Amazon and Flipkart Expansion Trims $15 B Off Blinkit, Swiggy
AMZN•Amazon and Flipkart’s push into India’s $11 b rapid-commerce market has knocked over $15 b off Blinkit and Swiggy valuations, with Blinkit down 28% and Swiggy off 47% from peaks. Amazon Now plans to expand from 15 to over 300 cities while investing an extra $13 b in Indian AI and cloud infrastructure.
1. Competitive Impact on Incumbents
Eternal’s Blinkit and Swiggy’s Instamart have seen combined market value decline exceed $15 b as Blinkit slipped 28% and Swiggy 47% from recent highs, reflecting investor concerns over mounting competition.
2. Amazon's Expansion Strategy
Amazon Now, launched last year, will expand from 15 to over 300 Indian cities and towns as Seattle-based Amazon commits an additional $13 b to build AI and cloud infrastructure across the country.
3. Flipkart Growth and Zepto IPO
Flipkart Minutes has grown to 1,000 last-mile dark stores across 130 cities and aims for 1,500 stores in 180-plus cities soon, while Zepto intends to raise up to $1 b through an IPO to fund its rapid-commerce expansion.
