Swiggy, an online food ordering and delivery company, is hiring executives from other e-commerce companies, such as Walmart-owned Flipkart and Amazon, for its expansion plans, according to a Moneycontrol report.
At least 12 executives from these companies have already joined the food delivery giant, the report read.
This comes a day after Swiggy made two senior appointments to its leadership team, Business Standard reported. The report added that over the past four months, this included Shalabh Shrivastava (former Flipkart VP), Hari Kumar G (another former Flipkart VP who is now the SVP and Chief Business Officer for Swiggy Instamart), and Amitesh Jha (an SVP at Flipkart who is now the CEO of Swiggy Instamart).
This is to take in executives experienced in areas like furniture, electronics, and fashion, etc, the report added.
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The company is looking to boost revenues by increasing the average order values (AOVs) by launching several support initiatives and expand its operations, including by introducing ‘Yello’, a marketplace for professional services; and ‘Rare’, a premium membership service, according to the report.
This comes amid the company about to debut on the exchanges tomorrow on Wednesday, November 12, 2024, after launching its high-profile IPO last week, which got fairly sluggish demand, being subscribed three times over, mostly by institutional investors on the last day.
On the other hand, its already-listed rival Zomato got listed in July 2021 and is profit-making, compared to the loss-making Swiggy, whose losses narrowed in the financial year 2023-24, compared to the previous year.
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