Amazon and Flipkart enter India's 10-minute delivery market, wiping $15bn from Eternal and Swiggy
Amazon and Walmart-owned Flipkart are moving into India's 10-minute delivery market, directly challenging the pioneers of the segment — Eternal Ltd. and Swiggy Ltd. The threat triggered a combined $15 billion stock market rout for the two Indian companies. Eternal and Swiggy had built the rapid-delivery model in India, but now face competition from global e-commerce titans with far greater resources.
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