Spinny lays off 300
Have heard good things generally, sad to see another one having to lay off Wonder when will this end :/
In fy22, spinny ad spends grew 6.8x, revenue grew 4.3x. Thats real sad, not scalable at all. Even on mktg they were making 1 rs for 2 rs spend. Forget other costs.
It is sad, but I don’t know if their business model is viable.
brace for impact or pivot.
ConcurrentThinker
Stealth
a year ago
Looks pretty bad. There's another company in the same field which fell badly. Carvana is what am talking about. Spinny looks to spin till it can milk investors money
Spinny is so good though, friend bought a car and was an easy process and hassle free, they fixed the minor niggles in the car too + warranty. Hope they make it. 👊🏼
DarkerKnight
Stealth
a year ago
This is just a minor correction. Every company does this. It was a strategic call. They have enough runway to avoid any major layoffs.
Yes; it seems it was more of an outcome of business realignment rather than an agenda to save on people cost.
Itachi777
Stealth
a year ago
Which all departments were affected?
Foobar1
Stealth
a year ago
Yes, I bought a car from them last year too. Was a good experience both on their app and at the store. No issues with the car till date. Hope they do well.
Didn't know they were running multiple brands and not sure why they were doing so in the first place.
