Hardly you find any startups where three founders have been fired by the investors. To all current and ex employees of Dealshare. Why do you think all the founders

Hardly you find any startups where three founders have been fired by the investors. To all current and ex employees of Dealshare. Why do you think all the founders of the unicorn Dealshare were fired?  Was it because of some fraud or was it just performance based or was it because of dramatic change in direction by investors.

Dealshare founders

Dealshare founders- Grapevine

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Operations Manager

Dealshare shuts its B2B business, laying off 130 employees

Corporate strategy

Does anybody know what’s the deal with dealshare at the moment? how’s their operations doing? Heard about some fraud as well?

What’s happening with Dealshare?

Founder

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Dealshare funds have been blocked from use. Something major off.

Headcount decreased from 145 to 80 with the target of bringing it to 50. Ceo is a dumbo with no clear understanding of product and future. They launched a new product called Verk which was an AI agent that could do tasks of all kind for you but in background they hired cheap labour to do those tasks manually. Total sham. They aggressively hired across verticals for it and when the bubble burst and investors whopped asses of Ceo and cto (who is a co-founder but just follows master’s orders) by asking them not to use funds raised for a different product to fund this new sham product, they fired people within 2-3 days. Extraordinary performers were let go of just because of office politics and bootlicking by non performing old timers. Btw some founding members also resigned citing future difficulties since this is the 7th pivot they are taking. Founder ensures no firings will happen and then fires folks the next day. Sham company. Beware before joining!

65% staff laid off at Contlo/SuperAgi

Product Manager

Welcome to Office Gossip's Private Community

Just found out that Dealshare isn’t doing great

Product Owner

IIT grad here building a venture backed startup. I think 99% of folks here believe that venture backed founders are super entitled and in a much "cosier" position than employees

Just sharing a few facts about our journey so far if it helps anyone improve their perspectives-

1) Paying ourselves 33% of our campus salary & 60% of what we are paying to our employees (Talking about Pure Base Salary here, not including ESOPs)

2) Insane stress - You basically have to raise money to build (esp if its deeptech because of the high fixed costs) and there are predefined metrics you have to always chase, sometimes just beyond yourselves. 

Your product will be copied if it's good because well, they always have more money than you. You work 7 days a week for insane hours, chasing metrics required to be "afloat" 

3) 99% of venture backed startups result in 0 liquidity gain for founders. So basically in all likeliness, everything is for a net negative return compared to if we took the campus job

So, when you wholeheartedly bash founders as if they are sitting On a goldmine while you are toiling for THEIR gold Treasure, just understand that more likely than not, there is not really any gold but rather an irrational hope they are clinging to

Also, Yes-we pay above market to our employees (100% hike for the last one) but the truth is some startups just Can't afford it. And ironically, there is a much higher looking down on these startups with meagurely paid founders rather than giants like Tech Mahindra paying peanuts to their employees while having a 1000% salary hike for the executives. 

Yeah, most startups need to do better but please appreciate if someone is atleast trying to do better because trust me, it's INSANELY HARD.. 

The number of posts I see about Flipkart making hundreds millionaires is way too less than the ones I see about pinpointing at every single mistake early stage startups do & I just wanted to express my opinion on it

Peace!

People way overestimate the life of founders

A company called loop health started allowing remote work and hiring in early 2022 soon after receiving $25 million dollars investment. 
Founders are a great pair in the initial but as soon after investment of series A , difference broke out and one of the co-founders left the company in the name of sabbatical from backdoor out. He was visionary and had great product sense which the CEO got jealous of and stopped him at all the cost of investors recognising him. Anyway now the real unhealthy thing is not this story but due to this product the scope got messed up and customers started complaining and renewals badly hit to 60-80%. The competitor got them easily , one of the sales people said on call at a loop that loop company customers are easy to catch for competitors.
Now the real story is, the CEO wanted only the Pune office to survive and all remote employees to leave so he did a little magic ✨. Instead of laying off people, strategically not compensating anyone started layoff from the beginning of the 2023 this year by asking each outsider to resign and leave. The strategy was simple, 
Find weakness and make them accept simple mistakes as well and ask them to resign. At the same time, hire contractors at Pune to join and work. If any employee is strong or doesn't want to leave then make them contract employees and expect work in the same way.
This is not at all acceptable and the CEO is not alone on this. CEO, CTO , CPO involved plan. 
The problem with this approach is unfair practices, if someone makes a mistake they won't give any PIP plan. They just fire them in easy  ways to resign. CEO proudly says he wants great tennis 🎾 team but infact ceo is just a ball boy.

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