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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.
A more than 50% drop in revenue and twofold increase in net loss, combined with a Rs 1,700 crore debt raise, signal deepening troubles for the EV company.
In a surprising move, the much-loved company in the UAE is no longer offering free delivery and, in a first, is out to raise funds.