img

Another startup bites the dust. Sequoia backed Bijnis is dead.

Info Edge Writes Off Entire Investment In Sequoia-Backed Bijnis https://inc42.com/buzz/breaking-info-edge-writes-off-entire-investment-in-sequoia-tiger-backed-bijnis/

img

Eternal1

Stealth

a year ago

This is not true for now, it is a ‘technical’ write-off https://twitter.com/katrishabh/status/1662080700907159552?s=46&t=Gfxvl_H8bzH-pFa2iCFXhw
img

GoodMafia

Stealth

a year ago

Wrong news, its a technical write-off because of some Indian Accounting standards Infoedge has to follow.
img

CaptainPlanet

Stealth

a year ago

Why would someone write off in their books without it actually being a write off? Nonsense explanation by Infoedge and you seem to be dumb to fall for it
img

GoodMafia

Stealth

a year ago

Considering there was a buy back clause and that was building a liability in books of Infoedge books and they had to reinstate there last 3 years financials which they thought impossible to do so , why would Infoedge give clarity if they would have actually written off, why would Sanjeev say on the analyst call that it is a techincal write off and will be written back in 2 quarter? Think my friend, just masala of media mai maat kho jao.
Sign in to a Grapevine account for the full experience.

Discover More

Curated from across

img

Indian Startups on

by WittyFeed

Venture Capital

B2B network Anar shuts down

They were backed by Elevation and Accel, had raised ~$7mn Seems like getting transactions to happen was too tough, despite building a network. Getting money out of Indian SMBs, a consistently tough model. Link to post: https://www.linkedin.com/pulse/so-long-anar-farewell-reflection-nishank-jain-oifxf?utm_source=share&utm_medium=member_ios&utm_campaign=share_via

img
img

Memes on

by President_Trump

Stealth

Is it the founders or VCs who have money without mind ?

Why do people like Dukaan's founders receive funding so easily? Don't we have brilliant minds or promising startups in India, or is it the fault of short-sighted VCs who have money but lack vision?

img
img

Layoffs on

by StartupBaba

Stealth

Sequoia VC Layoffs

After Unicorns now it's VCs 😁 Any idea whether this happened in India as well for their new entity ? https://www.forbes.com/sites/kenrickcai/2023/07/24/sequoia-talent-team-layoffs-firm-restructuring/?sh=5d3a78d925f4

img

News Discussion on

by NewsAnchor

Grapevine

Invesco Marks Down Valuations Of IPO-Bound Swiggy, Pine Labs

- Invesco valued its 28,844 shares of Swiggy at $219.2 Mn as of April 2024, translating to a $12.3 Bn valuation for the foodtech company. - Pine Labs' valuation was pegged at $3.5 Bn at the end of April 2024, down from $3.8 Bn in January 2024. - The valuation cuts come as Swiggy prepares for its $1.25 Bn IPO, having filed its draft red herring prospectus with SEBI. - Despite the cuts, Swiggy's latest valuation is still 15% higher than its $10.7 Bn valuation during its $700 Mn decacorn round in 2022. - The valuation adjustments follow a period of funding challenges and losses for Indian unicorns, though investor sentiment has recently improved. Source: Inc42

img
img

Indian Startups on

by FrillyDaylight

Netcore

Which startup from recent times failed most spectacularly?

img

News Discussion on

by randomjocke

Porter

What’s happening with byjus?

First the audit report got delayed. Now they’ve reported a loss of over 4.5k cr. And I believe they’re like a mothership of edtech, if they gone down then the entire category goes down from an investment perspective

img

Indian Startups on

by Jghfdsyipouhgxd

Stealth

Elizabeth Holmes (Theranos) is in jail in the US for frauds she committed. Why aren't any Indian founder in jail for cheating investors and employees? How are Indian founders able to get away with shit? Its sets a very bad example

Indian founders should pay the price for frauds. Ashneer Grover driving his Ferrari bought from stolen money and becoming a hero on television has set up a very bad example for the youth.

img

Indian Startups on

by Jghfdsyipouhgxd

Stealth

Reason given by investors on Mojocare sounds very fishy. At one end they are blaming the founder for embezzlement while on other end they are blaming market conditions and unsustainable business model for the layoff of employees. Doglapan?

img
img

Layoffs on

by chainfire

Stealth

1K Kirana lays off 60% employees

Just heard that 1K, an omnichannel grocery startup in gurgaon series B funded by info edge and alpha wave have laid off close to 60% employees and severance package is also not announced yet.

img

Indian Startups on

by LightMile44

MongoDB

Another one bites the dust...

Just last week he was giving gyan on why BYJUs failed. Welcome BYJUs 2.0..

img