Monday, March 27, 2017

Delivery startup Genie to shut down

Chennai based hyper local delivery startup Genie said it will shut down its operation due to lack of investors interest. The company said in a facebook post that "Genie will be delivering its last delight on March 31."

Also read: Last minute hotel booking startup RoomsTonite shuts down

Genie founded by Sreekesh Krishnan, Rakesh Mani, Parth Shah in 2015 said, We've been trying very hard to raise a round of funding to sustain operations and for growth. Over time, we courted a lot of investors who made a lot of promises, but none of them materialised. Even though everyone liked the business and loved the team, they were skeptical because of a few big shutdowns in the sector.

Chennai-based Genie started off as an on-demand delivery platform for consumers. The founders also launched Genie for Business to look after on demand, bulk and scheduled orders for restaurants, home bakers and any other business that needs assistance with deliveries.



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