Ahead of its IPO, the startup is at its most vulnerable. With a quick commerce mainstay that trails Zomato’s Blinkit by a distance—and is burning cash to play catch-up—profits will clearly have to wait.
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The instant commerce startup has grown too fast and seems to be undergoing chaos of late. Up against several well-funded, entrenched players, it needs to get its house in order.
It is becoming increasingly clear that the startup ecosystem is stuck with building for the top 3% of Indian society. Now consumption in even this rarefied segment is under pressure.
Chinese giant Meituan has made quite a splash in Saudi Arabia. With its impending launch in the Emirates, it will rival Dubai’s food delivery majors Talabat, Deliveroo, Careem and Noon.