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Dunzo, backed by Reliance and Google, delays employee salaries again

From TechCrunch

By Manish Singh

August 30, 2023

Dunzo, backed by Reliance and Google, delays employee salaries again

Dunzo informed its employees on Wednesday that it would not be able to meet the postponed deadline for their monthly wages as trouble mounts at the hyperlocal delivery startup that expended over $150 million in the last 18 months trying, unsuccessfully, to emulate the model of its younger competitor, Zepto. The Bengaluru-headquartered startup, backed by […]

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Jul 19, 2023

Reliance-backed Dunzo defers staff pay again amid funding search

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Dunzo, a hyperlocal delivery startup in India, is postponing employee salaries for a month and intends to settle remaining dues from the previous month also in September as the Google and Reliance Retail-backed startup hunts for new funding. The Bengaluru-headquartered startup, which partially deferred making payroll for last month until this week, said Wednesday that […]

Jul 19, 2023

Reliance-backed Dunzo nears fresh funding of $50 million

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The Indian hyperlocal delivery startup Dunzo is in late-stage discussions to secure about $50 million in a new financing round, two sources familiar with the matter told TechCrunch, as the Bengaluru-headquartered startup scrambles for comfort in an otherwise funding winter for younger firms. Reliance Retail and Google, two existing backers of Dunzo, are among those […]

Mar 30, 2023

Flipkart makes $700 million payout to employees following PhonePe split

Flipkart makes $700 million payout to employees following PhonePe split

Flipkart commenced a $700 million “one-time discretionary” cash payout to employees on Friday, the single-largest such compensation in the Indian startup ecosystem. The Walmart-backed Bengaluru-headquartered startup is compensating employees for the separation of fintech PhonePe from the e-commerce group, a move that devalued Flipkart’s shares. The two firms completed a full ownership separation late last […]

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India’s Dunzo defers staff pay, to cut jobs amid funding search

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Dunzo, a hyperlocal delivery startup in India, is postponing employee salaries for a month and plans a new wave of layoff as the Google and Reliance Retail-backed startup pares its expenses amid aggressive hunt for new funding. The Bengaluru-headquartered startup, which partially deferred making payroll for last month until this week, said Wednesday that it […]

Jul 19, 2023

Reliance-backed Dunzo defers staff pay again amid funding search

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Dunzo, a hyperlocal delivery startup in India, is postponing employee salaries for a month and intends to settle remaining dues from the previous month also in September as the Google and Reliance Retail-backed startup hunts for new funding. The Bengaluru-headquartered startup, which partially deferred making payroll for last month until this week, said Wednesday that […]

Jul 19, 2023

Reliance-backed Dunzo nears fresh funding of $50 million

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The Indian hyperlocal delivery startup Dunzo is in late-stage discussions to secure about $50 million in a new financing round, two sources familiar with the matter told TechCrunch, as the Bengaluru-headquartered startup scrambles for comfort in an otherwise funding winter for younger firms. Reliance Retail and Google, two existing backers of Dunzo, are among those […]

Mar 30, 2023

Flipkart makes $700 million payout to employees following PhonePe split

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Flipkart commenced a $700 million “one-time discretionary” cash payout to employees on Friday, the single-largest such compensation in the Indian startup ecosystem. The Walmart-backed Bengaluru-headquartered startup is compensating employees for the separation of fintech PhonePe from the e-commerce group, a move that devalued Flipkart’s shares. The two firms completed a full ownership separation late last […]

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