Manthan – Logistics – Delhivery vs ShadowFax – This Goliath seems invincible!
Published on 19 Jan 2026
The 3PL B2C market had gone through an upheaval in the last 12-18 months. Rising insourcing by one of the top marketplaces, Meesho, curtailed 3PL volumes and increased competition. To give you some perspective, insourcing ratio of Meesho has increased from 1.8% in FY23 to 64.5% in 1HFY26.
In such a competitive environment, one of the prominent 3PL B2C player, ShadowFax, is expected to debut on Dalal Street soon. Hence, we thought of drawing parallels with the Goliath (Delhivery) of 3PL market. Will David (ShadowFax) be able to overcome Goliath like it happened in the classic biblical story? Read on to find out more as we draw comparisons on various aspects like scale, margins, network reach etc.
