Magicpin Targets 5 Lakh Customers for Food Delivery Service by Year-End

Magicpin aims to onboard 500,000 students and corporate customers for its food delivery vertical Inner Circle by December. The service has already enrolled 1.5 lakh customers in its first month, with students from over 3,000 colleges and users from 500 corporates across major cities. Magicpin's CEO Anshoo Sharma says the programme addresses a real need in the market and plans to reach its target by year-end.

Magicpin, a hyperlocal startup, has set an ambitious target to onboard 500,000 students and corporate customers for its food delivery vertical, Inner Circle, by December. The service, which launched in September, has already enrolled over 1.5 lakh customers in its first month Magicpin eyes 500k customers for food delivery vertical 'Inner Circle'^[1]. This rapid adoption suggests strong resonance with its core audience, particularly Gen Z students and young working professionals seeking value-driven experiences.

Magicpin's Inner Circle platform currently serves students from over 3,000 colleges and users from more than 500 corporates across major cities such as Delhi-NCR, Mumbai, Bengaluru, Hyderabad, Pune, and Kolkata. The early success of the program has been attributed to its focus on affordability and access, as stated by Anshoo Sharma, CEO and founder of Magicpin Magicpin eyes 500k customers for food delivery vertical 'Inner Circle'^[1].

Magicpin is backed by Zomato parent Eternal and Lightspeed, positioning it as India's third-largest food delivery platform. The company's success in the food delivery sector is notable, and its e-commerce offerings in the retail segment further bolster its market presence.

Meanwhile, Alibaba Group (BABA) is also making significant investments in the food delivery and quick commerce sectors, with J.P. Morgan analysts expecting the company's growth to accelerate, fueled by strong AI and cloud performance Key facts: J.P. Morgan analysts expect Alibaba's growth to accelerate, fueled by strong AI and cloud performance, with optimistic management on investments in food delivery and quick commerce.^[2]. Alibaba plans a $53 billion investment to boost its AI and cloud capabilities, aiming to rival Nvidia in the AI chip sector.