Hyperlocal supply service Dunzo’s app and web site have gone offline days after information broke that its co-founder and CEO Kabeer Biswas has joined Flipkart to work on its fast commerce providing.
In accordance with a report by Inc42, all the firm’s workers have left as information of pending salaries and investor exits cloud the startup.
A number of the workers have additionally filed a criticism towards Biswas for his or her pending salaries, the report added.
There have been a number of stories in regards to the firm delaying funds to its distributors and salaries to its workers amid an ongoing funding crunch.
In accordance with an Inc42 report, the corporate’s main investor Reliance has written off its $200 million funding within the platform. The conglomerate, which holds a 25.8% stake in Dunzo from its funding in 2022, is now not concerned in any discussions concerning further funding or a misery sale.
A lot of the firm’s traders, together with tech large Google and enterprise capital agency Lightbox, have additionally departed the corporate’s board of administrators main as much as its web site and apps shutting down.
In accordance with a Moneycontrol report, the corporate was in talks with meals supply platform Swiggy and Tata’s BigBasket for a possible buyout, however the talks fell via.
Biswas can also be the most recent and the final co-founder to step away from the corporate after Mukund Jha, Dalvir Suri, and Ankur Agarwal.
Based in 2014, the corporate final raised $75 million funding a Collection F funding spherical in April 2023. The corporate subsequently fired a lot of workers after the fundraise.
