One simply cannot be a cautionary tale in startups and vulture captial without the backing of Se-ko-ya

Growth Manager

https://www.moneycontrol.com/news/business/inside-dehaat-auditor-concerns-governance-lapses-and-fast-depleting-funds-10649141.html

Crisis in Dehaat

Crisis in Dehaat- Grapevine

Welcome to Product Managers's Private Community

1. How is the work culture, learning and growth opportunities?
2. If you have worked/are working in Dehaat then what’s the average hike that one can expect?
3. If you used to work at Dehaat then why did you leave it?

How is DeHaat as a company for Product Management roles?

Product Manager

Welcome to Indian Startups's Private Community

Imploding after investors turned off the taps a year so ago.. investors spoilt the ecosystem chasing growth with weak business models.. disintermediation doesn’t always work.. neither does setting up models that impose costs and ignore risks …
the chickens come home to roost..

Agritech startups .. train wreck in slowmo …

Heard from folks that Dehaat (an agritech startup) has recently done layoffs in the tech department. Does anyone here have any idea what happened and why?

Layoff at Dehaat?

Do you guys agree with the list? Anymore candidates

Dead 11

Project manager

Welcome to News Discussion's Private Community

ReshaMandi, a startup that raised over $40 Mn in equity funding, is facing insolvency pleas and has allegedly coerced employees to join another company, Genzr Solutions Private Limited, leaving hundreds of former employees awaiting salary dues.

- ReshaMandi's downfall was attributed to rapid expansion across various verticals, revenue inflation, and financial mismanagement, including inflated revenue, fake vendors, and loan defaults.

- ReshaMandi's founders and management personnel have joined Genzr, a seemingly unrelated company, raising questions about the acquisition and the funding received from an unrelated source.

- The failure of ReshaMandi has raised concerns about VCs investing without adequate due diligence and the accountability of investors and founders for the company's financial situation and treatment of employees.

Source: Inc42 - https://inc42.com/features/inside-the-upheaval-at-reshamandi-a-questionable-2nd-innings-after-a-40-mn-collapse/

Corporate Governance Trouble at Reshamandi 🧵

Journalist

Welcome to Confessions's Private Community

I was into a founder’s office. Working closely with the leadership team of a funded Agri-tech startup (Which shall strictly remain anon in this post)

Does it happen to others the same way as it did to me?

I was one of the first FOs in the org and I was trying to figure what is up with this startup.

About 21 days in to company, I was helping a co-founder with a report that has to go out to investors.

I open up the metrics dashboard to enter numbers when he said “he knew the figures by heart”, so we began entering metrics like GMV and others. These were 5x of my range.

I said we should just double check ? He said there are factors in the formula that I have not considered at all and I finish the report as per the numbers he gave me.

Confused, I later dared to ask the lead PM how are we computing GMV. And told him about my dilemma to tell the founder we need to just double check his calculations.
Bless my naiveté.

He had a nervous smile and told me we report numbers that keep the startup exciting and afloat. We will catch up very soon with them.

The next morning, the founder also took me for a meeting and explained how doing this is important for everyone in the company to succeed.

I was very scared but lived in an autopilot of nervousness for 6 months. Part-took in it while being scared of going to prison myself.

I felt a terrible dread in my stomach in every interaction with with the admin and CA teams since in my first interaction I came across what I sensed to be a big fake bill. Was I blind to miss everyone in the office get a new chair the last month?

I never asked doubts on the money numbers the CA team gave me. But had reasons to doubt it basis other business data I had access to.

Everyone seemed to be on the same kind of auto pilot, good people who had never done anything wrong before this as far as I knew. Everyone considered leaving the culture and toxicity every week. 

The day I left, I had the email of the investors of the company since I’d emailed them countless decks and reports. I really wanted to drop an anonymous email revealing what I knew to them but I was afraid of the following repercussions to my career and I let the matter go.

Reporting fake GMV and more

Investment Associate

What’s the chatter regarding Indian startup’s in agritech? Dehaat, Waycool, Ninjakart etc.. hear they’re hunkering down but are likely to survive the next couple of years at least…

Crisis in Dehaat

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