Coca-Cola’s move to buy a minority stake would be the company’s first investment in a start-up in the Indian market
Beverage maker Coca-Cola is reportedly all ready to acquire a minority stake in online food ordering place Thrive. As per the available information, Thrive has partnerships with over 5,000 restaurants and is usually seen as a direct competitor of Swiggy and Zomato.
According to a report in the Economic Times, Coca-Cola’s move to buy a minority stake would be the company’s first investment in a start-up in the Indian market. However, as of now, the finer details and the size of the deal are not known and more information is expected after the deal gets formalised.
“The strategic investment will give Coca-Cola a distinct edge over rivals, as it will push consumers to order only Coca-Cola’s beverages along with the food orders they place on the Thrive app, help them to customise orders, sell package deals and meal combinations, and push loyalty codes,” ET quoted a source as saying on the Coca-Cola and Thrive deal.
Coca-Cola’s move to buy this minority stake would also be big for both the beverage giant and for the Indian start-up industry as the company usually has a pattern of exclusive global partnerships like with McDonald’s etc.
The source, as per the ET report adds, “The stake acquisition by Coca-Cola will drive consumer engagement for the beverage maker with both restaurant and consumers, and give it access to consumer data since Thrive has a large base of mid-sized restaurant partners offering diverse cuisines.”