Kabeer Biswas, the co-founder and CEO of Dunzo, is reportedly set to depart hyperlocal supply startup, as per a report by Moneycontrol. His exit comes after fellow co-founders Mukund Jha, Dalvir Suri, and Ankur Agarwal additionally parted methods with the corporate.
The corporate had reportedly been in discussions with meals supply platform Swiggy and Tata’s BigBasket for a potential buyout, although these negotiations finally fell aside, in line with Moneycontrol.
The report additional revealed that the corporate has didn’t clear excellent salaries for its staff for greater than 18 months, with Biswas not receiving a wage for practically 20 months.
Based in 2014 as a WhatsApp group, Dunzo rapidly grew into a significant participant within the hyperlocal supply house, attracting investments from Reliance, Google, Blume Ventures, and others. Regardless of competing with giants like Swiggy Instamart, Tata BigBasket, and Zomato’s Blinkit, the corporate’s aggressive money burn and heightened competitors have impacted its development.
Written with the View : afaqs
