Recently, an anonymous blog post was written apparently by the ex-employees and employees of Swiggy. The blog mentioned numerous cases of the start-up lying about its finances & market share to its restaurant partners. It also noted that the company even lied about its order volumes to the investors to confirm their recent funding round was on track.
The alleged employees mentioned, “The order volumes of the company in January 2017 were less compared to December 2016 volumes. But in the investor presentations, they have clipped off the December records in the slides so as to represent a linear curve of growth during all months of our existence.”
With around $80 Million raised from SAIF Partners, Accel Partners, Naspers, and others, Swiggy continues to be among the top-funded start-ups. And finally, after so much of confusion and anxiety, the food delivery startup has refused the unverified blog post that indicted the company of faking its financial numbers and deceiving restaurant partners.
A spokesperson said, “The blog post from an unidentified source is directed at defaming the Swiggy’s reputation as a firm. The article conveys incorrect particulars about the order numbers and business. It not only mentions employee exits from a year and a half back but also displays facts on our partners and with roguish intent.”
Later, Swiggy’s Chief Executive, Sriharsha Majety, dismissed every allegation, sharing in-house information to back his claims. Initiating with the daily order number it had on its interface, Majety said it was 72,112 in December, whereas increased to 78,417 in January. The numbers are been validated by the external, neutral auditors, according to the company. Further, Majety mentioned that the number of daily orders is enduring to rise and the firm is having about 4 Million orders each month.
Speaking about the allegation about lying to its restaurant associates, Majety said, “We have affiliated with restaurants from the beginning of our journey, and developed enormously, mutually. We don’t lie about our order numbers or market share. We are the clear market leaders and we communicate the same to partners and restaurants to display them the advantages of associating with us.”