Explained: Why is Blinkit shutting down some dark stores?
0
0
A quick trade delivery company Blinkit is learned to have obtained 50 of its dark stores across the country, which has led to hundreds of its workforce, including logs of dark stores, gatherers and births as a result of their Jobs. This comes as the company is looking for measures to reduce its combustion rate in the midst of a cash crisis.
Why is Blinkit facing a cash crunch?
Sources told the Indian Express that Blinkit also delayed payments to suppliers for at least two months. Two Dark store managers from Blinkit Dark confirmed that the company’s payments were delayed by 10 additional days and stated that he also ordered stores to start maintaining a larger radius of 6-7 km. , from the previous 2-3 km.
“At present, there does not seem to be a sustainable business model for fast business companies. Until they start charging users, delivery charges or introduce a kind of member subscription plan, it is unlikely that they manage to improve the finances of operations. This could be a potential reason for why the investers hesitant to pump into an additional capital in society at this time, “said a high-level venture capital executive, requesting anonymity.
Is the company raising capital?
In an internal note to the employees of last week, Blinkit Co-founder Albinder Dhindsa said the company had closed fundraising of $ 100 million. Sources said that Blinkit raised Zomato’s debt debt capital and could collect $ 300 million from the food company for technology this year. Zomato had already invested $ 100 million in the company for a 10% stake last August after which Blinkit Groperfers had a special attention over 10 minutes. At the time, Blinkit had said that he closed his shops that were not ready to deliver orders within 10 minutes. Queries sent to Blinkit and Dhindsa have not aroused an answer at the time of publication.
How is the q-commerce space shaped in India?
The biggest Swiggy of the Zomato competitor has its own grocery delivery services in the form of Instamart, which is available as an integrated service on its native application. In addition, many other companies entered the Q business segment, including ZEpto, Bigbasket Bigbasket of Mumbai, Bigbasket, Halke-Harning-Halning Company Ola and Reliance Industries – Dunzo.
A quick trade delivery company Blinkit is learned to have obtained 50 of its dark stores across the country, which has led to hundreds of its workforce, including logs of dark stores, gatherers and births as a result of their Jobs. This comes as the company is looking for measures to reduce its combustion rate…