witnessed 2.4 million downloads on Android and receives 85 per cent of its orders from its mobile app.