Business

Swiggy Success Story: How Cofounder & CEO Sriharsha Majety Built a Food Delivery Empire

Sriharsha Majety- Swiggy Cofounder & CEO, and Swiggy Story

“Growth is about learning and changing with the various moving parts and variables.” Sriharsha Majety, the CEO and co-founder of Swiggy, shares this view. He was an Associate in Nomura International’s London and India offices and co-founded Bundl.

Sriharsha holds a Master of Science degree in Physics from BITS, Pilani, a Bachelor of Engineering degree in Electrical & Electronics, and an MBA in Finance from IIM Kolkata.

Biography:

Name: Sriharsha Majety
Profession: Entrepreneur, Cofounder & CEO
Date of Birth: 1986
Age: 35
Father: NA
Mother: NA
Marital Status: Married.
Wife: Neetha Majety
College/University: IIM Kolkata, BITS Pilani.
Qualification: M.Sc in Physics and B.E in Electrical and Electronics Engineering.
Country: India
Famous as: Cofounder & CEO of Swiggy.

Early Life and Educational Background

Sriharsha Majety was born into an educated family in the southern Indian state of Andhra Pradesh in 1986. He completed his undergraduate studies at BITS-Pilani, earning a B.E. in Electrical and Electronics Engineering, and his master’s degree in Physics, earning an M.Sc. in 2008.

He modified his objectives halfway through the process, though, and is currently employed. His early departure from the CFA Program led to a period of uncertainty in his career. It brought him to IIM Calcutta, where he enrolled in the Post-Graduate Diploma in Management program. He worked as a recruitment coordinator at IIM, but even with that esteemed degree in his pocket, the corporate world was not where he belonged.

Majety did not take a direct path to becoming an entrepreneur. Majety joined Nomura International in London shortly after graduating from IIM as an Associate. He had been successful and stable because of his employment. Despite its rigid framework, the corporate world couldn’t stifle his zest of adventure. After only a year, he left his work to journey the world.

Entrepreneurial Journey

In 2014, Majety, together with co-founders Rahul Jaimini and Nandan Reddy, transformed Bundl into Swiggy, which would eventually transform Indians’ food ordering habits into something much more significant. The potential of Bundl as a meal ordering system was greatly shown throughout development, and it completely altered the way that people in India ate. Swiggy’s initial days were quite difficult. Despite facing a challenging market and fierce competition, the entrepreneurs persevered.

In order to earn a spot on this list of the most dependable food delivery services in India, it began operations in just 12 cities and quickly expanded. Majety created Swiggy a household name with his technological know-how, business savvy, and vision. Swiggy’s launch of the cloud kitchen chain “The Bowl Company” in 2017 completely transformed the landscape, and the pandemic year of 2020 followed.

Many companies were still in a state of uncertainty and decline, but Majety saw a chance to expand. Swiggy Instamart, which has proven to be a lifeline for many during the shutdown, followed shortly after Swiggy Genie. With the availability of alcohol delivery in a few states, the company’s unique move did not stop there.

Marketing Strategy

1. Swiggy Best Analysis Data Strategy

Swiggy is well-informed about its customers. They send notifications in accordance with their knowledge of who needs what. They therefore understand the demand space, what their clients like and dislike, etc. By granting them permission to conduct knowledge analysis, they are forced to broaden their B2B business plan. Customers will be forced to visit a brand-new eatery in order to sell them this knowledge.

2. Swiggy Distribution Strategy

Hyperlocal products are the foundation of Swiggy’s business strategy. It will provide a variety of delivery options. In addition to food, this offers a delivery platform for medications, groceries, gift shops, and florists, allowing the business to capture a larger share of India’s delivery market.

Swiggy’s business strategy aids in the expansion of both its restaurant and delivery networks. Swiggy has a dual partnership model that benefits both the client and the restaurant receiving the order. According to a survey by one of Kolkata’s top MBA schools, Swiggy accounts for 50% of online orders placed by restaurants.

3. Technological-Focused Marketing Strategy

Swiggy is a food technology startup that primarily relies on technology for its main logistical platform. In order to intelligently give delivery executives delivery times and promises to end customers, data analytics is used to analyze all the variables, including traffic conditions, restaurant preparation times based on order volume, and delivery executive location.

4. Promotional Strategies

In addition to its great services, Swiggy’s promotional marketing strategy has made it a highly well-known brand. Swiggy’s campaigns encourage participation and are highly engaging. Its posts are humorous, lighthearted, appealing, and of high quality. Ads such as #EatYourVeggies, #SuperSwiggy, and #EarnYourCheatMeal used clever puns and one-liners to promote eating healthily.

Additionally, Swiggy has used influencers to market its services. It uses all available digital marketing resources. Every social networking platform has Swiggy. To promote the company’s services and objectives, they post humorous blogs that parody current events. Swiggy emails its consumers every day.

5. Swiggy Subscription Plan

Swiggy uses this feature as part of its marketing strategy. They have put their subscription strategy into place in order to attract more customers and successfully keep them. Swiggy’s Super subscription service has been divided into three sections: Bite, Binge, and Bit. Each of the three programs has different benefits based on the subscription options.

In contrast, Swiggy One will transfer all current Swiggy Super Members to the new program right away for the duration of their membership. Better rates, limitless free delivery, and many other advantages are now available to customers. For the startup, these memberships generate a significant amount of revenue.