Problem is why not pull the plug sooner.Delaying inevitable is really painful for everyone involved.

Exactly I can't fathom how people would have felt all of it coming down suddenly.

Software Engineer

It's hard to determine when to pull the plug tbh. As an entrepreneur who's honestly trying to make it work, your mindset is to never even think about shutting down. Only figure out how to make it work.

Product Owner

Founder

I remember one of the founders who had quit posting about OCEN and ONDC. Also, they're  hiring for new venture. Any insider info?

Welcome to Indian Startups's Private Community

I remember one of the founders who had quit posting about OCEN and ONDC. Also, they're  hiring for new venture.
Any insider info?

Did Zestmoney founders pull the plug to fund new startup?

Did Zestmoney founders pull the plug to fund new startup?- Grapevine

Anyone has any inside scoop on what’s going on at Zest Money? Why did the founders resign en-mass?

Zest Money?

Move comes two months after a deal to be acquired by PhonePe fell through

Zest Money's Lizzie Chapman, other co-founders resign after PhonePe deal fails

ZestMoney Co-Founders Resign

Real Estate

For a company that is out raising millions the CFO and CGO both exited around the same time these fund raise came in. 

Hear from a few sources that old timers are unhappy with the founders promoting some non experienced folks at the helm of things. Any insider gossips pls?

Whats up at Zepto?

Growth Manager

Context: https://twitter.com/chandrarsrikant/status/1641314393161109508?t=Ducvzk_DPblMmkLORjLT1A&s=19
Without runway, what happens to the current Zest employees?

Zest <> Phone Pe acquisition fell through. What happens to current Zest employees?

Welcome to News Discussion's Private Community

The timing of Zeptos fundraise is significant given the slump in investments into growth- and late-stage startups on the one hand and the correction being witnessed in the quick commerce segment on the other.

Unicorn drought ends as Zepto raises $200 million at $1.4 billion valuation

Zepto becomes India's 1st 2023 unicorn

Everything kept aside, it’s genuinely awe-inspiring that they’ve been able to do this in a market with close to zero interest in consumer internet plays, and most models failing  
  
 There’s definitely something about the way they executed. And many good things are said within the ecosystem about Aadit as a founder!

Analyst

There’s now a list of 4-6 startups that have shut down and announced closure in December. Why is this happening

Why are so many startups shutting shop in December?

Business Development Manager

One of the founding members is M.I.A. for the last 2 months and there is absolutely 0 communication on this from the founders side. So much for transparency. So many people have already left and everyone who is currently working is also talking about leaving soon. Is this the end of FamPay.

Is one of the founding members of FamPay laid off recently?

VC here. Doing this for fun.
Don't take all views seriously.

Comment a startup's name, I'll share if it's promising or whatever I know

In final stages of  PM role interview. Info would really help.
Needed info on cashfree in terms of the following -
1. Financially, funding crunch ( heard some layoffs are coming in tech and product).
2. Product culture
3. Product vision, quality, (heard that they just mimic what Razorpay does)

Fire away folks.

How is Cashfree doing ?

Product Manager

50% layoff at a Bangalore  based health tech startup. Founder had no shame or guilt. Has raised funding recently but chose to fire people again. This is the third layoff in the last 1.5 years. Terrible management, declined variable pay. Severance is to paid in the next 4 months. Just trying to pivot the company into ‘AI’ without any plan whatsoever.

Massive Layoffs at HealthTech Startup

HealthifyMe is the Startup. They are having other PR articles to cover this shit now

This came out of nowhere. Poor investments? Executive troubles? Both?

Honestly the investing team lacked grit and commitment towards a founder or an investment. In late 2019 they finalised terms with us while an international investor was leading the round, they pulled out last minute because some random fuck company raised 2X the amount of our round from tier 1 vc. Now that company doesn’t exist anymore but I guess neither the fund…me too can never be an investment strategy but sadly this is pretty much how Indian vcs think. We’re still alive and growing 😁

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- Severe cash crunch 
- The remaining 50% of salary is expected to be paid on 15th July
- Reliance not willing to invest more funds
- Talks ongoing with PhonePe and Paytm for acquisition (Dunzo would support their ONDC backend delivery logistics)

Things not looking good for Dunzo - 50% Salary paid to Managers and above this month

Okay, unrelated but I have heard reliance invests to destroy.
Most of reliance new age investments, major stakes are under extreme cash loss

Consultant

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

Lets collate a list. I will start with a few guesses.
1. Bounce
2. Zepto
3. Sharechat
4. Dealshare

please add - lets collate a list and analyse again in 18 months.

What all large startups will shut down (fold) over the next 18 months?

Where did you work and how much money did you make?

Asking as it looks like a lot of promise of ESOPs and wealth creation has failed employees in this bloodbath slow growth, layoffs, and job changes.

"ESOPs made me rich af"

I have had ESOPS in 2 companies 
#1 - company got acquired ..I got 45 Lacs IN ESOP ...thats 1.5X of my last annualized salary  ( so additional salary for 18 months) 
#2 - Company became unicorn ... I quit and company bought my ESOPs . Got 2 Cr
That is 3X of my annualized salary

Company 1 - I had joined at very early stage ; Company 2 - I joined at mid-stage

UX/UI Designer

Post phonepe declined to acquire Zest, following ate the scenarios at Zest : 

1. 33% employees laid off
2. 33% employees were hired at Phonepe
3. 33% employees have jobs at Zest but they are thinking Zest to be a sinking ship so might move away.

ZestMoney layoff scenario

How is the work culture at Zepto in terms of WLB etc? Also any chance of layoffs or is it doing good compared to instamart and blinkit?

Work culture at Zepto

In last 6-8 months there has been lot of layoffs and many startup getting scrutinised due to funding etc..

But I can’t see Oyo name anywhere… Not much layoffs or nothing on their crunch.

Are they doing good or successful?

How is OYO doing ?

I saw this post on grapevine like 1 month ago and was surprised to see a leading VC caught in a scam.  

Saw Twitter today and many journalists say this VC fund has shut now. Anyone knows about what happened at Omidyar

A platform for honest Salary and Career Discussions - Join 50K+ members from top tech companies and startups on Grapevine

Earlier Roopa Kudva (Omidyar Managing Partner) was being investigated by ED for suspicious trades. I noticed she’s stepped down as Omidyar Network chief. Anyone knows what’s the scene? - Grapevine

Did Zestmoney founders pull the plug to fund new startup?

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1 month old post on Grapevine about Omidyar Networks; Now looks like the VC fund has now shut down