Magicpin, Rapido Partner To Challenge ZomatoSwiggys Food Delivery Duopoly
News Source : Ndtvprofit.com
News Summary
- Rapido's Ownly will have access to over 80,000 restaurants across the country.
- magicpin will gain access to Rapido's delivery fleet in certain locations.
- Zomato has around 15 per cent stake in magicpin.
- Swiggy's board approved the sale of its stake in Roppen Transportation Services, which operates bike taxi aggregator Rapido, for a total consideration of nearly Rs 2,400 crore.
- The partnership will open up magicpin's large restaurant base for Rapido.
Despite the promise of disruption, the magicpinRapido alliance faces a steep climb. Food delivery remains a tough, lowmargin business, where balancing rider payouts, delivery costs, and customer di [+35 chars]
Never miss a story from us, subscribe to our newsletter