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Eloelo is probably a scam

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.

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BiryaniEnthu

Stealth

a year ago

Can they just fake numbers? Don't investors check before?
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incognito

Stealth

a year ago

Simple. ignore all the bad user data, only show the good data. Definition of "new signups" will be someone who has used the app for 1h+ They will say new sign ups all engage a lot. Will be true because they ignored data of everyone who left after 1h. VCs do not check this.
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potatomato

Fintech Startup

a year ago

Forbes 30u30 founders: *hold my boba*
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Baingan

Student

a year ago

bhai data.ai ka subscription hai kya? can share? but good insights I was also wondering about the fund raise
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incognito

Stealth

a year ago

Sorry I also use my friends account 😭
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Y

Meesho

a year ago

Data.ai doesn’t have accurate data for most of the startups
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LooseGoose

Stealth

a year ago

I was also surprised to see the news. Haven't even heard of it except maybe once. Concept might have sounded interesting few years ago but definitely not right now in this market. Sounds like a scam to me.
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JoblessAss

Jobless

a year ago

How is Loco, Rooter which almost in similar space but into gaming ?
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user_129

Stealth

a year ago

Early days for this space I guess. Eloelo, Loco, Rooter are all doing public livestreams around games and chatting which is a new space. Of the 3, Eloelo looks interesting n different from a PM pov. But good to see consumer tech startups raise capital.
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incognito

Stealth

a year ago

We don't need another fraud in consumer tech, it's not helping anything. It's like saying gomechanic funding was a good thing for their industry. tbh don't care about the product, the numbers speak for themselves.
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Cafeinatedpragmatist

Stealth

a year ago

"New form of entertainment", "livestreaming". Everyone knows what this is.
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Internetexplorer

Swiggy

a year ago

So many of these apps literally survive on soft porn, I wonder how long do they think this strategy would be successful? And even more surprised at investors, it literally takes one to sign up and open the app to see what's up 🤔
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Bakwasmaal

Stealth

a year ago

Like Indian version of twitch?
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BangaloreBuff

Stealth

a year ago

I will agree on this. Know someone internally in Product and said the numbers have been sugar coated.
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BangaloreBuff

Stealth

a year ago

The Founder himself has a dubious past. Not someone you can trust even Rs.100 with, let alone ₹180 crores+
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Fluxtuation

Ola Electric

a year ago

Like what?
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incognito

Stealth

a year ago

The founder announced the series B on LinkedIn like "this is the best day of my life" At least thank your team first asshole
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WickedGrease

Apple

a year ago

Yes it is a fake company and will die like others it's a fraudulent
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New_Leadership

Vedantu

a year ago

Most of the reviews look fake. Mostly driven by fake users, fake reviews, fake engagement it seems. Founders would make quick buck and disappear
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Superinvestor

Student

a year ago

Engagement is a problem and EloElo woulf always have problem in mometisation - discovery for ecom products at scale for T2 is hard to archieve with good margins
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Qwerty2398

Stealth

a year ago

yup.. chitfund business of the HNI... too bad, they cant even cry publicly... Am so happy.. They can be screwed. They can afford it.
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UndrSun

Others

a year ago

Works if there is live sex rooms
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