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I heard it is lending kinda product 🤔 Do you guys know something about this ?

Welcome to Indian Startups's Private Community

I heard it is lending kinda product 🤔
Do you guys know something about this ?

Secret startup of Kunal Shah?

Secret startup of Kunal Shah?- Grapevine

Recently I was talking to a girl who was working a startup in BLR. She left the startup with some horrendous experiences. This startup was working from a startup hostel in BLR. Things she told me shook me. She was dating the founder.

So this founder who claims to be on his 2nd startup dates his own employees and then blackmails them.
The average age of his employees is 24. All these girls that he dates are not above 23/24

Apparently this guy has 2 court cases against him. One for fraud and one for a rape case. Both of them are not easily found online. He uses VC money to keep in under the hood.

The fraud case is about his first startup which was a stolen idea apparently. 

This guy’s whole life is fake.
He claims to be an IIT Madras dropout, but he's from some local college. 

There are rumours that one of the girls he dated tried to kill herself because he allegedly filmed them.

He also does not pay salaries for months to his employees but compensates by giving them expensive gifts.

He claims his parents are IAS officers but we checked and they are not. 

His last startup was around around AUTH and current one is around Fintech

Girls and boys stay away from working with such shady startups.

Tinder Swindler of BLR

Interesting, the whole story is about unknown man with unknown startup. Thanks for such an insightful post.

Product Manager

Founder

https://www.youtube.com/watch?v=fE0frCNDccQ&ab_channel=CRED

Why is CRED spending so much on Ads ? Do they really need it ?

Senior Software Engineer

- Are these guys on the path to profitability now? What do they even do? Just sell loans and insurance to rich people who won't fall for that shit anyway? What's their edge over the hundreds of other companies already doing that?

- How much are they burning now? How much runway do they have?

- Cuz everyone abuses their CRED coins and calls them worthless.

- Most importantly, I'm sick of seeing Kunal Shah's smug dp pop up on my Twitter everyday with some new gyan while it's unclear what he even does

What's the deal with CRED?

Real Estate

Is Cred making money?

Growth Manager

I will get the ball rolling: heard that Kunal Shah invests as less as INR 50K in return for good % of equity, by saying that using his name in media will give the startup enough value in itself (can't deny tbh).

What have you heard/seen around the circuit?

Secrets of Indian Angels/VCs

- So after raising millions of dollars for "innovating in fintech", CRED has decided to get into the centuries old business of lending 

- The main company has burnt investor money mainly to build out distribution but no product. 

- Now when they decided to get into lending, Kunal Shah acquired an NBFC where he personally owns approx 80% stake and CRED owns 20% 

- Through this NBFC, CRED gives out their loans on BNPL products. Now Kunal Shah wants to slowly sell the rest of his stake to the main company CRED

- Except the NBFC is worthless without CRED's distribution. And CRED is worth a lot less without any product and Kunal Shah holds only 12% equity in the main cash-burning loss-making company after all those dilutions in funding rounds. 

- By making CRED acquire this NBFC at inflated valuations where he owns majority stake, he's gonna personally cash out once again while CRED will still have a long journey ahead of them. 

How are the CRED investors ok with this?

Do you guys know about CRED & Newtap Technologies (NBFC)?

Welcome to Office Gossip's Private Community

I've been hearing some pretty bad things about Navi's work culture - esp. in the analytics teams. Apart from the 12-14 hour days, apparently you're not even allowed to take leaves. If you want to go home for a few days, you're asked to apply for wfh for those days. If you want to wfh, you're asked to apply for a sick leave and then work nevertheless.
 
Can someone from Navi or otherwise confirm this?

Work culture at Navi

Team Lead

Welcome to Software Engineers's Private Community

I am kind of pursuing him for a start-up. I have seen him on screens but if anyone who believes he is truly helpful and legit entrepreneur who like to help. Please like or comment your insight. 
Growing fraudsters concerns me.

Is Kunal Shah legit and helpful?

Solution Architect

Once the posterboy of vc funded fast growing startups, Khatabook has grown quite. Anyone has an idea what's happening? I have heard from somewhere they have become profitable on the back of lending to shopkeepers.

What's happening at Khatabook?

The company did around 10-15% silent layoffs in the last cycle by putting people in PIP. 
My Manager told me that he has pressure on him to put at least 1 or 2 people in PIP, make them leave the company and reduce costs.

Later, the company did as low an appraisal as 2%.

Senior folks are leaving specifically Frontend Developers.

Salaries of a lot of SDE-2 are below 30 LPA.

They have started new positions called Product Developers which will do the same work as SDEs but with a lesser package. PD-1 salary is around 10-12 lakhs and of Lead PD is 20-22 lakhs.

The company is putting itself in a position where it wants people to leave on their own.

There are almost zero perks in the company. 
The team outing budget is a joke which is 2k INR per person per year. That is 500 rupees per person per quarter. 

Also making office mandatory from November.

Razorpay is too smart!

Good thing. Anyways their frontend devs and PMs were doing everything on Twitter except tech.

Software Engineer

Software Developer

VC here. Doing this for fun.
Don't take all views seriously.

Comment a startup's name, I'll share if it's promising or whatever I know

Analyst

CTC or GTFO

UX/UI Designer

Shocking!!!
BTW apart from FrontRow never heard about any company. Have you?

Startup shutdowns

I need to connect with Kunal Shah regarding my startup. Is there anyone willing to help me with this? 8252526474 WhatsApp me...please

Anyone from CRED?

Got an offer from them 6 months ago . Didn't join as their business didn't look sound . They said to me that they are building a UPI app I was like phonpe & paytm are already there na ! 
I expected some layoffs from slice as they were giving pretty high packages and a lot of over hiring.
But surprisingly I didn't hear anything like that even though many start-ups which have stronger business models than slice are laying off.

What's up with SLICE ???

Startup where i am working got the NBFC lisence.

Product Designer

Welcome to News Discussion's Private Community

https://inc42.com/features/1k-kirana-bankruptcy-fire-sale-kirana-tech/

1K Kirana shuts down, after raising #36Mn from Info Edge and Alpha Wave

Let's ignore what's wrong with startups, keep this an optimistic thread. Which startups make you excited about their future? 
The ones that have cracked product, GTM, model, or something else.

Name the best Indian startups :)

Secret startup of Kunal Shah?

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