StartupTalky

Tag: Swiggy One BLCK

  • Swiggy Supports Events by Introducing its New “Scenes” Offering

    Foodtech giant Swiggy has introduced Swiggy Scenes, a new feature on its app, in what appears to be an attempt to strengthen its events and ticketing play. The new option, which was introduced under Swiggy’s “Dineout” offering, enables customers to reserve events, parties, and live music at Swiggy’s partner restaurants. Currently, customers can reserve over 55 events in Delhi, including live music, Christmas parties, and New Year’s celebrations. In Bengaluru, the firm has organised roughly 48 events. Swiggy wasn’t available right away to answer Inc42’s questions about the development. As soon as an answer is received, the story will be updated.

    Recently Launched Initiatives by Swiggy

    The launch of Scenes complements Swiggy‘s several other new developments over the past year or so. The company announced the introduction of One BLCK, a new premium invite-only membership club, on December 12. In October, it also introduced Bolt, a 10-minute meal delivery service. Nonetheless, this appears to be Swiggy’s first new product for its “out-of-home consumption vertical” in the previous 12 months. The vertical includes its restaurant reservation and booking platform Dineout as well as its exclusive events and experiences firm Swiggy SteppinOut.

    Swiggy’s Financial Progress

    In Q2 of FY25, Swiggy generated INR 60 Cr in sales from the vertical, a 71% increase over INR 35 Cr in the same quarter last year. Swiggy projected adjusted EBITDA break-even for the out-of-home consumption vertical for the current fiscal year in its investor presentation. In Q2 of FY24, the vertical’s deficit decreased 79% to INR 9.26 Cr from INR 44.34 Cr. During the reviewed quarter, the adjusted EBITDA margin as a percentage of its GOV was -1.3%, compared to -8.8% during the same period last year. This comes as Zomato, Swiggy’s fiercest opponent, has been strengthening its position in the ticketing market for a while.

    Zomato released District, a distinct app for its ticketing division, in November following the purchase of Paytm Insider earlier this year. Zomato provides its users with movie, event, and food options through the app. Through its first qualified institutional placement (QIP) in November, Zomato raised INR 8,500 Cr (about $1 billion) to support the expansion of its events and ticketing operations, as well as speedy commerce and food delivery.

    Cutting Down on Losses

    Revenue from its “Going Out” vertical increased 214% to INR 154 Cr in Q2 FY25 from INR 49 Cr in Q2 FY24. In the meantime, Swiggy reduced its consolidated net loss from INR 657 Cr in the previous quarter to INR 625.53 Cr in the September quarter, a 4.78% decrease. In Q2 of FY24, revenue increased by 30% to INR 3,601.45 Cr from INR 2,763.33 Cr.

    Swiggy Launches “One BLCK” Membership Plan
    Swiggy unveils “One BLCK,” a premium membership plan designed to offer exclusive benefits and services for its loyal customers.
    StartupTalkyNitin Konde

  • Swiggy Introduces “One BLCK,” a New Membership Plan

    On 11 December 2024, Swiggy, a food and grocery delivery service, unveiled One Blck, an invite-only membership that will be a level beyond its current loyalty programme. The goal of the change is to boost growth in all of its business sectors while improving the experience for premium clients. Swiggy’s membership programme presently features three tiers, including One Blck, a base version, and One Lite, a low-end version that was introduced in 2023.

    The Bengaluru-based business claims that One Blck will provide members with an on-time guarantee and quicker delivery for their food orders. Members will get access to perks like free cocktails, drinks, or desserts when dining out.

    What One BLCK Offers?

    The on-time guarantee function was also introduced by Zomato, its main competitor, in 2019 for users of its Gold loyalty programme, which Zomato later abandoned. In addition to discounts on food delivery and Dineout, One Blck members will receive all the benefits of the current Swiggy One membership, including unlimited free deliveries on food orders and its rapid commerce arm Instamart.

    In 2021, the firm debuted its One loyalty programme, and according to the corporation, members spend over three times as much time on the platform as non-members do. By the end of FY24, Swiggy One had 5.3 million users. The cost of the new programme would be INR 299 for a three-month subscription. Selected users around India will receive invitations to this programme in phases, and current Swiggy One members will also have the opportunity to upgrade to this new membership.

    One BLCK, positioned as a pioneer in the sector, goes beyond fast commerce and food delivery. These advantages, according to Swiggy, include partnerships with companies like Hamleys, Cinepolis, Disney+ Hotstar, and Amazon Prime. Yatra Prime subscriptions are being given out to One BLCK members at no cost as part of the launch offers.

    Swiggy Pushing its Premium Offerings

    Swiggy has been increasingly emphasising its premium offerings. It began testing a premium membership and personal assistant service dubbed Rare earlier this year, giving wealthy clients access to VIP and private events. According to Phani Kishan, cofounder and chief growth officer of Swiggy, Swiggy One Blck is the business-class counterpart for the brand’s clients, improving the factors that are most important to premium users: speed, dependability, and individualised service. For the July–September quarter, Swiggy reported a 30% YoY rise in operating revenue, while its net loss marginally decreased to INR 625 crore.

    By October–December 2025, the company anticipates turning a profit at the group level, largely due to higher profitability in its meal delivery sector. Bolt, a 10-minute meal delivery service that it recently introduced, is now available in more than 400 cities. Currently, 5% of its food delivery comes from Bolt.

    As the Indian food delivery and quick-commerce industries get more competitive, platforms like Swiggy are diversifying their membership services to attract and retain high-value clients.

    Swiggy Downgraded by HDFC Securities; PT Increased to INR 470
    HDFC Securities downgrades Swiggy to a “Reduce” rating while increasing its price target to INR 470, reflecting cautious optimism on the stock.
    StartupTalkyNitin Konde