WhatsApp is likely one of the most used messaging platforms on the earth, with tens of millions of customers accessing the Meta-owned app to speak every day. Though WhatsApp was initially launched as only a messaging platform, over time it developed into one thing a lot larger. Whereas some folks use WhatsApp to speak with folks, a bunch of individuals used the platform to begin an organization that was final valued at over $100 billion. ₹6200 crore. Presently within the information for shedding 150 staff and dealing with simply 50 staff within the core workforce, the corporate we’re speaking about is Dunzo. For these unaware, Dunzo is a quick grocery supply platform that’s at present working in main cities throughout India. Money-strapped Dunzo is fighting mounting liabilities and wage arrears.
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How a WhatsApp group turned a ₹6200 crore Dunzo rupees
Kabeer Biswas, together with Ankur Agarwal, Dalvir Suri and Mukund Jha, launched Dunzo throughout his transfer to Bengaluru following the acquisition of his first startup, Hoppr, by Hike. This transition supplied Kabeer with a lift to additional his entrepreneurial ambitions. Initially a software program engineer, Kabeer explored his pursuits by working at a plastics manufacturing unit in Silvassa earlier than deciding to pursue an MBA. He honed his enterprise acumen with Airtel, specializing in gross sales and buyer assist.
Dunzo initially supplied supply companies for groceries, necessities, and different merchandise lengthy earlier than rivals like Blinkit and Swiggy Instamart got here alongside. It began as a WhatsApp group the place prospects might place their orders. Due to regular progress and funding, Dunzo developed a devoted app and expanded to different cities.
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Mukesh Ambani’s Reliance Retail took an curiosity within the rising startup and ended up investing USD 200 million ( ₹1600 crore). The funding raised Dunzo’s valuation to over USD 775 million (greater than ₹6,200 crore), in keeping with The Occasions of India. Nonetheless, the corporate has been in disaster for fairly a while. It has delayed salaries of its staff a number of instances over the previous 12 months and has posted a lack of ₹1,800 crore in FY23, a rise of 288 per cent over the earlier 12 months.
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