Startups are defined by one of two things: Breakneck pace of growth or a sweet bottomline. While Dunzo may be trying hard, it is fumbling at both.
Three years. That’s the time Kabeer Biswas, co-founder and CEO of Dunzo, sees the hyperlocal logistics company taking to stop relying on external capital and start making money on its own.
Overly optimistic, from a quick look at the numbers. The latest financial statement, for the fiscal year ended 31 March 2019, and a valuation report dated 20 March show losses ballooning to Rs 332.4 crore in fiscal 2019-20, up from Rs 168 crore in 2018-19. That’s almost a crore a day. The report puts outstanding losses at nearly Rs 540 crore as per annualized figures. The filings also show …
Nikhil used to a writer at The Morning Context. He is a graduate of the Asian College of Journalism, and has worked with several publications including the Deccan Herald, The Hindu and The Indian Express. He has reported on a wide range of topics, from technology to automotives to books.
nikhil@mailtmc.com