Swiggy has decided to shut down Genie, its hyperlocal delivery business, following underwhelming revenue performance. The service, which competed with players like Uber Package, Porter, and Dunzo, was an ancillary part of Swiggy’s broader business and did not generate enough revenue to justify further investment.
The move comes as Swiggy shifts its focus toward its core services, particularly food delivery, and aims to scale its quick commerce segment. Quick commerce has become increasingly important in the competitive landscape, with rivals like Blinkit and Zepto intensifying their efforts. Genie, which was available in over 60 cities, has been offline for some time, and the company confirmed its closure after earlier reports of its suspension.
Swiggy’s focus now lies in growing its Instamart offering, an area of strategic interest for the company as it competes with other quick commerce services. Genie’s closure follows a similar move by Dunzo, another pioneer in the hyperlocal delivery space, which has also reduced its focus on the segment. This shift has allowed competitors like Uber, Rapido, and Porter to expand their market share.
Manoj Muthu Kumar, who led the Genie business, will now focus on other verticals within Swiggy. The decision to exit this market reflects Swiggy’s strategy to streamline operations and double down on areas with greater growth potential.
