Eternal CFO questions Swiggy's Toing: 'Unclear what problem it solves'
Akshant Goyal, CFO of Zomato-parent Eternal, publicly dismissed the strategic rationale behind Swiggy's newly launched budget food delivery app Toing, arguing it solves no clear problem for consumers or restaurants. The pointed commentary signals sharpening Zomato-Swiggy rivalry across food delivery and quick commerce.
Eternal CFO Akshant Goyal questioned the strategic rationale of Swiggy's newly launched budget food delivery app Toing, saying it's unclear what problem it solves for consumers or restaurants, as Zomato-Swiggy rivalry intensifies across food delivery and quick commerce.
Why this matters
Public CFO criticism follows JP Morgan noting Toing is pulling ahead of Rapido's Ownly in value food delivery, and comes amid Swiggy's user acquisition push citing 90% of India yet to order online.
Retail-brand signals steady at 1,708 over the last 90 days, reflecting consistent competitive activity.