In a significant development, Dalvir Suri who is one of the four co-founders of the popular delivery platform Dunzo is stepping down from his role, know his net worth and biography
The departure of Dalvir Suri coincides with the company’s decision to undergo a comprehensive restructuring. This move comes amid ongoing efforts to secure funding and streamline operations.
Who is Dalvir Suri Dunzo co-founder, net worth in 2023, biography, education and career
Exciting changes ahead at Dunzo! After over six incredible years, co-founder Dalvir Suri is set to depart. CEO Kabeer Biswas shared this news with the team, highlighting Suri's significant contributions to the company's growth.
A thread 🧵 pic.twitter.com/JGOw9ozPnE
— Arka Datta | Chainrisk (@ArkaDatta02) October 2, 2023
Dunzo co-founder Dalvir Suri is reportedly quitting the online delivery firm.
When Dunzo received $200 million last year, it began expanding its dark stores and even ran ads in the IPL.
But now, Dunzo is retracting from quick commerce to cater to a B2B-heavy portfolio. pic.twitter.com/wABDWSgOmb
— The Ken (@TheKenWeb) October 2, 2023
Dalvir Suri career, family, education
Dalvir Suri who became part of Dunzo in May 2015 was instrumental in driving the company’s expansion. He took charge of Dunzo Merchant Services (DMS), Dunzo’s business-to-business unit. Prior to his tenure at Dunzo, Suri held a prominent position at Cybrilla Technologies as Head of Operations.
His professional background also includes stints at IBM where he served as an application developer and security and privacy consultant. Dalvir Suri holds a Bachelor’s degree in Engineering from Sardar Patel Institute of Technology, Mumbai University. Details about Suri’s family members are not known.
Company restructuring
Dunzo, a Reliance Industries-backed startup is currently in the midst of an organization-wide restructuring process. This strategic move aims to streamline operations and position the company for future growth. While Dalvir Suri’s departure leaves a notable gap, CEO and co-founder Kabeer Biswas expressed confidence in the capable leadership of the DMS business unit, which will continue to drive Dunzo forward.
Over the past few months, Dunzo has faced challenges in securing funding. The company implemented a series of cost-cutting measures, including layoffs, deferred salaries, and reductions in dark store operations. Despite these challenges, Dunzo is in advanced negotiations for a funding round of $25 million to $30 million which will further boost Reliance Retail’s stake in the company.
Dalvir Suri’s departure from Dunzo marks a significant transition for the delivery platform. His contributions to the company’s growth and the success of Dunzo Merchant Services are commendable. As Dunzo navigates a period of restructuring, the company is poised to emerge stronger and more focused on delivering efficient services to its customers. The impending funding round signals a positive outlook for Dunzo’s future endeavors.
Dalvir Suri’s net worth
As per sources; his net worth is not disclosed publicly, but his net worth is approximated to $1-5 million or Rs.8-40 crores. He didn’t hold any equity in Duzo.
Dunzo has four cofounders, and now with the exit of two cofounders only Biswas and Ankur Aggarwal are left in the company and Jha and Suri along with their co-founder Ankur Aggarwal have no ownership in Dunzo. The three of them only drew salaries and had ESOPs (employee stock ownership plans), like several other employees while Dunzo co-founder and CEO Kabeer Biswas owns about 3.6 percent of Dunzo, making him the only co-founder who holds a stake.
Dunzo reported a net loss of Rs 464 crore in FY22 from reporting a net loss of Rs 229.1 crore in FY21. Dunzo lost Rs 230 on each Dunzo Daily order during the first half of 2022 that is from January to June and EBITDA loss in June was Rs 176 crore.
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