Things not looking good for Dunzo - 50% Salary paid to Managers and above this month
- Severe cash crunch - The remaining 50% of salary is expected to be paid on 15th July - Reliance not willing to invest more funds - Talks ongoing with PhonePe and Paytm for acquisition (Dunzo would support their ONDC backend delivery logistics)
BiryaniEnthu
Stealth
a year ago
Okay, unrelated but I have heard reliance invests to destroy.
Most of reliance new age investments, major stakes are under extreme cash loss
Hmm, 🤔 Dunzo-Reliance was supposed to be a win-win partnership. Dunzo was running the logistics for Jiomart Business under its B2B vertical.
Cafeinatedpragmatist
Stealth
a year ago
Nah, doesn't work that way. Most startups run under cash losses, why would it be different for the ones they acquired.
I'll admit that they buy at very depressed valuations but I'm guessing that's because they probably do it for the tech rather than to run a standalone business.
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EarthDragon
Stealth
a year ago
wow again?
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😆 I don't even remember when I switched off notifications completely from these shopping apps
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They have lost their way ever since their OG leadership left in late 2021. Kaustabh, Anirban, Kartik, Brijesh. The new leadership burnt through 250M in 12 months.
poco007
Stealth
a year ago
lol - the so called OG leadership is the reason behind Dunzo’s failing market share from 2017
EarthDragon
Stealth
a year ago
Haha well said! Politics and paise chaape nothing else from these. OG 😂😂😂
Zepto has recently started free delivery for orders above 99 rs, made me suspect of their cashflow as well !!
Unsustainable in simple terms. And they are aiming for an IPO in 2 years.
himachal
Stealth
a year ago
Bhai tel ka paisa hai
Qwerty2398
Stealth
a year ago
Prople who changed iobs to join this company for money deserve it. What were you thinking?.. its a local courier company. Did you think it will become the google of logistics?
Randomization
Stealth
a year ago
I don't think this has come in limelight, yet.
As per their careers page, they still have openings.
TurningBrain
Stealth
a year ago
Careers page are never updated unless HR is receiving to many applications
aanhserk
Stealth
a year ago
Dunzo is still active? I assumed swiggy acquired them last year or something
aanhserk
Stealth
a year ago
Thats a bummer. Hopefully affected folks can land somewhere else🤞
car_guy
Stealth
a year ago
Read their past year financial statement -> revenue is 60 crores and expenses almost 500 cr. No brainer this would have been the outcome
Even after getting a funding of $75m few months back if they can't pay their staff it's a guaranteed implosion. Dunzo is going to be history, but will miss my favourite app used a lot during COVID times.
deepjinx
Stealth
a year ago
Design & creative teams at Dunzo, you definitely left an impression and set a benchmark 👏 unfortunately the business couldn't do justice.
Salaries will come on 20th. For managers above 20LPA this is done. They have runway for 12 months, but question is pmf
Even if PhonePe or Paytm acquisition happens there will be a lot of layoffs i guess.
1
Stealth
a year ago
Looks like this post went viral, Dunzo is all over the place!
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