Brand Marketing Manager

Growth Manager

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Gamezy Fantasy Business shutting down?

Software Engineer

Gamezy Fantasy Business shutting down?- Grapevine

Bengaluru-based Gameskraft has decided to discontinue its fantasy offering, Gamezy Fantasy, from September 18

Exclusive: Amid Tax Troubles, GamesKraft Pulls The Plug On Gamezy Fantasy

Gamezy Fantasy getting shut down

A real money fantasy gaming company based in navi mumbai is all set to lay off more than 70% of its workforce. The employees have already been told to start searching for jobs elsewhere. Layoffs will begin  post October. 
They will most probably put the employees on pip before termination.

Layoffs at a growing Fantasy gaming company based out of Navi Mumbai

Product Manager

Wanted to know whether a person should join dream11, factors i am looking for:
1. Culture
2. Career growth - looking at the recent GST rule

Role: Strategy manager

Is dream11 worth joining?

Becoz of GST many companies are pivoting or changing gaming algo to make players loose to pay GST. Game of chances are being launched

1. MPL , Launched betting games 
2. Zuppee , teen patti and betting games 
3. Games craft , rummy circle rigged card distribution
4. Tradex , Probo Mostly will shut down 
5. Rummy apps , Better opinion , tamasha and other small companies are planning to shut down RMG part
6. Nazara acquired RMG companies are unable to operate 
7. Octro is closing the RMG app. 

What more ? If anyone knows do share up.

RMG (Real money Gaming) companies going dead

Hoping they all close ASAP. 28% GST  is not enough. It should be higher at 50%.

Westerners used Internet and computing to design better planes and build better engines, our guys are using it to play cards.

Consultant

Founder

Welcome to Office Gossip's Private Community

There were lots of rumors going that unacademy IAS founder is selling stake. He is not selling his stake. I confirmed it.
cc: RS, GM, HS

Unacademy IAS founder is not selling stake

Software Developer

They’ve been mentioned in posts here previously, this is just an official update that something was wrong

Anybody knows more of what went on there?

Tiger backed Groyyo will have to shut down its B2B/trading business

Corporate Strategist

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

Welcome to News Discussion's Private Community

After 28% GST, what’s the scene like in the offices of fantasy gaming offices?

With govt breathing down neck of all gaming RMG cos heard some big names are leaving

1. Senior leadership exits at one of the big Rummy RMG players. Silent exits expected of one entire layer because they don’t want to message that they are not doing well with all govt GST laws. Business drop by 50%

2. Mobile Premier League / MPL CEO cofounder is going to step down. The other cofounder who runs the company day2day will take over. News is that CEO has been on vacation even with all this GST action & some notices they got. laying off 50% of company & then with 20cr house think he has done enough 

RMG is most happening industry across !!!

Big News!!! exits in gaming

Product Owner

- 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

- Kenko Health founders Aniruddha Sen and Dhiraj Goel informed employees in June about the company's financial troubles and legal action by a debt investor at the NCLT.
- The startup's website and communication channels are currently unresponsive, and its offices in Bengaluru and Mumbai have been closed.
- Kenko was close to securing a new domestic investor, but the equity dilution alarmed existing investors, hindering the deal.
- Founded in 2019, Kenko raised over $13.7 Mn and aimed to become an insurtech company but failed to secure an insurance license from IRDAI.
- The insurtech segment in India is expected to become a $307 Bn opportunity by 2030, with players like Go Digit, PB Fintech, Acko, and Paytm. 

 Source: [Inc42](https://inc42.com/buzz/kenko-health-shuts-ops-due-to-cash-crunch-failure-to-get-insurance-licence/)

Kenko Health Shuts Down Due to Cash Crunch and Licensing Issues

- BeepKart, a used two-wheeler marketplace, has **laid off around 130 employees** in three rounds over the past five months.
- The Bengaluru-based startup also **closed six of its 11 stores** in Bengaluru and Chennai as part of a cost-cutting exercise.
- The layoffs and closures come amid a **funding crunch** and unsuccessful expansion efforts.
- BeepKart's attempts to increase margins by **raising prices** led to a loss of customers to competitors.
- The startup reported a **net loss of INR 28 Cr** on an operating revenue of INR 22 Cr in FY23.

Source: [Inc42](https://inc42.com/buzz/exclusive-beepkart-fires-130-employees-in-5-months-to-cut-costs-halves-store-count/)

BeepKart Lays Off 130 Employees, Shuts Half of Stores Amid Funding Crunch

Heard from some ex employee that their dues are pending and everyone fears the one time challenger Neo-MBA Alternative company has no funds and will to continue.  

Is it shutting down? Or are they pivoting again! ?? 

I was looking for switching from the current co (M). But the edtech scene looks bad now

Is Stoa closing doors?

How is FanCraze doing?

I've heard rumours that Dangal Games has shut down it's operations after the 28% GST, can anyone please confirm?

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

Phase wise started and now entire team is being let go..

Fan clash laying off entire workforce

There’s no way they can foot the retrospective GST tax dues to the. Government. What next for them ? Dream 11 is Ambani safe haven - will it somehow get saved. ?

Are Indian fantasy gaming and betting apps going to die?

Digital Accessibility Technologist

Just to confirm here. Got to know from an employee but still need to verify it. Can anyone help. 15 Feb is the last day.

Gamezy Fantasy Business shutting down?

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