Swiggy Shares Jump 19% on Debut, Market Valuation Crosses ₹1 Lakh Crore
Swiggy Taps Flipkart and Amazon Executives to Boost E-commerce Drive
Last Updated: 12th November 2024 - 12:56 pm
Swiggy, one of the big names in food and grocery delivery in India, has been on a hiring spree, pulling in top talent from e-commerce giants like Flipkart (owned by Walmart) and Amazon. It’s all part of a strategy to fuel its expansion, diversify its revenue streams, and strengthen its position in the rapidly growing quick commerce sector. Over the past year, at least twelve senior execs from these major companies have jumped ship to Swiggy, which is gearing up for a public listing.
Recently, Swiggy has brought in some big names, including Shalabh Shrivastava (previously a VP at Flipkart, now SVP of Driver Org at Swiggy), Hari Kumar G (former Flipkart VP, now SVP and CBO of Swiggy Instamart), and Amitesh Jha (former Flipkart SVP, now CEO of Swiggy Instamart). These leaders bring expertise from categories like furniture, electronics, fashion, and groceries, helping Swiggy broaden its product range and boost average order values (AOVs).
Swiggy isn’t just looking for grocery experts—it’s actively recruiting leaders with experience in other high-value categories too. Recently, the company has launched new initiatives like Yello (a professional services marketplace), Rare (a premium membership service), and a 10-minute medicine delivery option, among others, all aimed at expanding its offerings.
Swiggy’s CEO, Sriharsha Majety, pointed out in a recent interview that India’s e-commerce industry has developed a strong talent pool over the past 16 years. Swiggy is tapping into this pool, attracting not only senior leaders but also mid-level professionals. For instance, Manu Sasidharan, an AVP at Swiggy, came over from Flipkart, highlighting the platform’s appeal to talent at various levels.
One interesting trend is that when senior leaders move to Swiggy, they often bring colleagues along. Girish Menon, Swiggy’s head of HR, is a prime example—he spent a brief period at Flipkart before joining Swiggy in 2016 and has since contributed to Swiggy’s ongoing hiring wave.
Swiggy’s talent strategy isn’t unique, though. Competitors like Zomato, Blinkit, and Zepto are also poaching talent from e-commerce firms as the race to dominate quick commerce heats up. Flipkart has been a particularly rich talent pool for Swiggy, though Amazon has also contributed to its leadership team. For example, Sairam Krishnamurthy, formerly of Amazon-backed More Retail, was recently hired as SVP and COO of Swiggy Instamart.
Swiggy’s strong appeal also comes from competitive salary packages (reportedly up to a 50% raise) and attractive ESOPs, especially with an IPO just around the corner. Kamal Karanth, co-founder of talent firm Xpheno, noted that these perks are a big draw for professionals in the sector.
Swiggy’s IPO, set for October 13, is highly anticipated, putting it in the same league as Zomato, which went public in 2021. Unlike Zomato, which keeps each of its services under separate brands, Swiggy takes a “superapp” approach, offering food delivery, quick commerce, hyperlocal delivery, and more—all under one platform.
Swiggy’s expansion into e-commerce reflects a larger trend in the quick commerce space: consumers now want more than just groceries—they expect a wide range of products, from electronics to cosmetics, delivered in 10–15 minutes. Competitors like Blinkit, Flipkart Minutes, Tata BigBasket, and Zepto are also stepping up their game, adding categories like apparel and electronics to meet this rising demand.
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5paisa Research Team
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