Reliance Retail writes off $200M investment in Dunzo amid financial struggles

Reliance Retail has reportedly written off its $200 million investment in Dunzo, citing the latter’s financial struggles. Dunzo, an on-demand delivery service, has been facing challenges in scaling its operations and managing profitability, leading to the write-off. Reliance's decision highlights the difficulties faced by hyperlocal startups in maintaining long-term viability amidst intense competition and high operational costs. The write-off represents a setback for Dunzo, but it may prompt the company to re-evaluate its business model and strategic direction.