Meituan’s daily orders hit record 150 million amid heated battle with JD.com and Alibaba.

🍕 Food Delivery

Citi Sells Swiggy Shares to BNP Paribas Amid App Reshuffle and Financial Losses.

In a notable shift in investor hands, Citigroup Global Markets, the investment banking and brokerage arm of US-based Citigroup Inc., has offloaded its stake in food delivery unicorn Swiggy (Indian Startup Times).

Swiggy launches ’99 Store’ for budget-friendly meals in 175 cities.

In a calculated move to attract Gen Z consumers and price-conscious diners, food delivery major Swiggy has launched a new segment on its platform called the ‘99 Store’. The offering includes single-serve meals priced between Rs 49 and Rs 149 and is now available in more than 175 cities, including major metros like Bengaluru, Delhi, and Mumbai (Indian Startup News).

Meituan’s daily orders hit record 150 million amid heated battle with JD.com and Alibaba.

Daily delivery volumes at the mainland’s top on-demand delivery giant reached 150 million from 120 million last week (SCMP).

Alibaba delivers 80 million orders in 1 day amid fierce price war with Meituan, JD.com.

Meituan, Taobao, Ele.me and JD.com shower consumers with freebies and promotions, leaving customers gleeful and merchants overwhelmed (SCMP).

Jahez Acquires 76.6% of Qatar’s Snoonu in $245 Million Deal.

Saudi-based delivery firm Jahez acquires 76.6% of Qatar’s Snoonu for $245 million, boosting its presence in the GCC’s on-demand and logistics markets (Cairo Scene).