Bengaluru-based hyperlocal delivery company, Dunzo, a former unicorn is going helpless. last week, the last remaining co-founder of Dunzo, Kabeer Biswas joined India’s homegrown e-commerce giant Flipkart to lead its quick commerce segment called ‘Minutes‘. Following the departure of Biswas, the Dunzo mobile app and website went down.
Flipkart, now owned by Walmart unveiled its plans to acquire Dunzo last year but the deal didn’t go through due to complications in the ownership structure of Dunzo.
It is worth noting that Reliance, India’s multinational conglomerate, and one of the largest stakeholders of Dunzo has written off its $200 million investment from Dunzo earlier this month.
Flipkart launched its quick-commerce platform Minutes in August last year to tap consumers in urban cities in India. The company has already established over 100 dark stores and begun offering high-priced electronic items including smartphones and laptops.
India’s e-commerce sector is witnessing a big-time shift to the quick-commerce segment and it is thriving with a growing number of players including, Zomato-owned Blinkit (formerly Grofers), Zepto, Swiggy-owned Instamart, and BigBasket among others.
Besides this, e-commerce giant Amazon has also been piloting its quick-commerce offering since last month in Bengaluru.
Dunzo was founded in 2014 by Kabeer Biswas who onboarded Ankur Aggarwal, Mukund Jha, and Dalvir Suri as cofounders within its first year of operations. The three co-founders besides Biswas left Dunzo in 2023 and the company underwent organizational restructuring multiple times. At that time the company was struggling to raise fresh funds and suppress spending. Once a thriving Unicorn, Dunzo raised funds from big and notable names including Reliance, Google, Blume Ventures, Lightbox, Blacksoil, and South Korea’s Hana Financial Investment.
There is no report on how Dunzo will operate from now on.
ⓘ LAFFAZ is not responsible for the content of external sites. Users are required to read and abide by our Terms of Service.
