Golden investors and bona fide founder certification still couldn’t save this one. The Google India MD, the Amazon India country manager, the FreeCharge CEO, and the founders of CommonFloor, TaxiForSure, and Yo China were all investors in this food startup. Its founder, Shashank Kumar Singhal, was the mobile product head for India’s first bus ticketing site RedBus, who had qualified from the prestigious Indian School of Business. His co-founder Monica Rastogi was equally well qualified. And yet, it had to shut down in October within a year of launching.
The startup began as an internet kitchen with its own chefs and reliable partners serving a few localities in Bangalore. But soon the pressure to scale up made it pivot into an aggregator of restaurants as it focused on the tech at the cusp of food and logistics. This made it dependent, however, on many restaurant partners whose food quality and delivery efficiency were beyond its control. The curation of content it promised at the outset began to take a beating. It changed its name from TapCibo (because many new consumers didn’t get “cibo” is Italian for food), but neither the new name Dazo nor the cool tech it had developed could prevent its slide.
A number of other food startups like TinyOwl and Zomato have run into problems this year, but are trying to ride it out with a longer runway they have in funding.
Source : TechAsia