Co-founder Ansh Agarwal attributed the decision to the result of limited working capital and failure to implement their go-to-market (GTM) in an efficient manner
Emphasising that bootstrapping the business with limited capital made it extremely difficult for them to participate in the market, Ansh Agarwal, the Co-founder of Blip, a quick fashion delivery startup, has stated that they have decided to shut down the company.
In a LinkedIn post, Agarwal wrote that the result of limited working capital and failure to implement their go-to-market (GTM) in an efficient manner, it did not make sense for the company to continue. This has come when the rapid commerce ecosystem, especially in the fashion space, has seen the entry of large e-retailers and backing from venture capital firms.
“After building for over a year, we have finally called it a day. While we continue to believe in this space, bootstrapping the business with limited capital made it extremely difficult for us to participate in the market,” he wrote in his post.
Blip adopted a model different from the rest with a lot of first-in-market implementations. The Co-founder noted that this took share bit of time to convince stakeholders, which indeed affected their GTM strategies and slowed things considerably down.
“Personally, I continue to believe in this space and understand the need for verticalisation of quick commerce in general; sadly, it will not be us. I am extremely proud of what we did at blip. Being first in the market and changing the narratives with the resources we had kept me awake at night, but it was all worth it,” he emphasised.
The industry has been riding on the quick delivery wave. As value-conscious millennials and status-seeking Gen Z have become comfortable buying through organised retail and digital channels, the brands have cashed in on the opportunity to be ahead in the race. With Libas, an ultra-fast fashion brand, collaborating with Zepto to strengthen its digital-first strategy, being one such move in this direction, others have also ventured into the ultra-fast delivery mode.
