What's Happening?
Rapido, an Indian ride-hailing company, has launched a beta test of its food delivery service, Ownly, in Bengaluru. This expansion aims to compete with established players like Swiggy and Zomato. Rapido's strategy involves offering lower prices by charging a fixed fee per order, making it attractive to restaurants. The service is currently operational in select Bengaluru localities, leveraging Rapido's existing logistics infrastructure. This move is part of Rapido's broader strategy to diversify its business beyond transportation services.
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Why It's Important?
Rapido's entry into the food delivery market signifies a strategic diversification that could disrupt the current dynamics dominated by Swiggy and Zomato. By utilizing its extensive fleet and offering competitive pricing, Rapido could capture a significant market share, benefiting consumers with more options and potentially lower costs. This expansion reflects the growing trend of ride-hailing companies venturing into food delivery, highlighting the convergence of transportation and logistics sectors.
