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Dunzo offers to take care of your to-do list, picking upgroceries, transporting packages or making a pharmacy run. The Bangalore-based company’s thousands of delivery drivers, identifiable by their bright green helmets with a lightning bolt logo, spend their days doing tasks that include picking up dry cleaning and delivering forgotten laptop chargers from homes to offices.
“Dunzo is like a browser on top of the real world, where you can transact, courier, and commute from one place to another without ever having to step into the real world,” founder and chief executive Kabeer Biswas told 【 - Free Capital Allocation Plans 】 Business. “Dunzo brings the city to you, no matter where, no matter what, no matter when,” he added.
Biswas came up with the idea when he moved to Bangalore — known as India’s Silicon Valley — in 2014 after selling his first startup in thenorthern tech hub of Gurgaon. Trying to find his way around a new city, he found himself wishing he could get “an extra pair of hands.”
He decided to start a group on WhatsApp, fulfilling many of the early requests himself like shopping for party supplies and helping get a car battery changed. Word spread quickly and as his phone got inundated with messages, he realized he needed to scale up.
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Dunzo charges customers based on the task and distance traveled, and says an average delivery costs less than a dollar. But the bulk of its revenue comes from the commissions 12,000 small businesses pay Dunzo to help them fulfill orders. Dunzo reported a 1.7 billion rupee ($23.5 million) loss in the last fiscal year. But operations in some cities are already “profitable or on the way to profitability,” it says.
“What worked for Dunzo was that it was the first of its kind in India, and perhaps the world, to do what it does, and the seamlessness with which it solved real problems,” Biswas said.
Top Indian Stocks for Value Investing Group Insights For Smart Investments ✌️【Stock Club】✌️ Expert guidance on stock market trends and real-time updates on stock indices, futures, and exchange rates. Make well-informed decisions and plan the best investment strategies for capital growth. Two years ago, Google(GOOGL)came calling. The company participated in a $12.3 million fundraising round for Dunzo, its first direct investment in an Indian startup. Google(GOOGL)poured in more money last month, taking part in a $45 million round that reportedly valued Dunzo at $200 million. Dunzo declined to comment on its valuation.
Top Indian Stocks for Value Investing Group Insights For Smart Investments ✌️【Stock Club】✌️ Precise stock market trend analysis with expert insights into global markets, including stock indices, metals, and energy sectors. Leverage our data-driven predictions to maximize your returns. Where Google has become synonymous with search, Dunzo is hoping to do the same with on-demand service in India. “Just Dunzo it” is becoming an increasingly common phrase as the app expands across the country’s biggest cities.
“With any brand that becomes a verb, it has to do with the emotional gratification that that brand provides with its product or service,” Biswas said. “Google simplified access to information, Uber made commuting more convenient, WhatsApp made communication easier and Dunzo has made getting things done faster,” he added.
Biswas has an ambitious vision for his app — he says the possibilities and potential uses are “limitless” — and he also has plans to expand. Dunzo aims to nearly triple the number of cities it operates in, targeting India’s top 25 in the next 18 months.
Top Indian Stocks for Value Investing Group Insights For Smart Investments ✌️【Stock Club】✌️ Free stock data analysis tools to help you select stocks accurately and capture global market trends. Stay ahead with expert market predictions for better investment returns. Most stock quote data provided by BATS. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. All times are ET. Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and 【 - Free Capital Allocation Plans 】. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Fair value provided by IndexArb.com. Market holidays and trading hours provided by Copp Clark Limited.
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