New Delhi: Bengaluru-based hyperlocal delivery startup Dunzo is facing further leadership changes as co-founder and CEO Kabeer Biswas is set to depart the company, according to a report by Moneycontrol. This follows the earlier exits of co-founders Mukund Jha, Dalvir Suri, and Ankur Agarwal.
The news comes amidst a period of financial turmoil for Dunzo. The company has reportedly been unable to clear employee salaries for over 18 months, with Biswas himself not receiving a salary for nearly 20 months. This financial strain has been attributed to the company’s aggressive cash burn and intense competition from established players like Swiggy Instamart, Tata BigBasket, and Zomato’s Blinkit.
Dunzo, which began as a WhatsApp group in 2014, quickly emerged as a prominent player in the hyperlocal delivery space. The company attracted significant investments from major players like Reliance, Google, Blume Ventures, and others. However, despite its initial success, the company has struggled to achieve profitability and has faced mounting financial challenges.
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Earlier this year, Dunzo was reportedly in discussions with food delivery giant Swiggy and e-commerce player Tata’s BigBasket for a potential buyout. However, these negotiations ultimately fell through.
The departure of Biswas marks a significant turning point for Dunzo as the company navigates these turbulent waters. The future of the company remains uncertain, and it remains to be seen how it will address its financial challenges and maintain its position in the competitive hyperlocal delivery market.
