Online food delivery major Swiggy has set up a new subsidiary in the space of sports & recreational activities.
The company said in a stock exchange disclosure that this wholly owned subsidiary will mainly engage in sports team ownership, management, talent development, event organisation, and facility operation, offering career services, acquiring broadcasting and sponsorship rights, and promoting sports events through various business models.
The development comes close on the heels of Swiggy recently announcing its ownership of Team Mumbai in the World Pickleball League (WPBL), which is set to have its inaugural edition in Mumbai from January 24 to February 2, 2025.
In also follows on from Swiggy's direct rival Zomato foraying into the events business in August through its acquisition of Paytm's ticketing business for Rs 2,048 crore ($242 million).
In November, it launched 'District' an app for its going out business that allows users to book tickets for movies, sports events, live performances, shopping, staycations, and more. Zomato's dining out business, which is part of its main app will also be transitioned into the District app along with Paytm's Insider app, which it acquired. In the last quarter (Q2), Zomato reported ₹154 crore in revenue from its going-out business.
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Swiggy acquires World Pickleball League’s Mumbai Team
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