Had read some stuff here 
 Tried to verify through people around me, stuff sounded off, but not this off 
  
 They’re quite big and this is most definitely damaging

I have never ever seen a single dealshare customer just like meesho.  
 They are big because they make VC believe their fraud revenues and take their money

Product Manager

For Meesho - probably because you're not in their TG and not around someone in their TG 
Similarly for anyone Tier 3/4 focused like CityMall etc.

Investment Associate

This is true. Investors have frozen most of the money. They don’t have a business model.

Software Engineer

Somebody knows what’s happening actually? 
 It seems they are pivoting to offline and maybe that’s why budget is limited?

Had asked a question a few weeks ago about how it was doing. I’d heard similar stories. Now it’s out. No business model and ring fenced funds. What happens to the unicorn now?

Founder

There is some pattern with tiger global  
 They recently exited flipkart and now blocking funds for another investment 
  
 Not sure if they are connected or completely unrelated things

Director of Engineering

Worked with few guys in Bangalore who were x dealshare. The top mgmt including founders are majorly into kickback n other frauds. Over paying for real estate and keeping margin. Selling stuff outside claiming damaged n expired. Are few common practices which start from top. 
  
 Can others from dealshare validate this.

Operations Manager

I’ve my ex direct reporting TLs working there, all are asked to find a job by 14th.

Hey can anyone working there please confirm this, I have joined there recently as SDE-1.

Sales Manager

Have worked with their founders and seen their business as well from a very close angle. No real moat or value proposition, it never even existed actually. They only relied on heavy resellers and frauds (rampant everywhere in the supply chain). 
  
 Ceo used to look down on other businesses and behave as if they are building the next Amazon, lol

Brand Marketing Manager

The most shocking thing about this is I don’t even know what they do or how they even became so big

Intern

Welcome to News Discussion's Private Community

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

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

Welcome to Indian Startups's Private Community

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?

Dealshare shuts its B2B business, laying off 130 employees

Corporate Strategist

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

Welcome to Office Gossip's Private Community

Just found out that Dealshare isn’t doing great

Product Owner

Latest scam in the indus valley

Software Developer

Welcome to Product Managers's Private Community

Heard on Twitter that social media app ShareChat is going BUST.

- At ~$42m revenue, it's valued at 120x rev
- ~95m DAU in rural India
- Founders cashed out $10m in secondaries. 

Is this true?

Crisis in ShareChat?

Database Administrator

rumours are circulating that they are struggling big time

How bad are things at Dealshare?

- Tally, a nine-year-old fintech, has shut down after running out of cash, according to a LinkedIn post by founder and CEO Jason Brown.
- The company, which helped consumers manage and pay off credit card debt, was unable to secure the necessary funding to continue operations.
- Tally was last valued at $855 million and had 183 employees, according to PitchBook.
- In April, Tally announced it would be sunsetting its consumer app and shifting to a B2B model, but never followed up with details on its launch partner.
- Founded in 2015, Tally raised $172 million in funding, with notable investors including Andreessen Horowitz, Kleiner Perkins, and Sway Ventures. 

 Source: [Techcrunch](https://techcrunch.com/2024/08/12/a16z-backed-fintech-tally-which-raised-172m-in-funding-is-shutting-down-after-running-out-of-cash/)

A16z-backed fintech Tally shuts down after running out of cash

Journalist

Why are they still able to raise debt💀

Sharechat

So many mini frauds and the company let it slide to show numbers. What were they thinking?  🤷🏼
https://themorningcontext.com/internet/dealshare-is-an-operational-mess

Dealshare mess

VC Analyst

First, they had a layoff.
Lot of good people quit including great people
Then, they had a second lay off 
Some  great people in the leadership quit.
Middle management people are quitting every day.
Only engineers and other people who are not able to get jobs are remaining 
They shut down majority of US acquisitions
They are trying to sell some of them like Tynkr and Epic
Not able to raise funding till now even though trying since December 
Sales is down 90% 
New Inside Sales process is not working 
They are out of runway.

Byjus may shut down

Growth Manager

- WazirX, one of India's largest cryptocurrency exchanges, has temporarily suspended all trading activities after losing about $230 million in a security breach.
- The cyber attack compromised WazirX's ability to maintain a 1:1 collateral ratio with assets, raising concerns about the adequacy of its reserves.
- Customer withdrawals were suspended after an attacker accessed one of the exchange's multi-signature wallets, which was protected by six signatories.
- WazirX announced a bounty program of up to $23 million to recover the stolen assets, with risk-management platform Elliptic linking the attacker to North Korea.
- The breach is significant, as WazirX reported holdings of about $500 million in its June proof-of-reserves disclosure, calling the event a 'force majeure.' 

 Source: Techcrunch, Moneycontrol

WazirX Halts Trading After $230 Million 'Force Majeure' Loss

Welcome to Software Engineers's Private Community

As everyone knows that zomato is now hiring 800 employees after two months of a mass layoff, and exit of senior profiles like VP and CTO.

Let me tell you the truth about the founder. He is an opportunist. He doesn't give a shit about the culture or any employee. The company is built on the death of many riders and cheating with low-wage workers.

Timing- Isn't it a bit weird that a company that did a mass layoff two months back is now hiring? Seeing that many employees got laid off from the top-tier company. It is a great time to employ smart folks as the hiring competition in the market is at its lowest. Or the mass layoff that happened previously was planned with the thought of hiring again next year with very little competition and desperate candidates. 

Layoff: In zomato, it's hire and fire culture. I have seen many of my friends leave even after performing well. Honestly, sometimes I don't even feel human. It's expected from employees to start their day early and go late at night. If you want to leave early (around 6 or 7), you should have a solid reason for doing that. Here code release happens late at night due to less traffic. So it's expected of you to be available all the time.

Incompetent Managers- I have worked with two managers here. Both know the existing system as they were once an IC building that system. The issue with these people is that they grew up the ladder because they were the only ones left behind in the team. They lack real-world system knowledge. I have previously worked at amazon, and I know the team lead level there. But here it's like jo ruk gaya vo raja hai. It's hard to work with these people as they lack proper estimations of the projects and at the end of the day. The ICs have to face the wrath of the product teams.

People who are planning to join the company. Please do join, as working 24/7 you would learn a lot in a very short period of time. Also, the culture is team dependent, so you might get a team with chill environment.

Reality check at Zomato

I think this is CoinSwitch Kuber and WazirX, but I could be wrong. But to be safe, if you have money there, you should leave.
If anybody has figured a good way to do this process, can you please share as well?

Folks, please get off of Indian crypto exchanges - hearing there’s about to be a fund seize

Anyone who lives in a TE property or has evaluated them? 

Why are they priced so high? Is the experience worth it?

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

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