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MobiKwik pulls back on retail biz; layoffs and Chennai office closed

MobiKwik has shut down two of its offices in India, laid off several employees, and scaled back its retail business, sources have told MediaNama. A current employee said that upto 200 employees and contractors have been asked to leave in all. MediaNama was unable to verify this number from other sources, and MobiKwik’s founders have not responded to multiple requests for comment. According to sources, MobiKwik's Chennai office, which housed 5-10 employees, according to one person familiar with the matter, was shut down. This was likely a satellite office, like its other offices in Pune, Mumbai, Hyderabad, Kolkata and Mumbai, where the employee strength is not very high. MobiKwik is headquartered in Gurgaon where most of its staff works out of. MediaNama has reviewed a document which states that MobiKwik will not expand its business in particular verticals (sources say…

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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