Finance Intern

Quick Commerce Boom Inspires New Startups in India

- Quick commerce success in India has led to new business models in food, fashion, and pharmacy. - Early-stage funds like Accel and India Quotient are investing in these startups. - Rapid food-delivery startup Swish has raised about $2 million from Accel. - Blitz, a network of dark stores, is building capabilities for consumer brands and discussing a follow-on round of Rs 50 crore with IvyCap. - Quick commerce has compelled ecommerce majors and brands to accelerate delivery. Source: [The Arc](https://thearcweb.com/article/quick-commerce-boom-produces-blinkit-of-x-startups-funding-swish-blitz-sgDPGBITxTov8P8v)

Biggest Clown of all time

Gaurav Munjal Anything that comes out of this guys mouth cannot be trusted. I genuinely feel so bad for the the current Unacademy employees, especially the ones who stuck around, this clown gives hope of appraisals and then takes a u turn. As an ex employee, I can tell you the culture is probably the worst I have seen. You’re expected to work till 1 AM on most days, your projects/team change every fortnight, the HR team only listens to your issues but doesn’t do shit for you. You’ll receive a voice note forward from your VP/SVP, where Gaurav is demanding some crazy stupid thing at 2 AM. He has attempted multiple things and has failed miserably - Graphy, GraphyX, Relevel, and idk even how many others. There is a trend, he will put up a message saying we’re gonna to the be the next big thing, will deploy a huge team to work on the product, once product is deployed will say that we’ve found PMF or the product is blitz scaling, and then will quietly start firing people from the team and then shut the product or try to turn it into something else. It’s been 2 years of no appraisals, everyone that I know at the company has left, all the products are degrowing (except for the offline business because they’re burning money in that) Let show you GM math - Revenue = online + offline business Burn = online business And then GM will put out a message saying we’re close to profitability and the business has steady growth and shit. I’ve had one personal review with him during a project, and I can tell you this guy has a ton of insecurities which he portrays onto others by scolding / screaming at them for poor English or for not making enough notes. I think his current plan of increasing revenue is to cut employee salaries/no appraisals/employee benefits. I think it’s high time the startup community stood up to people like him, who look at employees as just slaves.

Flipkart Enters India's 10-Minute Quick Delivery Market

- Walmart-owned Flipkart has launched Flipkart Minutes, a quick commerce service in Bengaluru, offering deliveries within 10 to 15 minutes. - The service includes a wide range of items, from groceries to smartphones, with free delivery on orders over Rs 100 ($1.20). - Quick commerce is rapidly growing in India, with players like Blinkit, Zepto, and Swiggy Instamart expanding into various categories. - Analysts are optimistic about the sector, with Goldman Sachs valuing Blinkit higher than its parent company Zomato's food delivery operations. - Amazon remains focused on same-day delivery for Prime members and is reportedly in talks to acquire a stake in Swiggy. Source: https://techcrunch.com/2024/08/05/flipkart-blitzes-into-india-10-minute-quick-commerce-battle/