5000 crore loss. Wow. Where are they losing all this money

Product Marketing Manager

Loss yes but he is as sacked for doing maza and no kaam. He has only job ladhki ghumana.. ceo ka kam karta to ashneer ko chori nahi karne deta.. ashneer so sabh jage chori ki.. aur Suhail masti.

Investor

Welcome to News Discussion's Private Community

BharatPe has sacked CEO Suhail Sameer amidst a leadership overhaul on the back of a 3X surge in losses to INR 5,000cr in FY22

Exclusive: BharatPe Sacked CEO Suhail Sameer For Non Performance After INR 5K Cr Loss In FY22

BharatPe posts 5000cr loss 😳

Founder

BharatPe posts 5000cr loss 😳- Grapevine

The former Managing Director of BharatPe also revealed that the fintech unicorn’s value has been destroyed by its current Chairman Rajnish Kumar.

‘BharatPe is a $3-bn write-off,’ Ashneer Grover blames Chairman Rajnish Kumar

Bharatpe is a $3B write off

Analyst

Welcome to Office Gossip's Private Community

Their consumer lending app has been pretty much shut for a while and tough competition fused with frequent management diktats seems to indicate that this might be true.

BharatPe laying off people silently

Software Engineer

Welcome to Indian Startups's Private Community

Byjus Financial FY 22 Results will come out next week and internal news is that Byjus have done around USD 1 Billion revenue  and same loss .

One more round of layoffs happening soon with so many VPS being shown the door

Byjus Results -7000-8000+ Crore Revenue and 8500 crore loss

Growth Manager

ET just published a story on BharatPe raising $100M soon (or at least beginning the process to). I’ve heard business is growing well despite exits. How do you feel? 

Do you think the company is going to come good and stabilize as a fintech leader?

BharatPe Fundraise?

Product Owner

https://thearcweb.com/article/byju-raveendran-1-billion-agm-8SWZHKi0REGjA6g4

Byju’s has faced consolidated losses of nearly Rs 8,300 crore ($1 billion) in FY22... Reminds me of "जितने का बबुआ नहीं उतने का झुनझुना"

MPL’s FY23 net loss fall over 80% to INR 87.2 Cr from INR 449.4 Cr in the previous financial year

Product Manager

https://economictimes.indiatimes.com/tech/startups/pharmeasy-plans-rs-2400-crore-rights-issue-at-90-cut-in-share-price/articleshow/101510154.cms

Pharmeasy with a 90% cut in valuation

As per internal company sources: This is big like 500+, lots of folks cut in platform teams, brand teams, marketing teams, business teams, product and tech. Wish everyone there all the best. This shall too pass!

Layoff at BYJUS as mentioned by articles

- Ather Energy, the e-scooter manufacturer, saw its losses increase by 23% to Rs 1,059 crore ($128 million) in FY24, up from Rs 864 crore ($104 million) the previous year. Revenue rose slightly to Rs 1,789.10 crore ($215 million) from Rs 1,783.60 crore ($214 million).
- Hero MotoCorp, Ather's largest shareholder with a 43.94% stake, reported a loss of Rs 380.7 crore ($47 million) attributable to Ather on its balance sheet, compared to Rs 192.5 crore ($23 million) the previous year.
- The competitive landscape in India's electric two-wheeler market has impacted Ather's revenue growth, with players like SoftBank-backed Ola Electric aggressively pursuing sales ahead of its IPO.
- Despite the challenges, Hero remains optimistic about the electric two-wheeler segment, citing improved adoption due to government incentives and cost-effective models.
- In FY24, Hero invested nearly Rs 700 crore ($84 million) to increase its stake in Ather and expanded its charging infrastructure, setting up 2,000 charging points across 200 cities. 

 Source: The Arc

Ather Energy’s Losses Widen to Rs 1,059 Crore in FY24

Journalist

https://www.google.com/amp/s/m.economictimes.com/tech/technology/flipkart-india-logs-9-revenue-growth-at-rs-55823-crore-losses-widen-by-42/amp_articleshow/104644333.cms

Flipkart losses widen by 42% to Rs 4,845.7 crore. Total loss of Flipkart  since inception now amounts to Rs. 12,600 crore. And we are talking about  the flag bearer of India's success story 's performance in 16th year since its inception

Picture speaks a thousand words

1 billion in loss wtf is wrong with Byjus

Airtel deleted their reply after this :D

Senior software engineer

I know this might be a one off, but even if they are close to profitable/break even quarters, this can become a strong business

Big if true, given Meesho’s scale

ShareChat’s 62% increase in revenue for FY23, at Rs 540 crore. However, its losses widened 38% to Rs 4,064 crore

Sharechat 3rd layoff

https://www.cnbctv18.com/startup/bharatpe-turns-profitable-5-years-after-being-founded-ashneer-grover-rapped-by-delhi-high-court-18420851.htm?amp

Seems like $180Mn annualised revenue. Valued at 16.1x of revenue for the last round. Hmm.

Welcome to Fintech India's Private Community

BharatPe saw 77 percent surge in merchant onboarding in February 2024 compared to the previous month, and its website traffic for onboarding inquiries rose by over 47 percent during the same period

BharatPe sees 77% surge in business amidst Paytm's payments bank troubles

BharatPe sees 77% surge in merchant onboarding business amidst Paytm's payments bank troubles

Software Developer

I work at this company since 2+ years, day before yesterday company received an email from one of the two payment gateways that they use for catering Indian and International users for both payments as well as payouts. Now since the gateway that was catering the international users banned the company's account, all of the international transactions went to 0 quickly which was more than 90% of the total revenue, additionally they fined the company for $425,000

Now the problem for the company is:
1. The transactions completely stopped
2. A large sum of money in the account as balance is on hold by the payment gateway accounting to approximately, 1/5th of fine.
3. The fine which the payment gateway is charging, doesn't have any underlying reason as why the fine amount is so big.
4 There's absolutely no reply from the payment gateway on the email hence no way to contact directly.

Now, the thing is company knew this day was possible but they had took preventive measures as well and weren't expecting this to happen anytime soon and atleast with a prior notice unlike which landed like a bomb with a brief (text only) email.

So there are features called radar and chargeback protection in the payment gateway which take some percentage of your transaction to ensure if there are some fraudulent/illegal transactions they will flag those transactions and prevent the customers (our company in this case) from getting disputes from the card owner/payee, having which of no use to the company. As per the terms, a threshold percentage of your transactions need to be disputed in order to be flagged as suspicious for the payment gateway which was way less in the company's case.

Although company too could have prevented this from just banning users whose payments were getting disputed by the card holders claiming they didn't authorise the purchase or either the user didn't deliver for what the payment was done by the payee. In either of the case banning that user was the ideal action.

BharatPe posts 5000cr loss 😳

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