Swiggy’s diversification into multiple services is now drawing criticism with analysts questioning whether the food and grocery delivery major is spreading itself too thin. What was once hailed as a smart strategic hedge is increasingly being perceived as a risk of over-extension.

In the past six years, Swiggy has launched a slew of verticals, like Dineout, Instamart, Scenes, Snacc, Bolt, InsanelyGood, Assure, Rare, Minis, Swiggy Maxx and most recently, the services marketplace Pyng. While the intent was to boost revenue and leverage its logistics platform, not all ventures have sustained momentum.For instance, Swiggy recently shut down its hyperlocal delivery service, Genie, citing operational challenges. Similarly, InsanelyGood was folded into Instamart last year.