Tech
Ecom Express, once valued at Rs 7,000 crore, sold to Delhivery for Rs 1,407 crore in a distress deal
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In a blow to its once-rich valuation, Delhivery is acquiring rival logistics firm Ecom Express in an all-cash deal for Rs 1,407 crore. The Gurugram-based company had been valued at around Rs 7,000 crore less than a year ago.
Here’s a timeline of how the once high-flying startup hit turbulence:
2012: Late T A Krishnan cofounded Ecom Express along with K Satyanarayana, Manju Dhawan, and Sanjeev Saxena—former Blue Dart executives. The company began operations in January 2013 from Gurugram, focusing on ecommerce logistics.
Rapid expansion: Ecom Express…
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