Misfits Market CEO Abhi Ramesh thinks we’re in a ‘normalization period’
Christine Hall
16 hours
The instant grocery delivery market has been on a roller-coaster ride over the past few years, and recently the ride has been down.
For example, Dunzo, a hyperlocal delivery startup in India, reportedly postponed employee salaries for a month and plans additional layoffs, with a strategy on “streamlining our cash flow so we can build a more sustainable business for the future,” it wrote to employees in an email.
Then over in Europe, Getir, the delivery giant there, said it was pulling out of Spain, Italy and Portugal as it was finalizing a new round of investment. That announcement came a month after Getir exited France.
Not everything is doom and gloom in this market, though. Misfits Market acquired Imperfect Foods at the end of 2022, and JOKR raised additional funding earlier this year. Meanwhile, Misfits Market is finishing up the integration of the two companies. Granted, Misfits Market had its own brush with layoffs earlier this year, but founder and CEO Abhi Ramesh …
