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DUNZO FINANCIALS
Gig workers’ union calls for five-hour shutdown over rising fuel costs; protest on SaturdayGig and platform service workers are planning a five-hour nationwide shutdown on Friday to protest rising fuel prices and stagnant pay. The...- IT reworks hiring for Gen Z; HCLTech CEO on AIHappy Thursday! India’s IT sector is seeing a sharp rise in replacement hiring as Gen Z professionals switch jobs faster. This and more in ...
- Indian IT pack falls; MeitY’s e-gaming rulebookIndian IT stocks suffered on Wednesday after HCLTech’s weak Q4 numbers. This and more in today’s ETtech Top 5.
- Dunzo’s demise: How the Reliance-backed hyperlocal delivery startup unravelledDunzo, once a pioneer of hyperlocal delivery in India, faced operational and financial challenges leading to its decline. Founder Kabeer Bi...
- Innovaccer & Giva funding; restaurant body vs Zomato, SwiggyHappy Friday! The deal counter is buzzing with new funding rounds across sectors. This and more in today’s ETtech Morning Dispatch.
- Dunzo cofounder Kabeer Biswas to head Flipkart quick commerce business MinutesKabeer Biswas is leaving cash-strapped Dunzo, backed by Reliance Retail, after more than a year of grappling with funding issues. Biswas wi...
- Dunzo’s survival hinges on Reliance; Q&A with Instacart founder Apoorva MehtaReliance Retail, which is an investor in Dunzo, is yet to sign off on a much-needed capital infusion in the cash-strapped company. All abou...
- Dunzo’s auditor flagged issues with firm’s ‘going concern’ statusIn accounting parlance, a ‘going concern’ is an entity that has sufficient resources to continue making money and avoid the risk of bankrup...
- Financial report card for Nykaa, Dunzo; Byju’s in talks with Joffre for Epic saleFSN E-Commerce, the parent entity of omnichannel beauty and fashion retailer Nykaa, saw its Q2 profit jump 50%. Cash-strapped Dunzo also di...
- Dunzo may get fresh funds but at a price; Amazon’s $4-billion AI betTroubled quick commerce startup Dunzo may finally find some relief, but conditions will apply. The startup could soon close a funding round...
- IT sector drives strong PE interest; Dunzo delays June-July pay yet againData shows the number of private equity (PE) firms holding stakes in Indian IT services companies has doubled between 2019 and 2022 as inve...
- Dunzo holds talks with debt investors to rejig credit termsDunzo’s efforts come at a time when it has simultaneously been looking to arrange new capital from both existing and new investors. In June...
- Dunzo faces legal notice from seven firms over unpaid duesDunzo had received legal notices from Google India, Nilenso, Clover Ventures, Facebook India Online Services Private Limited, Cupshup, Koo ...
- Dunzo’s downfall: from startup star to sinking ship? and other top tech stories this weekThis week was Dunzo’s worst ever since it pivoted to quick commerce with Dunzo Daily in 2021. At ETtech, we have been closely tracking the ...
- Dunzo partners with Alliance Insurance Brokers to provide personal accident insurance cover to delivery partnersThrough this initiative, the insurance service provider, risk manager and reinsurance broker is providing insurance protection to almost 20...
- $240 million delivered, Mukesh Ambani-led Reliance Retail picks up 25.8% stake in DunzoThe Reliance-Dunzo deal has more than doubled the valuation of the Bengaluru-based startup to $775 million. Dunzo is planning an IPO in the...
- RIL shares up 1% after Reliance Retail buys stake in DunzoPost this deal, Reliance Retail is now the largest shareholder in Dunzo.
- Dunzo's FY21 revenue up 67%, losses narrow by 33%Dunzo's gross merchandise value, the total value of transactions through the platform including delivery fees, stood at Rs 590 crore in FY2...
- Dunzo lands $40 million in funding from new and existing investorsDunzo said it plans to focus on sustainable growth across its fastest-growing cities such as Mumbai, Chennai, and Pune in the coming year.
- Google makes first direct investment in India, funds hyper local startup DunzoIf it expands nationally, it may cater to up to 10 million customers who might need its services six to seven times a month.
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