Wow, had many friends who were at one point bullish on them or planning to interview
This is weird - this was a fairly offline business, how can it suddenly crash like this? After raising so much?
They don't innovate nor create new technology that sells....
When I saw the notification I thought it would be 1000 kirana shops are shutting down
I now get why foreign investors are afraid in investing for Indian startups, it's worse than that low level scammers from India, post covid there was number of iitians starting startups where they artificially inflate the stocks with ipo and paid promotiins, but it was a bubble which was supposed to burst, but founders will take their cut and declare bankruptcy, it's just a typical pattern they are following which just affect the employees and people who are investing in their ipo also investor if they didn't take exit on right time.
Anyone from Kirana club who can talk about the business strategy?
Talked to a senior PM of kirana, he said half of talks are almost true, like they are looking for acquisitions, not sure about other talks
@UnsungOats are you referring to Kirana club or 1k kirana. I am more interested in the space so anyone from some other company or maybe be dukaan can she'd some light on what the business model is and what is the final rev model.
Kirana club i know has revenue from 2 major sources:
But anyone in this space and answer this better?
What was the startup about?
They get 36Mn $ for opening a kirana shops linking platform and showing rosy numbers in excel file , but you show prototype of a life curing medical device , a chemical free paint , a productivity increasing machine - sorry , that’s not scalable , we need to think big , make company of the masses bla bla bla … Enjoy the hypocrisy
Even the name is bad
They all did inventory lead models, and failed. The only startup i see becoming a unicorn in the next year or so is - Badho, They're doing everything right and super fast.
They literally said, we won't replace anybody, we'll empower everybody in General trade and most importantly helping all the parties in the process.
I would have invested all my savings in them, if i would have gotten a chance
Gujju and Marwaris will die
Gujju ki baj gayi pujju
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.
Distrust predictions; even economists err. Avoid armchair experts and celebrity founders' opinions.
Enjoy this time. There is a brief moment in history where both the next big startup will be made and the big startup ...
Yes many companies will get bankrupt in the first half of next year. Mostly companies who raised at unrealistic valua...
