Zomato Ltd, an Indian food-delivery behemoth, is experiencing outrage on social media for its plans to launch a 10-minute meal service, which critics say puts delivery riders’ safety at danger.
Zomato Instant, according to CEO Deepinder Goyal, would rely on a densely packed network of food finishing stations, which will store restaurants’ best-selling products and apply a sophisticated demand prediction algorithm.
Zomato’s statement generated a barrage of replies within hours. While a legislator questioned the business model, executives expressed concerns about rider safety on Indian roadways.
Many people on social media urged a reconsideration, claiming that food can wait because ambulances take longer to reach patients. Some LinkedIn users questioned if such a paradigm was necessary.
On Tuesday, Goyal sent out another tweet, emphasizing that delivery will be safe for riders and that no penalties will be imposed, and urged people to grasp the model before reacting angrily.
In India, quick commerce grocery firms like SoftBank-backed Blinkit and rival Zepto have exploded in popularity.
Despite this, many customers have become reliant on rapid commerce grocery services to suit their urgent shopping requirements.
After tumultuous trading, European equities were down at the close on Monday, as a jump in energy stocks was countered by investor fears about the Ukraine conflict. The FTSE 100 outperformed its European counterparts, increasing 0.5 percent.
Investors were keeping a careful eye on the conflict in Ukraine, with European Union nations considering imposing an energy embargo on Russia.
After the closing on Tuesday, Australian stocks were up. The S&P price of gold futures for April delivery increased by 0.26 percent.
The AUD/USD exchange rate remained constant at 0.74, while the AUD/JPY increased 0.64 percent. Futures on the US Dollar Index were up 0.37 percent.
Alibaba increased its share repurchase programme to $25 billion on Tuesday, the e-commerce giant’s largest-ever repurchase plan.
Alibaba increased its share repurchase programme to $25 billion on Tuesday, the e-commerce giant’s largest-ever repurchase plan. Alibaba (BABA) shares closed up 11% after more than halving in the previous year.
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