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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
In view of the rise in losses and expenses, it makes all the more sense for the 12-year-old cloud kitchen startup to go offline.
This week, Rebel Foods filed its financial statement for the 2022-23 financial year. The cloud kitchen company, which runs popular brands like Faasos and Behrouz Biryani, posted a loss of Rs 656.5 crore during the period, as against Rs 534.2 crore in the previous fiscal. While it saw a 39% increase in revenue to Rs 1,195 crore, its expenditure also rose 28% year on year to Rs 1,827 crore.
Clearly, the numbers aren’t great, especially the rising costs. But they do tell an interesting story when set against everything that the company has been doing in recent months. The 12-year-old …
India’s grocery and food delivery platforms are increasingly displaying misleading images of food using artificial intelligence, defeating the very purpose of buying online.
Parent AceVector is headed for a public market debut next week. As much as 97% of its revenue comes from two businesses. One is already a listed entity, the other a missed opportunity.
After 15 years, more than $550 million in funding and over $200 million in revenue, the cloud kitchen startup must find a way to make a profit and go public. Grover is the man Rebel has chosen for the job.
