Jupiter

Asking for a friend...

I have been in touch from some folks at Jupiter for a product design role. Just wanted to know about the overall culture, wlb and anything that might be interesting to know!

How’s the culture and quality of the Jupiter Money product team ? Who is senior there ?

What is the current state of Jupiter, I have heard a lot of people from higher position resigning. Pms are being fired that just joined recently, from Dunzo and from Swiggy. A lot of people being laid off. Poor or no hike and not even deserving people got the promotion. Their credit cards were seem just a scam. Just burned of the funding in vain. Data leak and privacy is a major issue. I have heard wrong people are given the decision making power here. Will it be worth if someone join Jupiter now for at least next 1 year ? or just a miserable startup that just failed.

Recently gave an interview at Jupiter Money for Senior PM role: 1. There is an exploratory call to judge the fit - experience, skill and culture wise. 2. I was told there will be 3-4 rounds of interview and after that they will decide based on cumulative feedback of all the rounds 3. My first 2 rounds were scheduled - product sense and product strategy rounds. 4. First, The round got scheduled thrice. 5. I finally did my product sense round and to me it was one of the the best case study interview I gave. To the proof I also have complete documentation of the live case study I solved and also showed that to few senior product leaders in the industry. They also validated that that it was really well solved. 6. Next day I was told my round didn’t go as well and they are even cancelling the other rounds. There was no precise feedback which is anyway not expected. I communicated that according to the process I was told that all the rounds would happen and then a decision would be taken. 7. They ridiculed that. To me it was the case of strong personal bias where interviewer preferred other candidates because of his alumni or for other reasons or strongly did not like me. To avoid personal biases usually organisations do parallel rounds at senior level and take a decision based on cumulative feedback. In hindsight, it’s good it didn’t happen. Better to join a merit based organisation then biased and politics led.

Layoffs: • CPO fired! Along with CPO, Directors of Products(Payments, Cards, CS & CX, PFM), & multiple PMs have been fired by Jupiter Money. • Several folks in Engineering fired, risk team folks have been asked to let go as the data leak and privacy is at its toss. SMS mining is being done which fetches every SMS in your phone, permission sneakily taken during onboarding. Funding struggle & burn: • Monthly burn too high on employees & operations. The founder is batting left, right & center to raise funds. Promote one, fire two folks mentality going on to cut costs. Everyone is just giving KTs. Reputation in industry: • Very poor reputation in the industry due to instability in the team & incompetent founder. Data breach leading to bad reputation amongst banks as well. Business models aren't sustainable, cards can't be issued by Federal Bank anymore due to the notice by SEBI. • Co-branded credit cards are the biggest scams running in the industry. These scam fintechs roared just due to the funding cycle of 2019 & 2021. • Hired folks from branded colleges to improve their reputation for fund raise to the VCs & board, most of them are putting papers now.

CPMO is being let go less than 1 year since he joined Jupiter. Is it a sign of broader layoffs at Jupiter or was it for performance issues that he is being fired? Anyone with insider insights here?

Heard Anuj (CPO) is leaving soon, and that they have had multiple exits this year. Is it not doing well? If I'm not wrong they just started working in a very huge office recently.

I am evaluating a couple of opportunities in strategy / growth roles at Fi and Jupiter. Any first hand feedback on these Neobanks will help me shape my decision. Feedback welcome in terms of work culture, money runway, business model, quality of people etc etc

Has anyone used the Jupiter app? how was your experience in it. I'm seeing a lot of ads and people promoting it so was curious if it actually is that good or just spending money on paid ads.