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.
PhonePe was interested in acquiring the merchant network and quickly tapped into it for Pincode. It has been spending on customer acquisitions and discounts on the separate platform to acquire more users.
While tech biggies including Microsoft, Google, and Meta are leading the charge on AI, more localised contingents are emerging across geographies, including in India and the European Union.