Kabeer Biswas Steps Down as CEO of Dunzo After 10 Years According to filings with the Ministry of Corporate Affairs, Biswas and Ankur Agarwal registered a new venture, Nexavise Solutions, in June 2024. However, plans to pursue this new initiative have been shelved.
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Kabeer Biswas, co-founder and CEO of Dunzo, has decided to step down after over a decade of leadership at the hyperlocal delivery company. This marks a significant shift for Dunzo, which has seen other co-founders Mukund Jha, Dalvir Suri, and Ankur Agarwal also exit in recent years.
According to filings with the Ministry of Corporate Affairs, Biswas and Ankur Agarwal registered a new venture, Nexavise Solutions, in June 2024. However, plans to pursue this new initiative have been shelved. Biswas' departure comes amidst mounting financial struggles for Dunzo, including delayed salary payments for over 18 months. Sources indicate that Biswas himself has not drawn a salary for 20 months.
Dunzo's journey, which began as a modest WhatsApp group in 2014, evolved into a significant player in the hyperlocal delivery space. Backed by investors like Google, Reliance, Lightrock, and Blume Ventures, Dunzo raised millions and gained a foothold in quick commerce. However, the rise of competitors such as Zepto, Blinkit, and Swiggy Instamart created a fiercely competitive landscape, exacerbating the company's challenges.
The financial strain on Dunzo became evident as it struggled to clear dues and faced legal notices from vendors. Efforts to secure a buyout from major players like Swiggy and BigBasket did not materialise, further complicating its position. Investors, including Google and Lightrock, have since stepped down from the company's board, signaling broader concerns about its sustainability.
Despite its early promise and innovative model, Dunzo faced hurdles in scaling operations while competing against well-capitalised rivals. The quick commerce industry, marked by aggressive expansion and service diversification, left little room for smaller players to maintain market share.
Biswas' departure signals the end of an era for Dunzo, as the company navigates uncertain waters. While its future remains unclear, Dunzo's story underscores the challenges of sustaining growth in a competitive and capital-intensive market. Biswas leaves behind a legacy of innovation and resilience, marking his decade-long journey with Dunzo as one of ambition and determination.
