Isha Ambani’s Reliance Retail and Google backed Dunzo delays salaries again, said that…

Isha Ambani’s Reliance Retail and Google backed Dunzo have been in the middle of a liquidity problem for quite a long time now. The startup has been delaying salary of many former employees for quite a long time now and as per a latest report by YourStory, the company now claims that the ending final settlements would be disbursed by March 30. The report claims that Isha Ambani’s Reliance Retail and Google backed company sent a letter to former employees in which it acknowledged the fact that it has not kept up with commitments of the payment timeline in the past.

“... We completely understand that dues have not been settled in the ideal time, and this delay must have been exhausting for you emotionally and financially. We sincerely regret this inconvenience and beg your pardon. It was never our intent to delay, and we have always kept all team members at Dunzo as the highest priority,” it said in the email seen by YourStory.

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. The company has also been hit by the departure of several top-level executives, including co-founders and its finance head. 

Founded by Kabeer Biswas, Ankur Agarwal, Dalvir Suri and Mukund Jha in 2014, the startup raised several rounds of funding and got interest from giants like Google and Lightbox. Isha Ambani’s Reliance Retail bought around 25% stake in Dunzo in January last year by investing almost Rs 1641 crore.