Medikabazaar - Another B2B fraud found
Company was inflating GMV by 60%
Qwerty2398
Stealth
2 months ago
Its an open secret. Stupid VC and money are lucky to be together in the first place,
DaringTrain
Stealth
2 months ago
But it had PE investors like Creagis.
Qwerty2398
Stealth
2 months ago
The smart people of medikar made them look stupid.
This will just keep happening in B2B
It is the easiest sector where you can keep raising funds and not get caught
Since there is never anybody around you who uses the product, and large buyers/sellers can be incentivized to give good feedback during DD
Shame
DaringTrain
Stealth
2 months ago
These businesses are not B2B. They are B2VC, where VC is the buyer
Now someone will write a post on grape vine titled “VCs in India get heat for no reason! Unka paisa kaha pe bhi invest kare tumhe kya?”
Where did you get the 60% inflating info? Can't see it in any reliable media sources
DaringTrain
Stealth
2 months ago
This article only
Don't know if you consider Arc as a reliable source of information
Hearing about The arc for the first time. Not sure it might be reliable but to my surprise, a platform like VCCircle also didn't talk this specifically about the scrutiny. Not sure what's at play here. Also why is Vivek now being shifted to the board role from CEO!? Such corporate misgovernance should result in complete termination imo
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