Dunzo, a fast-commerce platform currently grappling with issues such as salary delays, layoffs, and employee discontent, is now confronted with an additional challenge following the departure of one of its co-founders. Dunzo co-founder and CEO Kabeer Biswas confirmed the development and said,” Dalvir has been instrumental in building out every new line of business at Dunzo. He has been the key zero to one person from the founding team that just gets things Dun. He has been meaning to take a break for sometime now – and with 6+ years spent building Dunzo, he plans to move forward to pursuing new journeys.”
Biswas also added that the firm is making some organization-wide changes in restructuring the business starting this quarter.
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Dalvir Suri’s Departure After Deliberations
Dalvir Suri became part of the company in May 2015. Although the specific cause for his exit from the company remains undisclosed, according to an ET report, it was the result of conversations and deliberations with Biswas over the past few months.
As per data intelligence platform TheKredible, Biswas holds 3.56% equity in the company and is the only equity holder among the co-founders which also include Mukund Jha, and Ankur Agarwal.
The development has come at a time when the company has been delaying salaries of employees for the past couple of months. As per media reports, it has further postponed salaries to the first week of October.
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Dunzo’s Battle for Survival and the Quest for Fresh Funding
The company is facing a survival challenge and looking for a fundraise. Media reports also suggest that Dunzo may be able to raise $30-35 million in new funding. It counts Google, Reliance and Lightbox, among others as its key investors and has raised around $475 million to date.
Dunzo has let go of over 400 employees this year in three batches and after the latest statement from Biswas, more layoffs can not be ruled out.
While the company is yet to disclose its financials for FY23, it registered Rs 54.3 crore in revenue from operations in FY22 from Rs 25.1 crore in FY21. The company’s losses stood at Rs 464 crore in FY22 against Rs 229 crore in the previous year.
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