IN THE STREETS of Bengaluru in 2014, Kabeer Biswas used to coordinate deliveries through WhatsApp groups, personally responding to customer requests and managing the first 8,000 deliveries of what would become Dunzo.
The rise was spectacular for Biswas. By 2016, Dunzo became a verb synonymous with convenient hyperlocal delivery in India and boasted millions of users. By 2022, the company achieved a billion-dollar valuation, well and truly setting in motion the habit of convenient delivery as second nature in India – effects of which are now being enjoyed by the likes of Zepto, Blinkit, and Instamart.
But the world has since turned upside down for the 40-year-old MBA from Narsee Monji Institute of Management Studies. After going without a salary for 20 months and watching his co-founders depart, and investors pulling the plug, Biswas is orchestrating what could be his final act at the company: Finding a buyer willing to assume Dunzo’s mounting debt and liabilities.
Biswas, holding a 3.39% stake, remains tied to the company by necessity – corporate law requires a minimum of two directors, preventing his departure until either a sale is completed or the company is liquidated. A plan to sell is currently underway, marking the conclusion of Biswas’s journey at Dunzo.
Denne historien er fra January 04, 2025-utgaven av Financial Express Hyderabad.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra January 04, 2025-utgaven av Financial Express Hyderabad.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Top IITs See a Drop in Campus Placements
● More students likely getting jobs independently
Top IITs see a drop in campus placements
• More students likely getting jobs independently
ICC explores two-tier Test cricket system
ICC chief Jay Shah will meet Cricket Australia chair Mike Baird and his England counterpart Richard Thompson to discuss the finer points
US set to lift curbs on Indian nuclear entities
THE US GOVERNMENT is in the process of removing restrictions on Indian nuclear entities, its national security adviser (NSA) Jake Sullivan said on Monday, in a bid to forge deeper energy ties with New Delhi and bolster a 20-year-old landmark nuclear deal.
Dam over Brahmaputra not to impact water flows to India
CHINA ON MONDAY reiterated its plan to build the world's biggest dam over the Brahmaputra River in Tibet near the Indian border, saying the planned project has gone through rigorous scientific verification and will not have any negative impact on downstream countries -- India and Bangladesh.
D-Street catches flu
HEADWINDS FOR MARKETS
Q-comm boost to gig worker hiring in 2025
THE HIRING BOOM will be driven by the expansion of dark stores, fuelled by new entrants and increased investments from established players.
Banks, NBFCs See Hit to...
THESE SUBSIDIARIES THEN use the data to approach the customer and offer products and services such as insurance, mutual funds, demat accounts and other related financial solutions.
Eight jawans among 9 killed in Naxal attack
IN THEIR BIGGEST strike on security forces in Chhattisgarh in two years, Naxals blew up a vehicle using an improvised explosive device weighing 60 to 70 kg, killing eight security personnel and their civilian driver in Bijapur district on Monday, police said.
Cautious outlook for auto companies in Q3
No segment shows growth except tractors
