WAAYU food delivery app launches in Mumbai with no commission fees.
Anirudha Kotgire and Mandar Lande of Destek HORECA, two tech entrepreneurs, built the food delivery app WAAYU and on Monday began offering its services in Mumbai. Along with other business associations, it has the support of the Indian Hotel and Restaurant Association (AHAR) in Mumbai. Suniel Shetty, an actor and hotelier, will represent the brand, the business announced. Restaurants are able to price their menu items competitively and pass the savings on to customers because of WAAYU’s use of the software as a service (SaaS) concept.
More than 1,000 restaurants in Mumbai have joined the platform, including Bhagat Tarachand, Mahesh Lunch Home, Banana Leaf, Shiv Sagar, Guru Kripa, Kirti Mahal, Persian Darbar, and Ladu Samrat. McDonald’s, the largest chain of quick service restaurants (QSRs), is also merging with WAAYU. Apple Inc. tapped the US blue-chip bond market Monday as a flood of borrowers raised cash ahead of key inflation readings later this week.
According to a person familiar with the situation, the Cupertino, California-based Corporation sold bonds in a five-part, $5.25 billion offering that was initially intended to raise roughly $5 billion. The person, who requested to remain anonymous because the conversations are confidential, said that the 30-year bond, which is the longest component, will yield 108 basis points over similar Treasuries, down from the nearly 135 basis points first contemplated.
Given that the corporate debt markets are beginning to show signs of stabilizing, dealers surveyed by Bloomberg anticipate US high-grade bond sales of $30 billion to $35 billion this week. 11 businesses will jointly raise $22.55 billion in new debt on Monday to secure funding ahead of the release of the consumer price index on Wednesday and the producer price index that followed the index on Thursday. T-Mobile US Inc. and Merck & Co. Inc. also brought $3.5 billion and $6 billion in bonds, respectively. Proceeds from Apple’s sale will be used for general corporate purposes. That could include stock repurchases, dividend payments, working capital, capital expenditures, acquisitions and repayment of debt, the person said. The sale was the first for Apple since it sold $5.5 billion to fund buybacks and dividends in August.
According to Robert Schiffman, senior credit analyst at Bloomberg Intelligence, Apple’s decision to issue billions in fresh debt is “more due to its confidence in expanding cash flow than operational needs.” The company’s aim to achieve net-cash-neutrality should be further aided by the five-tranche bond offering, he said.
Before the acquisition price, Rob Waldner, Chief Fixed Income Strategist and Head of Macro Research at Invesco, remarked on Bloomberg TV that the deal “is going to be very well received by the market.” “High quality fixed income has seen quite a bit of demand,” An inquiry for comment was not answered by Apple representatives. Requests for response from T-Mobile and Merck were not immediately entertained. After Google, Apple is the second mega-cap technology issuer to offer bonds after reporting earnings. Facebook parent Meta Platforms Inc. raised $8.5 billion in its second ever bond sale last week.
