Platform for online food ordering and delivery Swiggy is expected to become the Indian Premier League’s (IPL) sixth official on-ground sponsor, according to two sources familiar with the situation. Tata Safari, Dream11, Unacademy, Cred, and Upstox are the five official IPL partners currently recognised by the Board of Control for Cricket in India (BCCI).
“Swiggy has signed on as the IPL’s sixth official partner,” one of the people quoted above claimed. According to another source, the one-year deal is worth Rs 35 crore. Until the time of posting this report, Swiggy had not responded to inquiries about the development.
IPL has been a crucial property for Swiggy in terms of increasing awareness and acquiring new consumers. It has spent a lot of money on IPL marketing in the last three years, including TV and internet sponsorships. It was one of the sponsors for the IPL broadcast on Disney+ Hotstar for the 2021 season. For IPL 2021, it had also partnered with the Royal Challengers Bangalore (RCB) squad.
According to a user name, @man4_cricket tweeted from his Twitter handle that swiggy has been the official sponsor of IPL 2022.
IPL's Offical Sponsor is now Swiggy.
— CricketMAN2 (@man4_cricket) January 19, 2022
According to experts, the on-ground sponsorship will allow it to develop a 360-degree relationship with IPL fans across different touchpoints.
Bundl Technologies, Swiggy’s parent firm, spent Rs 1034 crore on advertising for the fiscal year ended March 31, 2020, compared to Rs 776 crore in FY19, according to financial data accessed by business intelligence platform Tofler.
For the fiscal year under review, the company reported a 115 percent increase in revenue to Rs 2,776 crore. During the same fiscal year, the company’s net loss increased by 61% to Rs 3,768 crore. For the fiscal year, the company’s total expenses were Rs 6,545 crore.
