The hyperlocal grocery delivery app, Peppertap has shutdown in some of the major cities including Mumbai, Kolkata, Chennai along with Ahmedabad, Jaipur and Chandigarh.
Peppertap which recently raised $40mn (led by Snapdeal) and acquired Jiffstore is also laying off 400 people (mostly delivery employees).
Recently, Grofers too shutdown in 9 cities citing ‘lack of market readiness’.
Post this ‘restructuring’, Peppertap will be operational in Delhi-NCR, Hyderabad, Pune & Bangalore.
PepperTap Financials
PepperTap, owned by Nuvo Logistics (which also runs Nuvo Ex, the logistics arm) reported a total revenue of INR 19.5 crores in FY 14-15 with a net profit of INR 87 lacs (see Peppertap financial data).
Also see: BigBasket Financial Data.
