Coca-Cola To Buy Minority Stake In Food-Ordering Platform Thrive

Coca-Cola, a global beverage company, is getting ready to invest for the first time in an Indian startup. It is apparently investing in a small portion of the food delivery service Thrive, which competes directly with Swiggy and Zomato. Over 5,500 eateries have partnered with the search and delivery platform Thrive. According to executives with firsthand knowledge of the situation, this will be Coca-Cola's first investment in an Indian company. They were unable to determine the deal's value, though.

The strategic investment will offer Coca-Cola a clear advantage over its competitors, according to The Economic Times, which cited an executive. This will encourage customers to purchase exclusively Coca-Cola beverages in addition to their food orders. Additionally, they will assist customers in customising orders, purchasing package offers, meal combos, and loyalty cards. Due to Thrive's extensive network of mid-sized restaurant partners, the agreement will also aid Coca-Cola in increasing consumer engagement.

In late 2021, Domino's operator Jubilant FoodWorks paid roughly Rs 24.75 crore for a 35% stake in Thrive. The business stated at the time that it would be able to advocate for consumer direct delivery and have access to customer information. In addition to its aerated Coke and Thums Up beverages, Coca-Cola now sells Minute Maid juices, Kinley water and Georgia coffee.

In order to allow customers to purchase food from a list of restaurant partners, Dhruv Dewan, Karan Chechani, and Krishi Fagwani founded Thrive in 2020. Additionally, it offers eateries the chance to create their own sub-portals. Prior to being introduced as Thrive Now in the midst of the epidemic, its previous incarnation, Hashtag Loyalty, was established in 2015 with a focus on offline food retail businesses. Razorpay, a payments company, and Jubilant Foodworks, which owns Domino's master franchise in India, are two of its investors.

(PTI)