Tech
Qcomm’s dark store pullback; VCs flock to GIFT City
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Happy Monday! Amid rising cash burn, quick commerce firms are pausing expansion of their dark store network. This and more in today’s ETtech Morning Dispatch.
Also in the letter:
■ Fintechs slash ad budgets
■ IT firms tighten costs
■ Big Tech ramps up India hiring
Quick commerce companies slow dark stores buildout to control cash burn
India’s quick commerce players are hitting the brakes on dark store expansion, choosing to rein in cash burn after an aggressive year of growth. Industry executives say companies are now renegotiating…
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