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According to a report by The Economic Times, Rapido is exploring options of adding food delivery as an option on its platform. The company's senior executives are said to be in talks with restaurant owners, exploring the business model that is expected to challenge the present commission-based listing structure of food delivery platforms Swiggy and Zomato.
Rapido began its operations in 2015 as a bike-taxi platform. In less than a decade, it managed to bag the second spot in the country’s ride-sharing space. The development comes at a time when Rapido is looking to plan its next phase of growth, after crossing $1 billion in annualised gross merchandise value (GMV).
“These are early discussions to determine if Rapido can challenge the Zomato-Swiggy duopoly. The company already offers delivery services for individual restaurants using its two-wheeler fleet.” It further stated that the discussions are still underway and the plans have not been finalised yet.
It is worth noting that Rapido on behalf of Swiggy already does food delivery, as the latter is an investor in the ride-sharing startup. Swiggy’s investment in the startup did not come with an exclusivity clause, the report mentioned.
