The quick commerce euphoria has done well to mask the grim reality of the food delivery business, once billed as Zomato’s core value proposition.
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The recent spate of exits at the newly independent VC firm is not a surprise. It is a reset for a fund that’s so far operated as if it is special and now has to adjust to new realities.
With the rise of quick-commerce services, some apps now allow users to compare the prices of the same product across platforms.
Crippled by late entry into instant delivery and Tata Digital’s disproportionate attention to its super app, Big Basket today lags far behind peers. As if it weren’t enough, parent Tata Sons has now pulled back from a proposed funding round.