Online food ordering segment has played host to a number of new entrants and new developments in recent time. Close on the heels of several eCommerce companies going ‘Mobile app-only’, Faasos to soon follow the same suit.
We have been witnessing many big players shifting to the mobile app-only platform over the last few months. According to the latest developments in the online food ordering industry, Faasos, one of the known names in the food technology business is also switching their allegiance to it. This would make the company, the first food tech company to go app only in India. Since its incorporation in 2011, Faasos has carved out a niche for themselves in the online food ordering market. The company’s quick and efficient delivery and taste-efficiency factors have already earned some brownie points with the customers over their competitors. On the technical front, Faasos focuses on all the 3 pivotal factors of ‘Food on Demand’ business. The success story of Faasos has been written via their easy ordering, large distribution and last-mile delivery. Last year, Faasos was also named as the most convenient ordering app in the country.
With a vision to expand its reach to even the most remote sectors of the country, Faasos’s expansion plan has been supported by a series of investments. The company had raised Series A investment from Sequoia Capital and Series B investment by Lightbox Ventures, Sequoia Capital and Innoven Capital in the year 2012 and 2015 respectively. The company strives on providing their customers with a long variety of scrumptious meals at any given time of the day. Staying true to its tagline, ‘We Got Your Food’, Faasos has been aiming to be the best in business for a long time.
The company noticed that 97 percent of their delivery was coming through the mobile app. Shedding light on the decision to go app-only, Mr. Revant Bhate, Head of Marketing, Faasos said, “Faasos has built a niche place for itself in the food ordering space across top 10 cities in India viz. Mumbai, Gurgaon, Delhi, Pune, Vadodara, Ahmedabad, Bengaluru, Chennai, Hyderabad and Indore. Surprisingly, even tier 2 cities have shown tremendous traction for ordering via the App which led to 97% of our delivery sales coming from the Mobile App.” Along with earning a lot of accolades for its operation, the Faasos app has a distinct advantage over its fellow competition. It is not just a representation of the website offering, but the entire proposition only works best on the App. Along with focusing on the major cities, Faasos is also looking to expand aggressively across the Tier 2 cities to generate revenues with big margins. “Imagine the consumer seeing a different menu, during breakfast, lunch, snacks and dinner at every location that (s) he is present in along with a dynamic estimated delivery time based on the product you order and how far one is from the delivery location. Faasos have built this propriety technology in-house and is the World’s first Food business to provide these features in real time. All this is not possible when someone orders via a phone call or through a website”, concluded Mr. Revant Bhate.