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)
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.
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.
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.
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?
Bhai itna salty kyon hai?
not even 50%. only 75k. rest they will pay idk when