MAM
Zomato’s Deepinder Goyal joins magicpin board
MUMBAI: IPO-bound Zomato’s co-founder and CEO Deepinder Goyal has joined the board of magicpin, as an independent director. Founded by Anshoo Sharma & Brij Bhushan, and backed by Lightspeed Venture Partners, Waterbridge and Samsung, magicpin is a savings app that connects hyperlocal merchants and brands- both online and offline, with consumers.
Goyal joins the existing board and advisors that consist of Lightspeed Venture Partners MD Bejul Somaia, boAt Lifestyle CEO Vivek Gambhir, and Waterbridge MD Manish Kheterpal. Since launching in 2016, the homegrown app today has over 1.5 lakh merchants on the platform, serving 50 lakh consumers across fifty cities. It has also launched the OrderHere platform that enables local merchants to set up their online store within minutes, and serve online customers. magicpin simplifies catalog creation and management for local merchants/brands and offers integrated payments and logistics from logistics providers in India including Shadowfax, Dunzo, Rapido and Loadshare.
Speaking on joining the board, Deepinder Goyal said, “I am delighted to join the magicpin board. They are a high-quality team and I am excited about how they are being a driver of growth for local merchants across categories. I am looking forward to contributing to the company’s success.”
magicpin co-founder and CEO Anshoo Sharma said, “We are excited about Deepinder joining our board. He brings a wealth of experience from scaling up Zomato into the tech giant it is today. We are looking forward to his guidance and mentorship as we step into our next phase of growth.”
As lockdown measures ease across the country, magicpin is poised to scale up merchants and brands on its platform for online and in-store demand. It is already driving over $ one billion in annual revenues for its existing partners and continues to grow at a rapid pace, the company stated.
Brands
Jubilant Foodworks to end Dunkin’ franchise in India
Pizza chain operator will not renew agreement when it expires at end of 2026.
MUMBAI: When the doughnuts stop turning and the coffee goes cold, even a global giant like Dunkin’ can find the Indian market a tough brew to crack. Jubilant Foodworks has decided not to renew its franchise agreement with Dunkin’ when the pact expires on 31 December 2026, according to a Reuters report. The operator, best known for running Domino’s outlets in India, said it would evaluate options for its existing Dunkin’ stores, including a potential sale or transfer of franchise rights, in consultation with the US-based brand.
The decision follows years of underperformance in a market where local tastes and intense competition have made it difficult for international coffee-and-doughnut formats to gain traction. Jubilant, which has increasingly focused on its core pizza business and newer bets like Popeyes, indicated that the exit would not materially affect its financial or operational position.
Dunkin’ accounted for just 0.61 per cent of Jubilant’s revenue in the fiscal year ending 2025 and recorded a loss of approximately Rs 191 million, according to a regulatory filing. The company operated 27 outlets as of December 2025, having shuttered seven stores over the preceding year.
The retreat comes even as Jubilant’s broader business shows signs of momentum. The company reported a 65 per cent rise in quarterly profit for the October to December period, reaching Rs 70.9 crore, up from Rs 42.91 crore a year earlier.
For Jubilant, the exit reflects a sharpening strategic focus. For Dunkin’, it marks another setback in a market that has proven resistant to imported café concepts without significant localisation.
In the cut-throat world of Indian quick-service restaurants, sometimes the sweetest deals are the ones you quietly walk away from leaving more room for the brands that truly rise to the occasion.
