The shutdown raises questions about the ride-hailing company’s financial health and whether it is restructuring in light of recent developments involving Gensol Engineering.
Subscribe to read this story
We publish over 500 original, detailed stories every year on startups, corporates, stock markets and economic current affairs.
Limited time offer $125 $99 for 1 year
Marred by multiple challenges, BluSmart, once a star of the Gensol universe, has become a black hole.
Anmol Jaggi has led Gensol to disaster. As investors face the brunt of his mistakes, the only question to answer is: is he incompetent or is there malice in his actions? For any answer to emerge, he must first step aside.
In the face of far more competent ride-hailing rivals and with a limited fleet of luxury cars, the startup is unlikely to make a dent in the UAE market.