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Swiggy Acquires LYNK For Improved Service and Broadening Customer Base

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Swiggy Acquires LYNK For Improved Service and Broadening Customer Base

Swiggy, the organization which offers food and grocery delivery on demand of customers has acquired LYNK Logistics Limited. LYNK Logistics Limited is a retail distribution platform. Swiggy has agreed to the acquisition of LYNK. Acquisition of LYNK will help Swiggy in broadening its customer base by entering into India’s grocery retail and food market worth $570 billion.

LYNK has been working with various brands related to Fast Moving Consumer Goods (FMCG). It works as an authorized distributor. It connects the brands with the retail stores. The acquisition of LYNK by Swiggy will enhance the latter’s business portfolio as highly profitable. This deal promises potential synergies with the fast delivery service Instamart.

Karan Taurani, the Senior VP of Elara Capital stated, “Investing in supply chain and technology is a big driver for improving the unit economics in the grocery delivery business which is highly fragmented and there are no signs of any large companies making break-even or profits. It is an emerging business. To drive margins in this business, one needs to ensure higher orders or higher throughput per store which could be a function led by lower lead time. Better packaging and faster processing of the orders would also help drive higher throughput.”

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About LYNK

LYNK has made enough profit and claimed to have grown around 2.5 times year on year. This organization is backed by Ramco Industries. Of Ramco Systems and Ramco System, Ramco Industries is one of the holding companies. This firm is counted as among the largest tech-enabled FMCG retail distribution organizations in the nation, it is based in Chennai.

The organization offers timely delivery of products on demand due to its improved on-the-shelf availability and faster order-to-delivery turnaround to retail stores. LYNK Industries is owned and operated by LYNK Logistics Limited.

LYNK has more than 100,000 retail locations spread across India’s top 8 cities. The company helps FMCG businesses expand their retail footprint. LYNK uses its technology platform to support warehouse, inventory management, and logistics activities along the retail distribution value chain.

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LYNK was established in 2015 by Abinav Raja and Shekhar Bhende. It will run independently even after the acquisition. The business announced that it will quickly scale its current platform by utilizing Swiggy’s advantages in technology and logistics.

Subhashree Panda: A proficient content writer, editor, and researcher. With 4 years of experience and an MBA in finance, she crafts compelling narratives on global events. Her passion for diverse journalism genres resonates widely, fostering broad audience connections.

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Zomato launches ‘large order fleet’ for events with up to 50 guests

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Zomato introduces 'large order fleet' for gatherings of up to 50 people

Zomato Introduces Large Order Fleet for up to 50 People

New Delhi, April 16 (IANS) Online food delivery platform Zomato has rolled out a ‘large order fleet’ designed to serve orders for a gathering of up to 50 people. Zomato Co-founder and CEO Deepinder Goyal announced this new service on social media platform X, stating that the fleet is specifically tailored to handle group, party, and event orders with ease.

Goyal mentioned, “This is an all-electric fleet, designed specifically to serve orders for a gathering of up to 50 people.” Previously, such large orders were handled by multiple regular fleet delivery partners which did not meet the company’s customer experience standards. With the introduction of this new fleet, Zomato aims to improve the overall experience for customers placing large orders.

The CEO shared that these new vehicles are still a ‘work in progress’ and additional enhancements like cooling compartments and hot boxes with temperature control will be added to ensure that the orders arrive in optimum condition. This initiative is expected to address most of the challenges faced by customers when placing large orders on the platform.

In addition to this development, Goyal also highlighted the company’s commitment to providing medical aid in roadside emergencies. Zomato has trained over 20,000 delivery partners in 31 cities under the ‘Emergency Heroes’ programme to ensure they are fully equipped to handle medical emergencies while on duty. This comprehensive approach reaffirms Zomato’s dedication to both customer service and delivery partner welfare.

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NSE IPO awaiting approval from SEBI, CEO confirms

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NSE IPO awaits SEBI’s green signal, says CEO

New Delhi, April 16 (IANS) – The National Stock Exchange (NSE) is eagerly awaiting approval from SEBI for its upcoming IPO, according to MD and CEO Ashish Kumar Chauhan. Chauhan, who made headlines with BSE’s IPO in 2016, took over as NSE’s CEO in July 2022, setting the stage for another major milestone.

Chauhan revealed, “Once it gets a green signal from SEBI, we will get our draft red herring prospectus (DRHP) done and submit it.” The successful listing of BSE’s IPO in 2016 has set high expectations for NSE’s upcoming public offering.

Investors reaped the benefits of 13 out of 78 IPOs listed in the fiscal year 2023-24, with the S&P BSE IPO index jumping 69 percent in FY24. Chauhan hinted at more IPOs in the coming year if the market continues its upward trend, emphasizing the importance of seamlessly running India’s largest stock exchange.

With 55.51 percent of NSE’s shareholding held by the public as of December 31, 2023, the exchange remains a key player in the Indian financial market. Chauhan’s leadership and strategic vision position NSE for further success in the fast-paced and ever-evolving world of stock trading.

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Andrew D. Baglino Net Worth 2024: How Much is the Tesla Executive Worth?

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Andrew D. Baglino Net Worth 2024: How Much is the Tesla Executive Worth?

Who is Andrew D. Baglino?

Andrew D. Baglino is a prominent figure in the manufacturing industry, particularly renowned for his role as the Senior Vice President of Powertrain and Energy Engineering at Tesla Inc. Baglino’s journey to success began in 2006 when he joined Tesla as an electrical engineer. Over the years, he has made significant contributions to the company’s technological advancements, particularly in powertrain and energy engineering.

Andrew D. Baglino’s Career

Baglino’s career at Tesla has been marked by notable achievements and advancements. Starting as an electrical engineer, he worked on crucial projects such as motor control firmware and digital test equipment for the Tesla Roadster. His expertise led him to become the Director of Engineering for Tesla Energy, where he played a pivotal role in designing powertrain systems for Tesla vehicles. By 2019, Baglino assumed the position of Senior Vice President, overseeing powertrain and energy engineering operations at Tesla.

Andrew D. Baglino’s Net Worth

As of April 1st, 2024, Andrew D. Baglino’s estimated net worth stands at least $5.04 million. This estimation is based on his ownership of 31,230 shares of Tesla stock, valued at over $5 million. Additionally, Baglino earns a salary of $303,000.00 per year as the SVP of Tesla Inc. His net worth does not account for any other investments he may possess.

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Andrew D. Baglino’s Age

Andrew D. Baglino is currently 43 years old, making him a seasoned executive within Tesla’s leadership. His extensive experience and expertise contribute significantly to the company’s innovation and success in the manufacturing industry.

Andrew D. Baglino’s Family: Husband and Children

While specific details about Andrew D. Baglino’s family life are not widely available, it is known that he has been married for several years. His wife is described as being highly supportive, and together, they have built a life filled with happiness and fulfillment. However, details regarding his children are not publicly disclosed.

Andrew D. Baglino’s Height and Weight

Andrew D. Baglino stands at a height of 5 feet 6 inches and weighs approximately 84 kilograms. While physical attributes do not define his professional capabilities, this information provides insight into his profile.

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Also Read: Frédéric Arnault Net Worth 2024: How Much is the Former CEO of TAG Heuer Worth?

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