"This message comes with a heavy heart – we’ll soon be bringing the Minis platform to a close," Swiggy said in a recent email sent to sellers using its SaaS platform Swiggy Minis.
The listed foodtech major will shut the service by August 10. It has asked sellers to complete any pending orders, receive the payouts for the orders and “wind things down at your own pace” till then. As of now, the Swiggy Minis continues to be live, giving users options to book trials.
Launched in 2022 as a D2C offering where local homegrown brands could establish their own mini-storefront on Swiggy’s platform, Minis gave small entrepreneurs an opportunity to engage with its broad user base and benefit from its technology-enabled logistics capabilities and back-end services such as discovery, check-out and payment. The platform is a part of Swiggy’s “Platform Innovations” revenue stream.
Swiggy didn't respond to Inc42's questionnaire on the shut down of Minis. The story will be updated on receiving a response.
While Minis was positioned as a Shopify alternative, it pivoted in 2024 to a link-in-bio service, as per a report by TechCrunch. In essence, it allowed entrepreneurs to put the link of their D2C storefronts on social media accounts.
The move came as the platform wasn't seeing much traction. As per the report, only 5% to 10% of customers were arriving on merchants' store pages directly through Swiggy Minis.
Meanwhile, this marks the second shutdown for the foodtech major’s “platform innovations” business. Earlier in May, Inc42 reported that the company suspended its hyperlocal delivery service 'Swiggy Genie'.
Swiggy’s platform innovation segment consists of offerings like private brands, Swiggy Genie, and Swiggy Minis. Insanely Good, which was earlier part of this business, was merged with Swiggy's quick commerce vertical Instamart in March 2024.
Notably, the platform innovation business hasn't been performing well for the company in recent quarters. In Q4 FY25, its operating revenue declined 40% YoY and 6% QoQ in Q4 FY25 to INR 21.4 Cr. In the preceding Q3 FY25, revenue slumped 10% QoQ.
Further, its loss more than doubled YoY to INR 36.1 Cr in Q4 FY25. For the full fiscal year, the vertical’s loss declined 34% to INR 73.4 Cr in FY25 from INR 110.3 Cr in the previous fiscal year.
Amid these, Swiggy has been launching new services to increase its revenue.
Some of its recent launches include:
- Swiggy Crew: Travel and lifestyle concierge services app launched in June.
-Swiggy Pyng: At home services offering launched in April.
Meanwhile, it is also taking steps to further ramp up its food delivery service. Yesterday, the company announced the launch of an INR 99 food option on its app, named '99 store'.
Shares of Swiggy ended today’s trading session 2.64% lower at 383.20 on the BSE.