Image Credits: The Week
Image Credits: TechCircle
The co-founder of SoftBank-backed online grocer Grofers Saurabh Kumar is departing the company, amid Grofers talks with Zomato, one of India’s largest food delivery for an investment. His leave from the company comes at a time when Zomato has been reportedly intending to procure Grofers, or at least take a minority stake by investing $100 million and then acquiring it over time.
Albinder Dhindsa, a co-founder and the chief executive of the company tweeted regarding this and said in the tweet “I’ve known @skgrofers for 14 years and I’ve spent the last 8 years building
@grofers with him. Today, SK is moving on to other challenges and I wish him the very best. It has been an honor and a delight,”
I've known @skgrofers for 14 years and I've spent the last 8 years building @grofers with him. Today, SK is moving on to other challenges and I wish him the very best. It has been an honour and a delight.
A farewell: https://t.co/z2mUVNu4p5
— Albinder Dhindsa (@albinder) June 18, 2021
Saurabh Kumar stated his divergence from the company to the employees at Grofers through an email, mentioned credible sources. He would not be actively involved in the activities of the company but still wished to remain a shareholder and board member.
The company Grofers was founded by Dhindsa and Saurabh Kumar in 2014. Many companies similar to Grofers such as PepperTap and LocalBanya closed shop after the funding frenzy of 2015. This was when investors and founders apprehended that so many opponents cannot compete in the same sector.
At present, Grofers and Tata-owned BigBasket are the biggest players in the industry.