Bothra was speaking at the annual edtech summit in Delhi organised by Arizona State University, GSV Ventures and Emeritus.
“For us, it (going public) was an eventuality…the decision was taken on the basis of timing, for which various (things) that had to align. The foremost one was the maturity of the business model,” he said in a conversation with Emeritus founder and CEO Ashwin Damera about the company’s initial public offering (IPO) journey.
“In terms of scale, we’re runrating close to a billion orders on a yearly basis…and we have around 500,000 delivery partners who are with us on a direct basis,” he added.
He also pointed out that the quick commerce industry had reached $8 billion in annualised gross order value (GOV).
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Zomato-owned Blinkit, the largest quick commerce player, reported an annualised GOV of around $3.5 billion based on its October-December numbers, while General Catalyst-backed Zepto’s cofounder and CEO Aadit Palicha said last month that the company has clocked an annualised GOV of $3 billion in January.For Swiggy, the latest numbers for which are based on its September-quarter earnings, Instamart had reported an annualised GOV of around $1.6 billion.
The company had posted revenue from operations of Rs 3,601 crore for the period, a 30% year-on-year (YoY) growth, primarily driven by the expansion of Instamart.
While its net loss only narrowed marginally in the second quarter of this fiscal at Rs 625 crore, the company had said it expects to turn operationally profitable at a group level by October-December 2025, mainly on improved profitability of its food delivery business.