Hello team,
I’m writing today to apprise you of an exciting development at Bundl.
Over the last 15 months, we’ve made some exciting progress on our food delivery business. We’re now comfortably surpassing our pre-covid peak, while also being on the path to overall profitability. While food delivery continues to be our flagship category, we’ve also made some great progress in realising our larger vision of elevating the quality of life by delivering unparalleled convenience. We’ve done this on the back of strong traction in the grocery delivery business. This business is 10x the size of the food services industry; I strongly believe that with the right investments and focus, we have the potential to build a category that is larger than our food delivery business.
Our foray into grocery delivery started with the acquisition of Supr Daily in 2018. Over the last three years, the business has grown by leaps and bounds. Supr Daily currently serves ~500k customers on a monthly basis and delivers ~200k daily orders across six cities. The category has immense potential and we’ve been thinking through the several structures that best set it up for success in the long term.
After several discussions with the leadership team, we have decided to change Supr’s organisational structure to a Business Unit (BU) within Bundl (mirroring the structures we have with Food Delivery, Instamart etc.), and work more closely to unlock its potential. This will help Supr with the advantages that Swiggy has access to and accelerate its journey.
With this change, the support functions of HR, Admin, Legal, IT and Finance from Supr will be integrated into the relevant functions with Swiggy and immediately start tapping into the resources & structures we already have available. Supr Daily will continue to have dedicated business teams to ensure the necessary focus and nimbleness to achieve their goals.
Moments of change are moments of contemplation and after much reflection, the founding team of Supr Daily comprising Puneet, Shreyas and Rohit have decided to pursue new interests outside of Swiggy. I thank Puneet, Shreyas and Rohit for their contributions in helping Supr scale to where it is today and for building an amazing team. I wish them the very best for the future.
I’m also excited to announce that Phani will be taking over the reins as the CEO of Supr Daily and will be working full-time with the team to hit our ambitious goals. Phani’s involvement with Supr is not new – as part of the Supr board, he has been working closely with the leadership team on the strategy over the last three years. He’s also been engaged with the team over the last couple of months at an operational level, and I wish him & the team the very best for their 10x journey.
Regards,
Harsha
This post originally went out as an email to the team at Swiggy on 28th September, 2021. Some of the content may have been edited for language and brevity.
