Flipkart seeking to purchase Reliance-backed Dunzo, TechCrunch studies

By

Reuters

Printed


Feb 21, 2024

Walmart-backed Indian e-commerce agency Flipkart has held discussions over probably buying the on-demand supply platform Dunzo, TechCrunch reported on Tuesday, citing three individuals aware of the matter.

Flipkart seeking to purchase Reliance-backed Dunzo, TechCrunch studies

Whereas talks are nonetheless ongoing, complexities surrounding Dunzo’s possession construction have impeded the 2 events from coming to an understanding over a deal, the report stated.

The retail arm of Reliance Industries, which picked up a 26% stake in Dunzo in 2022 for $200 million, has not accredited the deal but, the report added.

Dunzo, in an emailed response to Reuters, denied having “any dialog with any participant for an acquisition of the enterprise”.

Flipkart and Walmart didn’t instantly reply to Reuters’ requests for remark.

Money-strapped Dunzo, which can also be backed by Alphabet’s Google, has introduced restructuring, deferment of salaries and layoffs within the current previous.

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