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DUNZO TOWN HALL
Fresh layoffs begin as beleaguered Dunzo looks to prune costsSources aware of the matter said several employees have now been told their roles would be redundant as the company needs to save capital b...- Cash-strapped quick commerce startup Dunzo eyes $20 million more from Reliance RetailReliance Retail owns a 25.8% stake in Dunzo, while Google holds just under 20%. Reliance Retail’s shareholding is expected to increase in t...
- Premium products power online sales as mass-market hit by slowdown; ISRO grey cells fuel spacetech startupsEcommerce sales — excluding smartphones — have surged 24% in Q2. Industry insiders and research firms indicate that the growth in smartphon...
- Reliance-backed Dunzo may cut more jobs; defers 50% of June salary amid cash crunchDunzo has already cut jobs twice this year. In April it fired 30% of its workforce, or more than 300 people, and simultaneously planned a s...
- Vedanta-Foxconn $19.5 billion JV is off; More cost cuts at cash-strapped DunzoBarely a year after Taiwan’s Foxconn signed a joint venture with Indian conglomerate Vedanta to set up semiconductor manufacturing plants i...
- ETtech Deals Digest: Startup funding plummets 90% in April versus last yearHere are the biggest startup fundraises for April.
- Scoop: PharmEasy valuation halved to $2.8 billion, logs ebitda profitability; Paytm’s loan biz decodedOnline pharmacy PharmEasy recorded a positive ebitda of around Rs 14 crore, which means it is operationally profitable, even as one of its ...
- PharmEasy logs first ebitda profit of Rs 14 crore in April, restarts funding talksThe epharmacy held discussions with CDPQ, ADQ; convertible notes are also being discussed amid valuation corrections and markdowns.
- Ecommerce startup Meesho cuts 15% workforce; layoffs amount to 251 employeesCEO Vidit Aatrey tells staff firm made judgment errors in over hiring, now aligning people cost with new biz projections
- MeitY’s new online gaming rules explained and other top stories this weekThe Ministry of Electronics & Information Technology (MeitY) will notify at least three self regulatory organisations (SROs), which will de...
- Dunzo lays off 300 employees amounting to 30% of its workforceBesides layoffs, Dunzo is also likely to cut about 50% of its dark stores and run only those that can be profitable or are nearing that thr...
- Exclusive: Dunzo secures funding via convertible notes, lays off 30% of staffAbout $50 million of the funding is coming from Google and Reliance Retail while other existing investors are putting in the rest.
- Scoop: Dunzo secures $75M via convertible notes, fires 30% staff; Tim Cook may visit India as Apple opens first company-owned storeReliance Retail-backed quick commerce startup Dunzo has secured funding of $75 million through convertible notes. It is also laying off abo...
- Exclusive: Dealshare lays off 100 employees; Oyo eyes first profitable yearLast year, Dealshare expanded to 150 cities and towns across India as it chased growth above all else. Now, the company has laid off 100 em...
- Reliance-backed Dunzo is shifting gears as quick commerce hype settlesThe quick delivery startup is pushing users to opt for 60-min deliveries and grouping orders to cut delivery costs.
- Dunzo shifts growth gears; Shiprocket is 20th unicorn of 2022After that round, the company stepped on the gas as it looked to expand operations amid intense competition from rivals like Swiggy’s Insta...
- How Blinkit is integrating with Zomato’s Hyperpure after its long-awaited acquisitionBlinkit is expected to shut most of its own backend fulfilment warehouses and merge them with Zomato’s business-to-business restaurant supp...
- The rise of dark stores: Unused cinemas & marriage halls become hub of 10-minute delivery servicesAs the pandemic gave wings to online delivery, everyone wanted everything at their doorsteps, and fast, paving the way for quick commerce a...
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