Dunzo has delayed their employee’s salaries multiple times over the past year. It has posted a loss of Rs 1,800 crore in FY23, a 288 per cent increase from the previous year.
Dunzo has been struggling to finalise crucial funding amid a cash crunch, as a valuation mismatch among stakeholders has become a point of contention between investors, ET reported on August 22.
Data shows the number of private equity (PE) firms holding stakes in Indian IT services companies has doubled between 2019 and 2022 as investors eye safe bets, and such companies have demonstrated a tried-and-tested business model and profitability. This and more in todays ETtech Morning Dispatch.