Question: With reference to Dunzo, consider the following statements :-

  1. The CEO of Dunzo is Kabir Biswas.
  2. Reliance Retail acquires 25.8% stake in quick commerce firm Dunzo.
    Which of the above statements is/are correct?
    (a) 1 only
    (b) 2 only
    (c) 1 and 2
    (d) neither 1 nor 2
    Answer—(c)
    Related facts—
  • Reliance Retail will enter the burgeoning quick commerce space with an investment of more than 190 million dollar in Dunzo.
  • Reliance Retail will own 25.8% stake in the quick commerce company.
  • It led a $240 million funding round in Dunzo, with participation from existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital.
  • The capital will be used to further Dunzo's vision to be the largest quick commerce business in the country while also expanding its B2B business, Reliance Retail said in a statement on January 2022.
  • It is noteable that Dunzo is backed by Google, Blume Ventures, Aspada Investments, Lightrock, LightBox Ventures, STIC Ventures, Alteria and 3L Capital. Dunzo and Reliance Retail will also enter into certain business partnerships.
  • It will enable hyper-local logistics for the retail stores operated by Reliance Retail, further adding onto Reliance Retail's omni-channel capabilities. Dunzo will also facilitate last mile deliveries for JioMart's merchant network.

By - Pankaj Pandey

Link:
https://www.newindianexpress.com/business/2022/jan/07/reliance-retail-picks-258-per-cent-stake-in-dunzo-2404089.html