Indian Startups Community

by Karilyn Carmden

Stealth

a year ago

120 million USD gone in 15 months

https://entrackr.com/2023/09/rario-burns-through-120-mn-in-15-months-future-looks-uncertain/ Tell me no corruption was involved in this ;)

Kendall Carmden

Startup

a year ago

Burnt through 60-70 crores per month (average) with 70 employees. Put the best combustion engines to shame.

Karilyn Lee

Stealth

a year ago

VC ko pakdo isme

Dezi Hyrum

X.com

a year ago

Probably hired fresh college grads as PMs and paid shit to to crypto bro influencers. Still can't believe they burnt 120mil. But what more can you expect from a NFT startup. Nft was a scam from day 1.

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Kendall Lee

Founder

a year ago

Does anyone know about that other company in this space Fancraze. Same story?

Karilyn Dean

Dunzo

a year ago

I’ve a same question about Striker. Rario was also involved in a court case with them.

Aaron Lee

Founder

a year ago

With Striker or Fancraze? I hear that Fancraze founders was running parallel companies and kept his other company investors in the dark

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Blair Lee

Stealth

a year ago

Alpha wave - the recent additions (last 3 yrs) portfolio companies are doing really bad. They did bring some new management and some exclusive useless consultant who has been giving the wrong guidance to these companies. It’s of course the founders mistake to not see the reality or have logical business sense, but, from the time this new management/consultants have come onboard post alpha’s rebrand from FalconEdge, the portfolio companies have been seeing a steady drop.

Kendall Carmden

Venture Capital

a year ago

Not completely sure how deep their team in India is It feels a bit like Tiger, they've invested in models that have a track record of going awry Not sure how it works :/

Jordon Olive

Stealth

a year ago

How is burning 8 M a month possible in India for a company of this size ? Were they delivering coffee to desks using drones ?

Kendall Lee

Stealth

a year ago

Bro why the hate towards zepto 🤣

Matilda Dean

Arkim

a year ago

Industry insider here. The $120 Mn, majority from dream11 was not liquid money invested in the company. It was structured as bulk of it would be used to buy NFT rights in future. Some 10% of it was liquid cash invested in the company. Don't think it bought any NFT rights this year. So they would not have burnt more than 10-15 Mn.