They had horrible support, NPS would probably in double digit -ve

Product Owner

Valuation of 1800 crore, sold at 90 crore The cofounder also acknowledges they were overvalued and got sold for cheap due to investor pressure in this Morning Context article... Another startup tha...

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Valuation of 1800 crore, sold at 90 crore
The cofounder also acknowledges they were overvalued and got sold for cheap due to investor pressure in this Morning Context article... Another startup that became victim of the funding winter
Thoughts? 

https://themorningcontext.com/internet/why-nestaway-crashed

NestAway's valuation

VC Analyst

NestAway's valuation- Grapevine

Welcome to Indian Startups's Private Community

https://techcrunch.com/2023/06/02/nestaway-aurum/?tpcc=tcplustwitter

PropTech firm Aurum is acquiring NestAway, a once high-flying Indian startup operating in the same space, for up to $10.9 million, in a deal that marks a near complete erosion in value for the startup’s investors.

Nestaway sells for $11Mn (earlier valued at $225Mn). What a sad erosion of value

Product Manager

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

Virgio shuts down a year into raising $37Mn

Get a tag(college/company) -> Open a startup -> Get Funding (even seed stage is fine) -> Burn money -> sell or shut down startup. 
  
 Fastest way to accumulate wealth in today's time.

Software Developer

Corporate Strategist

Byjus Valuation Sliced By 99% - Rasing a 200 million $ through rights issue at 250 million dollars

Software Engineer

Whats with Fi money laying of 10% of their workforce for a 2 yr extended runway

Clueless founders, panicking investors, dead market and garbage product. All combine to create these situations.

Analyst

99% off. Now $120Mn only.

Layoffs are happening at Sharechat starting today.
Each division is being asked to join a call and they are being announced.
First call with product org - around 50 folks were impacted

Layoffs at Sharechat.

They moved to a new massive swanky Office 3 months ago. Team parities were happening even last week. And they do this in last week of the year spoiling the new year plans of hundreds of folks!

Channel Sales

Come at me, I'm not scared. There is a reason why FAANG engineers are top-rated VS some random startup engineer.

Here are the reasons why I think that Indian Startup culture is pure cringe:

1. The random use of the following emojis- 🚀💰📈📊💡
2. Fake enthusiasm for every little thing - "Wow! 25M people ordered condoms WOWOW!!!🚀"
3. Claim that you are a verb("company name"): "I am a (Zoman, Flipster, Swiggster or whatever)" but no one really knows about it outside of your company.
4. The HR is a proper softie in the name of Employee wellbeing but will end up being a sadist the moment layoffs happen.
5. Think hard if you really want to work in a place that is your LinkedIn feed on Steroids.

Indian startup culture is the cringiest thing ever

Bruh you high? 
 Have you not seen the infinite amount of cringe generated by so-called faang engineers on blind?  
 Startup or faang, shit is the same everywhere.

Founder

Growth Manager

The timing of Zeptos fundraise is significant given the slump in investments into growth- and late-stage startups on the one hand and the correction being witnessed in the quick commerce segment on the other.

Unicorn drought ends as Zepto raises $200 million at $1.4 billion valuation

Zepto becomes India's 1st 2023 unicorn

Everything kept aside, it’s genuinely awe-inspiring that they’ve been able to do this in a market with close to zero interest in consumer internet plays, and most models failing  
  
 There’s definitely something about the way they executed. And many good things are said within the ecosystem about Aadit as a founder!

I guess the had the same tech valuations problem that WeWork and any non-tech businesses have had in the last couple of years.

Oyo raising a round at $2.5-3Bn valuation, major discount from peak valuation

Operations Manager

It’s considered immature to speak negatively of your past employers. But i am going to share some anyway. 

Used to work at Oyo with Ritesh - directly. Havent seen a more deluded personality - high headed, pretentious and above all, bipolar. He used to speak so rudely at times that it makes you question if the money is worth it. I have often wanted to tell some people - if he invested all the softbank funding into Nifty, LPs would have had a decent return than the ever failing IPO attempts. 

I am so glad the valuation reality kicked in and humbled these founders down. At the end of the day though they amassed a lot of wealth. But at what cost. 

Eager to hear on Byju BKLora.

Rant against OYO

Read somewhere that they raised 525 Cr while the rev. at that point stood at 14L

What exactly went wrong with Koo?

Venture Capital

Felix Baumgartner actually 𝗯𝗿𝗲𝗮𝗸𝗶𝗻𝗴 𝘁𝗵𝗲 𝘀𝗼𝘂𝗻𝗱 𝗯𝗮𝗿𝗿𝗶𝗲𝗿 in the longest freefall of all time comes to my mind first.
Apparently, RedBull spent $𝟯𝟬𝗠 𝗨𝗦𝗗 for the event and in return made upwards of $𝟱𝟬𝟬𝗠++

What similar example comes to your mind?

What’s the craziest marketing stunt you’ve ever heard of?

Just read this after getting to know earlier today that one of the cofounders have resigned. Didnt even know that the cofounders never had a stake, they’d just get a salary. Super weird.

Reliance pulls representatives from Dunzo’s board

Not the first nor the last.  Haptik was probably one of the early ones that got arsenic poisoned post Jio acquisition.  Slow slow death.  
  
 Reliance will continue to fiddle around the ecosystem and buy a random set of start ups.  Mukess bhai's fuck-you-money account is a few billions. 250 mil written off makes no difference to his life. 
  
 Start Ups have to learn to get investors on board that have the right intent and roadmap aligned to their vision.  Includes the testicular fortitude to say NO even to Warren Buffet.

Sales Manager

BYJUs has raised a round of 700 M last week in a tight funding market, investors are said to be Middle East based sovereign wealth fund. It is said messi partnership and fifa World Cup had introduced the firm to Middle East sovereign funds

BYJUs has raised a whooping USD 700 m (6000 cr.) in this market

WeWork, once at 47 billion $ valuation, at brink of bankruptcy

What could they do to undo this downward spiral?

How long before Byjus runs out of funds?

So again Unacademy has asked people to leave, and asked them to resign.

Leadership is so clueless about what they are doing, they fired 3-4 people whom they had hired a month ago. Imagine the situation 😂

And I don't see this stopping at Unacademy anytime soon

They are aching left, right and centre. Still some people are making advt videos with Sachin.

And the nalla has time to tweet and enjoy vacation, I pity the investors who funded them.

100th Layoff round at Unacademy

- Swiggy has filed for an IPO with SEBI, aiming to raise Rs 3,750 crore through fresh equity shares and an OFS of up to 185,286,265 shares.
- Prosus plans to offload 63.8% of the OFS, with other investors like Accel, Alpha Wave Ventures, and Tencent also participating.
- Funds will be used to invest in Scootsy, expand dark stores, and enhance technology and cloud infrastructure.
- Swiggy reported a 36% revenue growth to Rs 11,247 crore in FY24 and a 44% reduction in losses to Rs 2,350 crore.
- The IPO will heighten competition with Zomato, which currently has a market cap of $29.5 billion. 

 Source: [Entrackr](https://entrackr.com/2024/09/swiggy-eyes-rs-3750-cr-in-fresh-issue-as-prosus-prepares-to-sell-63-8-of-ofs/)

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Let me down slowly 🎶