Jobaaj Stories
Coca-cola is willing to buy a minority stake in an online food delivery platform, Thrive.
As per Economic Times, The company is all set in its decision to buy a minority stake. This could be the company's first investment in an Indian Startup. The move is expected to raise the number of customer demand for the Beverage Giant.
Established in 2020, Thrive is a competitor of Swiggy and Zomato in the online food delivery business. It is said to have partnerships with over 5000 restaurants across the nation.
On the other hand, Coca-Cola had exclusive partnerships with brands like Mcdonald's. This move could be big for both the Indian Startup and the beverage Giant.
As per Economic Times, this could help customers get to order the beverage from the application itself. It could also help customers buy combos and push loyalty codes. Their article also mentioned that Beverage makers could drive customers and restaurants to buy more of their products. As Thrive has many midsize restaurant partners with varied cuisines, the company may as well get access to large customer data.
However, the size of the investment and more fine detail about this particular deal are not yet known. Earlier, Dominos operator Jubilant Foodworks also acquired a 35% stake in Thrive which was for around Rs.24.75 crores.
-Kratika Agarwal
Also Read, HDFC Bank's Q4FY23 Results.
