BENGALURU: A Major Shift at Dunzo

In a significant development, Kabeer Biswas, the founder and CEO of Dunzo, is stepping down from his role. This move comes in the wake of the company's severe financial difficulties, which have led to delayed salary payments for over 18 months. Biswas himself has not received his salary for an extended period.

The Exodus of Co-founders

Earlier, other co-founders Mukund Jha, Dalvir Suri, and Ankur Agarwal had also left the company. Dunzo, which started as a WhatsApp group in 2014, quickly expanded its unique pick-up and drop service nationwide, starting from Bengaluru.

Reliance Retail's Major Investment

In 2022, Reliance Retail led a significant $240-million investment round in Dunzo, becoming the largest shareholder. Despite this, the company's financial woes have continued, leading to the current leadership crisis.