Start-ups go for drastic cost cuts as fund raising gets tougher.
At online grocery start-up Grofer’s aggregation centre in Gurgaon, Co-founder Albinder Dhindsa shows an orange-coloured delivery bag, one that his delivery boys once carried on their backs, zipping across more than 20 cities in bikes to deliver everything from lemons to detergent powder. From the time the orders were placed by customers, they had two hours to deliver. That’s the nature of the hyper-local, on-demand business Grofers played in. But the bag would hold only two crates. As volumes shot up in many cities, the company employed more and more bikers. One delivery boy couldn't do more than nine orders a day; the size of the bag limited the volume they could execute.
Realisation struck Dhindsa early in 2016. The on demand model would work but at a huge scale. However, investors no longer had the appetite for the amount of capital it could require — in people, aggregation centres, and other parts of the supply-chain. Although Grofers had raised $120 million in November 2015, the funding climate was getting chillier. The online grocery sector, itself, was in a crisis; Grofers closed down operations in nine cities in January last year as scale remained elusive even after a marketing blitz.
この記事は Business Today の January 29, 2017 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Business Today の January 29, 2017 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Haute Couture in the Kitchen
FASHION BRANDS ARE ENTERING THE RESTAURANT SPACE, AS FOOD SEEMS TO HAVE BECOME THE ULTIMATE FASHION STATEMENT
It's Personal
Mixing work and personal tasks on work machines may be a done thing for many, but it makes sense to have a dedicated device for your personal needs. Here are two such devices
INTO THE BLUE
For WTiCabs Founder and CEO Ashok Vashist, scuba diving is not just an adventure sport. It is a pathway to connect with the ocean
"Challenges are opportunities"
AMIT JAIN CO-FOUNDER & CEO CARDEKHO GROUP CarDekho Group is a digital automotive solutions provider
THE WAIT FOR HIGHER PENSION
ALMOST 18 MONTHS AFTER THE SUPREME COURT RULING, SUBSCRIBERS WHO OPTED FOR A HIGHER PENSION UNDER THE EMPLOYEES' PENSION SCHEME CONTINUE TO WAIT AS THE EPFO, FACING A STAFF CRUNCH, TRIES TO FIGURE OUT THE MATH
"It's possible to have a 25% growth out of India from now on"
Rail Europe Executive Chairman & CEO Björn Bender talks about the India market, the shift to digital, and the way ahead
Evolving Strategies
Companies need to adapt to changing times for a strong workforce
PERKS PRESSURE
IT'S NOT JUST ABOUT THE MONEY ANYMORE FOR EMPLOYEES. FROM FOUR-DAY WORK WEEKS, TO SKILLING ON THE JOB AND MENTAL WELL-BEING EXERCISES, COMPANIES ARE OFFERING A HOST OF BENEFITS TO RETAIN TOP TALENT. IS THIS ENOUGH?
FOSTERING PLURALISM
Axis Bank, with its initiatives and policies, is striving to make a holistic difference to people's careers and hone their skills too
In Keeping With The Times
With a slew of initiatives for its employees, Abbott India is working hard to build a diverse and inclusive workforce