Indian Startups21mo
by ZoomyMuffinFounder
Top comment
Desh mei berozgaari hai , and ye chutiye logo ko tabla bajana seekha re the, band to hona hi tha
Layoffs
on
CosmicUnicorn
Founders couldn't Figure Out fund raise
This influencer with a massive following on YouTube laid me & my team off within a week of hiring since apparently they have deferred their Series A. Bro, why didn't you figure it out before I joined. They bumped off Sourcing, D2C sales head, Finance, Offline Sales head, etc as well. Apparently - they still have the HR head drawing the salary of probably more than 50L pa since they need to build 'culture' for a team size of less than 25 ppl now.
Business model: D2C business launching products in partnership with Influencer to leverage their following
17mo ago
Talking product sense with Ridhi
9 min AI interview5 questions
SwirlyTaco
Stealth17mo
Bro there's Sham in the name. What else did you expect.
CosmicUnicorn
Stealth17mo
Lol..
Also the co-founder is from Trell. Plus had a start up focused on Cryptocoins during the hey days..
Jokes aside, they may be honest & can become big, it's just that my + few others' experience was shit. I even had to follow up a few times for my pay post lay-offs. Hope they learn something from this, become matured & 'figure out'
SwirlyTaco
Stealth17mo
Look at the bright side, its just a week of your life gone.
And what a life lesson in return!
SquishyQuokka
Gojek17mo
"Figuring Out with" fellow couldn't figure out basic decency. Don't you do the hiring post-Series A and not before that. 🤔
CosmicUnicorn
Stealth17mo
Bro had told me that they have sufficient bank balance. Series A term sheet is on the verge of closing etc. I know founders paint optimistic picture always, but this sounds like way too much now. They could have just deferred the hiring by a couple of months if things were so uncertain.
SquishyQuokka
Gojek17mo
@Bhatakti_Aatma I completely agree. This is pure bullcrap
WigglyKoala
Zepto17mo
I like the house of X idea but it need serious execution.
Classic example of Podcast dekhne se dhandha nahi banta.
@Bhatakti_Aatma fee bad for what you and your team had to go through.
CosmicUnicorn
Stealth17mo
Right. The idea sounded exciting to me. They were hiring folks with relevant experience. And that's why I was gung-ho about joining & doing the execution part. After this burn, don't think I'll be looking to join a seed stage start up now unless I see their bank balance!! Won't just take the founders word on face value anymore.
FloatingUnicorn
Stealth17mo
What's house of x idea?
WigglyBanana
Stealth17mo
Sorry that this is happening to you They really should’ve toned town hiring if fundraise was a question
Unfortunate, given it would’ve been clear much more in advance
CosmicUnicorn
Stealth17mo
Exactly. What irks me is the incident happening sooo soon. I brought team-mates with me, and I'm responsible for their situation now. It sucks to be jobless, especially during this festive period.
SleepyBanana
Stealth17mo
RS's/House of X's reputation is already down the drain. No wonder they are not raising.
They partnered with GrowthX for hiring and were blacklisted pretty fast for unethical practices - both with candidates and hiring partners.
RS is just a talker. Operates more like a sweatshop owner. Do not trust "founders" like these. These people are not technologists, just cheap hustlers trying to fit into the ecosystem and take everyone for a ride.
CosmicUnicorn
Stealth17mo
What!! Heard about this for the first time.
People do criticize him since he takes all credits for success in his dad's business.
Don't know what's true anymore & if I can even identify the truth, mera toh ek hafte me kaat diya bhai ne
ZestyBagel
ShipRocket17mo
Ye Jo gyaan chod deta hai wo real life me follow nahi karta bilkul bhi, pata hi tha
CosmicUnicorn
Stealth17mo
True. I was watching his podcast with Mensa founder (Ananth) wherein Raj asked how do u build reputation for early stage start ups. Among other points, Ananth pointed out "how you let go off people matters a lot" RS nodded his head & I'm just thinking now he wanted to "gyan chodna" in his podcast & hasn't learnt a bit.
JazzyDonut
Stealth17mo
Why do you join such bad founder companies? In your case, greed comes before due diligence it seems. Don't crib now
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