Kabeer Biswas, co-founder of Dunzo, has reportedly joined Flipkart and will be leading the e-commerce company’s quick commerce segment, Minutes. Hyperlocal delivery platform Dunzo has been facing operational and financial difficulties for some time now leading to Biswas leaving the company.
Biswas is expected to start working at Flipkart from January 13, in close collaboration with their Senior Vice President, Hemant Badri.
Last year in May, the Walmart-owned firm raised $950 million of which $350 million was invested by Google. Post the fundraising, Flipkart was valued at $36 billion.
Flipkart’s move into the quick commerce business is a timely one as the segment is heated with players like Swiggy Instamart, Zomato-owned Blinkit and Zepto.
The quick commerce market is projected to touch $40 billion by 2030 from $6.1 billion in 2024, according to a Datum Intelligence report.
Reliance Retail led a $240 million funding round for Dunzo in 2022, picking up a 25.8% stake in the Bengaluru-based startup. But as competition grew, the startup fell into trouble and failed to pay employee salaries for more than 18 months eventually laying them off gradually.
Published - January 10, 2025 12:30 pm IST
