Swiggy ventures into professional services with new app Pyng

Swiggyhas launched a third app, Pyng, marking its expansion into the professional services marketplace. The development follows the launch of Snacc, a food delivery app by Swiggy.

Currently in its pilot phase, Pyng will enable professionals such as fitness coaches, yoga instructors, dance instructors, language learning, and education coaches to list their services on the platform. The app will allow them to schedule booking, track payments, modify availability, and iterate product offerings.

However, there is no clarity on what kind of pricing structure that will be used for professionals--whether it will adopt a subscription model, a commission-based model, or another pricing approach.

While the services marketplace has seen established players in categories like home improvement, personal care, and cleaning, the market for specialised white-collar consulting roles remains relatively underserved.

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Swiggy's recent offering Snacc in the quick food delivery space, along with its 10-min food delivery feature Bolt and Swiggy Cafe service, places the company in direct competition with other food delivery giants such as Zomato's Bistro by Blinkit and Zepto Cafe. Zomato has also initiated pilots for its 15-min food delivery offering on its app in certain pincodes.

Swiggy had earlier doubled down on its strategy on Super app with major services like food delivery, Instamart, and Genies inside the same app, but there seems to be a shift in focus with the launch of two apps outside of its single app ecosystem. However, it already had standalone apps for DineOut and D2C brands marketplace Minis.

Just a day ago, Bernstein in its research note rated the stock 'Outperform' with a 25% upside in target price as it expects Swiggy to maintain its foothold in the fiercely competitive quick commerce and food delivery markets.