Beverage drink maker Coca-Cola is looking to make a first time investment in an Indian startup, reported the Economic Times. The company is set to purchase a minority stake in online food ordering platform Thrive. The Zomato and Swiggy rival has partnerships with more than 5,500 restaurants.
How will the investment help Coca-Cola
The strategic investment in Thrive will give the beverage maker an edge over its rivals as the platform can push its users to order only Coca-Cola's beverages along with the order they place on the app. Through the app the users can customise orders, sell meal combinations and package deals and also push loyalty codes.
First investment in Indian startup
The giant's acquisition will be its first investment in a startup in India, reported Economic Times quoting executives directly aware of the development. However the details of the deal are yet to be revealed.
The company is hoping the investment will drive consumer engagement not just with the consumers but also with restaurants. Another major benefit for the company is that it can access the consumer data considering Thrive already has a large base of restaurant partners offering diverse cuisines.
A company executive told the Economic Times, "Thums Up for example, goes well with Indian Spicy cuisine while Maaza mango drink can be pushed at restaurants which focus on children."
(To receive our E-paper on WhatsApp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)