After Raising $40mn, PepperTap Shuts Down Grocery Business; Goes Back To Logistics
April 23, 2016 2016-04-23 8:45After Raising $40mn, PepperTap Shuts Down Grocery Business; Goes Back To Logistics
PepperTap which raised $40mn in Series B last year (from Snapdeal, Sequoia, SAIF and others) has shutdown its grocery business.
We earlier reported the company was shutting down the business in Mumbai, Chennai and even laid off 400 employees in Feb, 2016.
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). The revenue largely comes from its logistics arm and the company (after experimenting with grocery) is going back to its roots.
PepperTap : Badly Executed Grocery Business?
With only 3.6 rating in the app store, a quick look at PepperTap review suggests several issues – ranging not just from technology backend but delivery as well.
Who is next?
Comments (2)
Kamal
True that but looks like they are more after showcasing other similar articles for page views.
Those who really want to locate comments section will do in order to comment.
Raxit
Your comment section should be immediately after post and then all other related post.