Swiggy may sell stake in Rapido to boost finances
Swiggy is taking a fresh look at its 12% stake in bike-taxi app Rapido, which it picked up for $180 million back in April 2022.
The food delivery giant says it's "actively re-evaluating" the partnership due to changing business priorities and possible conflicts.
Selling the stake could help Swiggy strengthen its finances, especially since it hasn't joined any of Rapido's recent funding rounds.
Swiggy's business is booming despite the Rapido re-evaluation
Even with this review going on, Swiggy's main business is thriving. In Q1 FY26, their order value jumped 45% year-on-year to ₹14,797 crore.
Instamart saw even bigger growth—doubling its numbers to ₹5,655 crore!
Plus, Swiggy added 41 new dark stores (now at 1,062 across 127 cities) and grew its monthly users to over 16 million.
So while they're reconsidering Rapido, Swiggy's focus on expanding and improving service for users hasn't slowed down.