Kabeer Biswas, the CEO and last cofounder of Dunzo, is reportedly considering leaving the company, according to a report by The Economic Times.
Talks regarding his potential exit have been taking place with the company’s investors as Dunzo struggles with ongoing financial difficulties.
Major Cash Flow Issues Plagued the Platform
The Bengaluru-based quick commerce platform has been grappling with cash flow issues and challenges in securing new funding over the past year and a half.
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The intense competition in the sector, fueled by rapid growth from rivals like Blinkit, Instamart, and Zepto, along with the increasing presence of e-commerce giants like Flipkart and Amazon, has only added pressure on the company.
What does the Future Hold for the Entrepreneur
Sources close to the situation suggest that Biswas has shown interest in moving on from Dunzo, though there is no final agreement among the stakeholders. Some investors are reportedly open to the idea, considering the current state of affairs. “Talks have taken place about Kabeer moving on, but a decision has yet to be made,” said one source familiar with the matter.
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Another source revealed that discussions are ongoing about what would happen to Biswas’s stake in the company. However, Reliance Retail, which owns a 25.8% stake in Dunzo, has not yet approved any changes, though discussions continue.
