Majety, who has largely shunned the spotlight, shared reflections on his entrepreneurial path and the strategic pivots he and his co-founders navigated in building Swiggy.
"We started with code aggregation, then pivoted to logistics, and that became Swiggy. It was during our second year when I convinced an old friend to join us and head expansion. His first reaction was, 'This is the same thing we did in the college project at IIM Calcutta'. That germ of an idea had completely slipped my mind," he said during the listing process at the National Stock Exchange.
He further added that the journey from a forgotten idea to execution is in itself a "rarity". "But to execute it to the size and scale we have now is nothing short of a miracle," he said.
Swiggy is the first company to list through the Securities and Exchange Board of India's confidential listing route, highlighting the competitive nature of the sector. This listing places Swiggy in direct competition with its larger rival, Zomato.
Deepinder Goyal, co-founder and CEO of Zomato, welcomed Swiggy's listing. "Congratulations @Swiggy! Couldn't have asked for a better company to serve India with," Goyal posted on X, tagging another Zomato post that read, "You and I... in this beautiful world @Swiggy."
This story is from the November 14, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 14, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
False solutions for climate change
As the ghastly impacts of climate change become more visible in our everyday lives, it is hard to shake off the feeling that one must step up and do something constructive.
Expats to residents, Delhi's air is driving people out
Embassies have stepped up efforts to deal with the situation; WFH option has residents temporarily relocating to their hometowns
Making sense of census
For all marketing professionals working in large companies, the population census of India is a treasure trove of information.
MONEY CAN BUY YOU STARS
What's behind West Asia's multi-billion charm offensive to become a destination for all kinds of sports stars?
Ensure low tracking error, alignment with risk appetite
Exchange-traded funds (ETFs) witnessed a sharp rise in subscriptions in October, with net investments totalling ₹13,441 crore, compared to ₹381 crore in the previous month, according to data from the Association of Mutual Funds in India (Amfi).
Strong order book to stand BEL in good stead
Brokerages mostly positive on the stock
Strong Q2, growth outlook drive gains for Info Edge
The stock of online classified major Info Edge (India) was up over 6 per cent on Friday on expectations of demand improvement for Indian IT companies.
Regulator nod to Roshni Nadar to acquire majority stake in HCLTech
The Securities and Exchange Board of India (Sebi) on Friday gave nod to Roshni Nadar to acquire majority shareholding from her father Shiv Nadar, founder of HCL Group, in two promoter group companies.
Green energy stocks fail to benefit from selloff in Adani Green
Six of the eight stocks operating in the green energy space declined on Friday, failing to benefit from the rout in Adani Green Energy's decline over the last two sessions.
NTPC Green Energy IPO booked 2.40x on Day 3
The initial public offering (IPO) of NTPC Green Energy Ltd, the renewable energy arm of NTPC, was subscribed 2.40 times on the closing day of the share sale on Friday.
