Grofers winds up operations in 9 cities

The company will no longer serve in the following cities: Coimbatore, Visakhapatnam, Kochi, Ludhiana, Mysuru, Bhopal, Rajkot, Nashik and Bhubaneswar.
Grofers

Hyperlocal grocery startup Grofers has finally decided to shut down its operations in nine cities of the country. The company will no longer serve in the following cities: Coimbatore, Visakhapatnam, Kochi, Ludhiana, Mysuru, Bhopal, Rajkot, Nashik and Bhubaneswar.
A couple of months back, the company halted its operations in some parts of Delhi NCR due to some operational hiccups and employees in Noida stopped working following layoff speculations.
Even company’s CTO, Varun Khurana has resigned from his post barely a month after the firm secured a massive $120 million funding.
The company saw a massive three-fold jump in its valuation with $115 million in July 2015 compared to that of $33 million in February 2015.
The latest round of funding also saw participation from Apoletto Asia, the personal investment vehicle of DST Global's partners, including Russian billionaire Yuri Milner, and its existing backers. The startup is currently valued at about $400 million (Rs 2657.2 crore).
Many retailers and eRetailer have claimed 2015 as ‘the year of eCommerce’ but despite the huge turnarounds and achievements, the industry has also seen a spate of failures. No doubt, companies like Paytm, Flipkart and Snapdeal ran high on their expansion spree and talent acquisition, there has also been some noteworthy resignations and operational shutdowns.

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