Dunzo CEO Kabeer Biswas Steps Down Amid Financial Troubles
Dunzo CEO Kabeer Biswas Resigns Following Financial Struggles, Failed Buyout Talks, and Leadership Exodus
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Kabeer Biswas, co-founder and CEO of Dunzo, is reportedly stepping down from the hyperlocal delivery startup, according to a report by Moneycontrol. His exit follows the earlier departure of co-founders Mukund Jha, Dalvir Suri, and Ankur Agarwal, signaling a significant leadership shift.
The company had been in discussions with food delivery giants like Swiggy and Tata's BigBasket for a potential buyout deal, but these negotiations fell apart, Moneycontrol reported. Dunzo has also faced severe financial challenges, including failing to clear employee salaries for over 18 months. Notably, Biswas himself has gone nearly 20 months without pay.
Dunzo, launched in 2014 as a WhatsApp group, quickly became a prominent player in the hyperlocal delivery market, drawing investments from major players like Reliance, Google, and Blume Ventures. Despite competing with established platforms like Swiggy Instamart, Tata BigBasket, and Zomato’s Blinkit, Dunzo’s aggressive cash burn strategy and intense market competition have stifled its growth.
