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Naspers leads $80m investment in India-based food ordering and delivery platform, Swiggy

Naspers leads $80m investment in India-based food ordering and delivery platform, Swiggy Cape Town and Bengaluru 30 May, 2017 - Naspers, a global internet and entertainment group and one of the largest technology investors in the world, today announced that it led an $80 million Series E investment in India-based Swiggy, an online food ordering and delivery platform in India.  Ashutosh Sharma, head of investments in India for Naspers, will join the Swiggy board. The investment will help to bolster Swiggy’s growth plans and demonstrates Naspers commitment to help Swiggy become the undisputed leader in food ordering and delivery across India.
 
Food delivery in India is an underpenetrated but massive market and Swiggy has experienced significant growth since it was founded in 2014. Swiggy has attracted over 12,000 restaurants to its platform and has experienced a six-fold growth in revenue over the past 12 months. Swiggy has a consolidated market leadership position across all the cities it operates in and has earned strong consumer trust by delivering meals in an industry-best average of 37 minutes per order.
 
“Swiggy has shown impressive growth in a highly competitive market,” said Sharma. “Naspers was attracted to the company’s exceptional execution in disrupting online food ordering and delivery in India while many players are struggling. Swiggy’s ability to create a sustainable business, earning consumer trust through a reliable first-party delivery technology, positions it well for success.”
 
“In a span of three years, Swiggy has been instrumental in changing the way India eats by delivering delightful customer experiences. This investment by Naspers is further testimony to Swiggy’s vision and performance,” said Sriharsha Majety, co-founder and CEO, Swiggy. “As the market leader, we are leveraging our deep understanding of the Indian consumer and the gaps in the market to introduce disruptive and highly differentiated service offerings; making online food ordering and delivery more seamless and reliable to users everywhere.”
 
Naspers has deep expertise in building marketplace businesses globally, including the leading food delivery business in Brazil, iFood, and in Mexico, SinDelantal. The company also recently invested in Germany-based Delivery Hero, the leading online food ordering and delivery platform in the majority of the 40+ countries in which it operates.
 
The investment in Swiggy is expected to fully close in 2 weeks time.
  
About Naspers
Founded in 1915, Naspers is a global internet and entertainment group and one of the largest technology investors in the world. Operating in more than 130 countries and markets with long-term growth potential, Naspers builds leading companies that empower people and enrich communities. It runs some of the world’s leading platforms in internet, video entertainment, and media.
 
Naspers companies connect people to each other and the wider world, help people improve their daily lives, and entertain audiences with the best of local and global content. Every day, millions of people use the products and services of companies that Naspers has invested in, acquired or built, including Avito, Brainly, Codecademy, DeliveryHero, eMAG, Flipkart, ibibo, iFood, letgo, Media24, Movile, MultiChoice, OLX, PayU, Showmax, SimilarWeb, SinDelantal, Twiggle, and Udemy. Similarly, hundreds of millions of people have made the platforms of its associates Tencent (www.tencent.com; SEHK 00700), Mail.ru (www.corp.mail.ru; LSE: MAIL), and MakeMyTrip Limited(www.makemytrip.com; NASDAQ:MMYT) a part of their daily lives.
 
Naspers is listed on the Johannesburg Stock Exchange (NPN.SJ) and has an ADR listing on the London Stock Exchange (LSE: NPSN). For more information, please visit www.naspers.com.
 
About Swiggy
Swiggy, the leading food ordering and delivery platform in the country, is Changing the Way India Eats by becoming the most reliable one-stop solution for consumers’ food needs. Swiggy’s innovative technology, large and nimble delivery service, and customer focus enable a host of benefits including lightning fast deliveries, live order tracking, no restrictions on minimum order amounts, and strong customer support.  More than 12,000 restaurant partners across eight cities leverage Swiggy to reach new customers and increase their sales. For more information, visit www.swiggy.com or connect with us on Facebook, Twitter, and LinkedIn.
 

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