Swiggy, Zomato food biz risks a 20% valuation cut if Rapido executes well: Elara Capital

Rapido, best known for bike taxis, is now taking on Swiggy and Zomato in food delivery—and it could be a game changer. If things go right, this new challenger might not just grab market share but also knock down valuations of the incumbents, says Karan Taurani, Executive Vice President at Elara Capital.

So what makes Rapido different from past entrants? For starters, it already has a major edge in logistics. “Rapido has got a large fleet of scooter riders all across the country, almost about four million riders,” Taurani pointed out—something…