Pepperfry,startup has engaged Ambit to identify potential buyers as the company grapples with stagnating sales and persistent financial losses,

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The startup, operating from 12 years, is exploring options for a strategic acquisition or finding a buyer if the terms are favorable.

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The move comes as the company’s revenue growth has no change and losses have remained steady over the past four years

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Pepperfry’s financial losses are worse by the failed attempt at an initial public offering (IPO).

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The co-founder and former CEO Ambareesh Murty died in August 2023 who was seen as a pivotal force behind the company’s growth.

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Pepperfry’s revenue grew from Rs 207 crore in FY19 to Rs 290 crore by the end of FY23, reflecting a compound annual growth rate of nearly 10 percent over four years.

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This modest growth has been insufficient for venture capitalists, especially given the company’s ongoing losses of around Rs 180-190 crore annually.

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The startup is yet to file its FY24 results, which will provide the latest update on its financial performance.

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Despite its last valuation of approximately $330 million, Pepperfry sought a valuation of around $200-220 million in recent discussions with potential buyers

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