First, they had a layoff. Some people in the leadership quit. Middle management people are quitting. They shut down majority of the dark stores. They are pivoting their business. They are out of runway.
It would be sad to see such a pioneer company in the offline delivery space go away. Hope they make it.
Ya sadly good things are dying
Why do so many people feel this way about so many companies? Does no one care about business models? In FY22 Dunzo made a revenue of 54 Cr, and a loss of 464 Cr. Any college grad can be a pioneer. Just think of an idea when drunk and somehow get people to throw cash due to zirp era and burn through it. There is no way such a huge burn should be survivable unless you keep raising. You can never survive on the basis of your business.
Interviewed with Dunzo a while back. Their CFO sits in the US while the company burns through cash. They expect people to work as ICs on the get go and without supervision. I feel like they are going to implode.
Why would the CEO of an India based delivery startup be based in the US? Weird
Because he needs to be close to the place where all the real innovations are happening. He’s thinking big and can’t bother with the peasants in india scurrying around for order taking and fulfilment. (I’m joking)
Last year I went through a Dunzo interview process. Understood both engineering talent, culture is shit. Company culture is shit. Shit show is running on the name of some innovations this is going to stop soon once they fail to raise the next round of funding and run out of runway. Reliance is not going to keep on bumping the money into something that is not yelling any returns. The same thing is going to happen with the Zepto and Blinkit.
bro even myntra was supposed to go public 5 years back and then the founder sold and took the exit
In simple words they know what the future holds for the company. So the best way for them is to sell the company make money and leave the company. People start a company to make money. The same was done by Whitehat Jr founder as well. He knows what the future holds.
Reliance dips their feet in multiple waters. Things that take off is where they are heavily invested in. So if it's a sinking ship pretty sure going down quickly as it's cost intensive business.
Dunzo laying of 20% or 200 employee (approx) majority in tech and product. Is this end of dunzo?
Hope they get their severance packages (I mean salary).
Okay, unrelated but I have heard reliance invests to destroy. Most of reliance new age investments, major stakes are ...
dunzo laid off ~20-25% of it's workforce today, calling it that they overhired, pretty pre-planned. And coincidentally some dept. heads are on leave for the next few days, unavailable to answer their team. I wonder why these people eve...
