They think 1 random person watching soft porn in india is worth $100 each lol (1m daily users, reported $100M valuation)

Their app retention is hardly 0.1% on month basis

Founder

It’s is actually significantly higher than this. The DAU might not be that high, but the retention is quite significant in comparison to it

Product Manager

Investor

VCs know that there are too many horny people in this country to make it a success.

Software Engineer

EloElo is also like the chingari softporn app , Why VC's have funded them 22 million ? 🤔

EloElo is also like the chingari softporn app , Why VC's have funded them 22 million ? 🤔- Grapevine

Welcome to Indian Startups's Private Community

Today raised $22m series B.

No revenue. 

Video streaming app with Less than 1m daily users in india is valued over $100m... So every random person in india is worth over $100? Lol.

Competition, Chingari, Rooter, both in trouble. Eloelo has worse engagement than both (I looked on data.ai)

Definitely faking numbers to investors, why else would anyone invest.

Eloelo is probably a scam

I will start. Don't ask me to prove anything.

1. The CEO of MPL bought a ~20cr house in embassy grove, Bangalore just before laying off 50% of the MPL team this week.

2. VC funded Live streaming apps like rooter, eloelo,  are basically frauds. Get tonnes of cheap users by running ads that look like porn, the real engagement is really bad unless they do giveaways. They use VC money to show porn ads and do giveaways, brag about downloads & engagement to raise even more VC money. It's a total ponzi.

Got some secrets off your chest 🧰

Installed it and never opened it. Kind of notifications I'm getting are insane. 

What actually happens inside the app? Can someone tell me more.

Elo elo giving me a pimp vibe

Data scientist

BTW what's the demography of people who use these apps? Asking coz I don't use insta or short content apps😅

According to its LinkedIn page, Chingari has around 240 employees, which means it has laid off around 48 employees. 

Exclusive: Weeks After Cofounder’s Exit, Short-Video App Chingari Lays Off 20% Workforce

Chingari Layoffs after Cofounder Quits

From someone in their tech team, got to know very curious insights. 

CrickPe is built on Solidity smart contracts that automatically enforce performance bonuses for cricketers. 

However, the underlying logic is enforced on an ELO based system with log-normal rewards. Essentially, if a cricketer rewards are:

Reward = Expected(reward) +- log(performance). 

Their ELO is similarly adjusted on a match by match basis. 

Also,
Insider reveal is that, VC community is keen on investing and Ashneer is considering raising funds but has made clear that he is willing to liquidate only till he has majority stake in the venture, although aiming at closer to ~75%.

Also, they are experimenting with NFTs linked to rewards that give you insider access to pre-game locker room access with your favourite teams, flying you out to international matches abroad, etc. This will also be tradeable in-app. They are apparently looking for Blockchain Devs/interns for that.

Finally, the biggest news. They’ve apparently launched a bid to get a fan-experience zone specific to CrickPe in the stadiums during IPL. The plan is to sell these tickets at a higher cost. Fans who watch games from this zone get to play a special variant where the highest scorer is given their reward from the MOTM.

EloElo is also like the chingari softporn app , Why VC's have funded them 22 million ? 🤔

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