Founders are the ones who have made the foundation of the company more strong so that it can be capable of overcoming the challenges across the market.
The exit of any founder not only questions the company’s functionality but also places the position at stake.
Delhivery; the start-up recently witnessed the exit of its two founders. To know the reasons and the road ahead; let’s understand the scenario.
INSIGHTS ABOUT DELHIVERY
The company was incepted in 2011 and has been one of the nation’s leading supply chain services company. They tried and managed to be the major operating system of the electronic commerce in the country. Their major focus is to give a class infrastructure, logistic operations and highest quality technology capabilities.
850 million orders
300 million households
24 sort centres
More than 85 fulfillment centers
More than 3000 delivery centers
More than 7500 partner centers
More than 15000 vehicles
More than 40000 team members
A million packages; 24 hours
The company has set up a geographical span up to 2300 cities having 60000 sellers reaching 10000 customers and delivering 1.5 Lakh products per day. Recently; in the year 2020 launched a facility of 3 mega trucking terminals across the Delhi, Mumbai and Bengaluru. The focus is on making the small world more accessible. The prominent services provide are :
- Shipping services
- Special services
- Technology Services
Their primary partners are Constellation, Last-mile agent, Drop at store and franchisee for extending the transportation network. Their centers & partners play a crucial role in the success of firm.
DETAILS ABOUT EXIT
The Bengaluru based start-up was ready to bring its IPO; but then two of its founders just stepped down.
Bhavesh Manglani & Mohit Tandon have been clearly classified as retiring and non-active promoters. Mangalni is an IIM Calcutta alumnus while Tandon is an IIT Kanpur alumnus.
The sources claim that the exit has a relation with the lock-in period. They both made a proposal to exit initially this year and the same got accepted. It is expected to sell shares in the expected offer to be launched in 2021.
The two founders have shown interest in starting & pursuing their own interests. The founders now are Kapil Bharati, Sahil Barua and Suraj Saharan. The company is supposed to come up with a huge IPO of around $ 3 billion.
The country has witnessed the electronic commerce go from zero to billions. The backbone of companies in this category has been the entire set-up of logistics & supply chain mechanism that straight way works on its toes to give right product at right time within the specified range.
Delhivery is a 10 year old venture; exiting such firm just before it is about to knock the doors of market is definitely not very appealing. However the founders now hold a strict 10% share and are ready to capture through their innovative abilities. The company is ready to serve the challenge with efficient mediums across the globe.
But; may be the scenario is ready for a much more big market performance signalling a more strong & firm position in the competitive market space to ensure profitability & security across the domains.