The whitepaper claims that QC platforms are violating the Competition Act, 2002, by restricting competition through exclusive deals with preferred sellers, effectively blocking independent retailers.
Swiggy and Zomato are known for their playful social media banter which generate massive buzz on the Internet.
Quick commerce platforms partner with top brands to deliver festive gold and silver coins on the occasion of Dhanteras
The food tech company has cumulatively enabled over ₹1,000 crore of ESOPs liquidity over the five events, benefitting over 3,200 employees.
Some popular Indian brands in which Prosus has invested include BYJU'S, DeHaat, Good Glamm Group, Meesho, PayU India, Pharmeasy, and Swiggy.
As investors start looking closely at company bottom lines, the long list of start-up IPOs will have a tough time convincing investors.
The development comes a month after the food aggregator announced the company will fire 380 employees or 6% of its total 6,000 workforce.
The net loss of the food and grocery delivery platform widened due to sharp rise in expenses, which spiked to ₹9,748.7 crore, from ₹4,292.8 crore a year ago.
Alibaba Group, which owns 13.3% stake in Zomato, reportedly sold shares worth $200 million in the company through a block deal today
According to Indian Hospitality Trends & Opportunities Report, the revival of domestic travel and tourism has brought steam back into one of the worst impacted industries during the pandemic.
