StupidCop88
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 ;)
14mo ago
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Curated from across
https://entrackr.com/2023/09/rario-burns-through-120-mn-in-15-months-future-looks-uncertain/
Tell me no corruption was involved in this ;)
Burnt through 60-70 crores per month (average) with 70 employees. Put the best combustion engines to shame.
Does anyone know about that other company in this space Fancraze. Same story?
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.
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 :/
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.
Ola founder said that they used to have 100 Cr bill for Google maps. Does this sound realistic?
What are other options apart from Google maps?
Look you need to have few database server farm decentralised for major countries,, and those will handle millions of searches every second plus you need to build an entire company and software systems to serve customers with potential fe...
I will start. Don't ask me to prove anything.
The CEO of MPL bought a ~20cr house in embassy grove, Bangalore just before laying off 50% of the MPL team this week.
VC funded Live streaming apps like rooter, eloelo, are basically...
A relative of mine lost INR 20 Lakhs in RummyCircle. He is above 50 years old and lives in a village.
Hi! Does anyone here knows anything about the work environment/culture at rigi? I was previously working at an early stage startup and the environment there was extremely toxic. I don't want to go through the same thing. So if anyone who...