5th case against fraud company Classplus

It’s hard time for the community with these kind of asshole founders enjoying limelight with articles and media sitting quiet on this. They have fired almost everyone with their crooked and cruel strategy. Lame founders who micro manage and build strategies to fire people. They have a layer of puppets under them and make the whole plan to fire the employees- bhai itna mehnat kyu karte ho yaar, seedha muh pe bol do. They’re burning investor money and despite being productive laying these foundations for firing. Layoff everyone then, those puppets desite taking tons of bad decisions are being protected just because they lick their ass and pound them to be rockstars. They’ve hired hot girls under them for timepass and so called secret parties. Complete BS. I’m still surprised itna karne ke bad they are being celebrated what a country we live in.

Silent Layoffs in Classplus At its peak Classplus employed about 800 employees which is now down to about 300 but you'd never see this in news because they have been strategically laying off employees on high salaries one by one. Just today 4 people have been asked to leave (that I know of). They very smartly either shift people to textbook and then ask them to leave from there or directly ask them to leave. There's no PIP. The founders are busy with setting up a new college, for some reason. Most of Classplus core business is just flat, people are asked to just maintain the business. It is losing big clients to competition. I don't know what the outlook of the company looks like but it's not looking good.

Classplus is falling apart. The CTO, CBO and VP-Business have resigned from the company amidst rumours around financial irregularities. Classplus now joins a long list of Indian startups caught amidst fraud/financial irregularities allegations. Classplus was last valued $600Mn in their last funding round and counts Tiger Global, Falcon Edge, Peak XV (formerly Sequoia India) as their investors.

I have worked over 10 years never felt this pathetic at a freelance job which I did The founder girl used to ping 24 hrs saying stuff like it's been 1 month u are not able to complete a whole portal as of it takes only this much time building an entire portal Was paid same as what I earned on 2014 Lost my sleep because of this bullshit Assumed I will work on Christmas because I took leaves for my brothers wedding To everyone out their no one is worth your peace of mind no amount of money

I have evaluated a lot of startups as part of my work. My approach has changed from being optimistic to being suspicious of a lot of founders, even before the process starts. The sheer number of founders that I come across that try to game metrics/play around with data to make the startup look good. Most commonly: 1) Completely changing the definition of margins, repeat rates, etc. and never clarifying that they are using different definition. 2) Often giving rebates/discounts to key stakeholders but finding ways to hide it from their P&L so that it’s not visible. THIS IS SO COMMON - lot’s of them start showing revenues, and then you will see another cost item rising at the same pace, and lot’s of times it will just be money moving around 3) Sometimes completely giving the wrong picture of how their product works on ground. You then speak with their customers, and they describe something completely else. Things like these are eating up the ecosystem. These founders also end up fooling some VCs, and then capital get’s kept away from actually good founders who have good intentions. There was a recent major investment in the commerce space, and that is another one such example of a startup doing this. Needs to stop.

Edtech startup Classplus unveils second Esop buyback, over 150 employees eligible

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