In a world full of “Vauld” be a “Pillow”

Hi everyone Any update on how the tech, product and culture at pillow fund is like? They were into some stable returns on crypto product. Now they transformed into a FinTech for Africa and other markets. Any info on the same is highly appreciated Thanks in advance.

Heard Pillow is winding down operations. Their website says its because of regulatory troubles; I'd like to know what troubles - purely from an academic perspective. If anyone has any behind the scene knowledge or know anyone who does?

Another consumer tech startup bites the dust :/ https://entrackr.com/2023/10/ex-myntra-ceos-startup-virgio-shuts-down-after-raising-37-mn/

What could they do to undo this downward spiral?

I guess this will cover for all the other investments that didn’t workout for them in India

Byju's has raised nearly 6 billion in total and is now valued at 6 billion $. How does this work? I mean won't this mean all equities of byju's will now be with VCs?

Headcount decreased from 145 to 80 with the target of bringing it to 50. Ceo is a dumbo with no clear understanding of product and future. They launched a new product called Verk which was an AI agent that could do tasks of all kind for you but in background they hired cheap labour to do those tasks manually. Total sham. They aggressively hired across verticals for it and when the bubble burst and investors whopped asses of Ceo and cto (who is a co-founder but just follows master’s orders) by asking them not to use funds raised for a different product to fund this new sham product, they fired people within 2-3 days. Extraordinary performers were let go of just because of office politics and bootlicking by non performing old timers. Btw some founding members also resigned citing future difficulties since this is the 7th pivot they are taking. Founder ensures no firings will happen and then fires folks the next day. Sham company. Beware before joining!

They raised a Million Dollars I suppose . I liked the platform at the start , there were enough people looking for internship there but the problem I suppose is too many internship platforms doesn’t work . Also there is no brand loyalty among users (generally new graduates) to stay associated with a platform when the sole purpose is job search . Could have taken a leaf out of Grapevine 😃😃