Food delivery startup Thrive to shut down operations amid intense competition

Quick Summary:

The company, which is backed by Coca Cola and Jubilant FoodWorks, has decided to shut down the operations of its consumer app and transition its ONDC and marketing suite segments to industry partners.

The companies managed to tide over the pandemic with strategic acquisitions and by changing business models.

It reported a marginal rise in FY23 revenue at Rs 2.5 crore, compared to Rs 2.3 crore in the previous year.

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Article Details

Author / Journalist: Sai Keerthi

Category: StartupsEconomyBusiness

Markets: India

Topics: Partners Food Crore Operations Shut Company Consumer Privacy Policy Startup Thrive

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-14 @ 06:03:27 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 329 words

Reading Time: 2 minutes read

Sentences: 19 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © YourStory

News ID: 24405402

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About YourStory

Main Topics: StartupsEconomyBusiness

Official Website: yourstory.com

Update Frequency: 7 posts per day

Year Established: 2008

Headquarters: India

News Last Updated: 12 hours ago

Coverage Areas: India

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