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QuirkyJellybean
QuirkyJellybean
Stealth

90% downround Pharmeasy

Horrific scenes in the Indian startup ecosystem. From being on the verge of an IPO to raising an emergency round which shall lead to the sudden death of employee ESOPs. Crores of wealth destroyed for the employees.

A chain reaction of horror is about to unfold for late stage startups.

20mo ago
Talking product sense with Ridhi
9 min AI interview5 questions
Round 1 by Grapevine
ZestyQuokka
ZestyQuokka
Stealth20mo

Shit weren't they profitable?

QuirkyJellybean
QuirkyJellybean
Stealth20mo

Thryocare's acquisition has got them cursed. Desperate moves as they're unable to repay the loan to Goldman.

ZestyQuokka
ZestyQuokka
Stealth20mo

It was one my accounts for logistics when they were a small warehouse in 2018. Sad to have seen this graph come down

PerkyMarshmallow
PerkyMarshmallow
Razorpay20mo

CTC= fixed pay. That's your main course. Sometimes you get variable pay, that's dessert. Sometimes (more chance of an asteroid hitting Earth) - you can eat for free at the restaurant for ever, that's ESOPs.

JumpyNarwhal
JumpyNarwhal
Stealth20mo

Do feel bad for hardworking employees but only to a limited extent.

All these guys on massive packages funded by VCs genuinely working hard at their jobs - working weekends - burning the midnight oil are not realising most of their businesses dont have a sustainable business models or unit economics?

Everyone's just fooling themselves.

CosmicLlama
CosmicLlama
Freelancer20mo

Poor employees... fooled by yet another org. Nest way to cheat someone is to apeeal to their greed. Emplpyees would have been shown how valuable their esops are. They would have beennpaid less salary and more esops.. all gone..

GigglyRaccoon
GigglyRaccoon
Flipkart20mo

Please enlighten me how it is sudden death for employee ESOPs? I understand it is sudden death for founders, but if in future company grows back to its earlier potential it is not a sudden death for employee ESOPs

SqueakyMuffin
SqueakyMuffin
Zomato20mo

10x dilution due to new issuance of shares (from rs 55 to Rs 5) Doesn't happen for the ESOP pool. Hence employee esops are worth oh so less now.

Or so I've read.

MagicalTaco
MagicalTaco
ITC20mo

Bc. They were offering pre ipo of Pharmeasy on Dezerv. Wonder if people got their money back.

JumpyWalrus
JumpyWalrus
Stealth20mo

They are going to fire employees across verticals on 3rd August

SparklyNarwhal
SparklyNarwhal
NxtWave20mo

From what I heard, founders were good. Good times of 2021 made them take bold decisions

TwirlyWaffle
TwirlyWaffle
PayTM20mo

Thier founders were the most greedy bunch of people I have ever met

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