Swiggy to re-evaluate Rapido stake amid competition
Food-delivery firm Swiggy has confirmed that it will re-evaluate its investment in ride-hailing startup Rapido, citing a potential conflict of interest in the future as the latter is expanding into the food delivery segment. Swiggy's single-largest investment to date, out of all its startup investments, was a $180 million investment for a nearly 12% stake in Rapido in April 2022.