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.
Via Economic Times
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…
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