Don’t think this is big news 
 Mike Moritz is 68, and even previously had to step down due to illness 
  
 He’s a legendary investor though, what a career

Program Manager

Not sure 
 This is the only article that talks about them but is paywalled :( 
  
 Can’t find their names 
 Let me know if you do

Corporate Strategist

Product Design Manager

Product Manager

Welcome to Indian Startups's Private Community

Sequoia in trouble. Major shake ups.

Sequoia in trouble. Major shake ups.- Grapevine

Sequoia rebrands to Peak XV Partners. They are giving a positive spin in the press but not hard to connect the dots.

After Unicorns now it's VCs 😁

Any idea whether this happened in India as well for their new entity ?

https://www.forbes.com/sites/kenrickcai/2023/07/24/sequoia-talent-team-layoffs-firm-restructuring/?sh=5d3a78d925f4

Sequoia VC  Layoffs

Growth Manager

Reason given by investors on Mojocare sounds very fishy. At one end they are blaming the founder for embezzlement while on other end they are blaming market conditions and unsustainable business model for the layoff of employees. Doglapan?

Project Manager

Classplus is falling apart. The CTO, CBO and VP-Business have resigned from the company amidst rumours around financial irregularities. Classplus now joins a long list of Indian startups caught amidst fraud/financial irregularities allegations. Classplus was last valued $600Mn in their last funding round and counts Tiger Global, Falcon Edge, Peak XV (formerly Sequoia India) as their investors.

Classplus is going belly up. Big news to come out soon.

Founder

Welcome to News Discussion's Private Community

Which VC is this?

Things like this make startups sound like a ponzi scheme

know of a Sequoia backed founder who moved from edtech to crypto to AI over last 3 years. Should Founders also chase just what is hot in the market?

Indian founders should pay the price for frauds. Ashneer Grover driving his Ferrari bought from stolen money and becoming a hero on television has set up a very bad example for the youth.

Elizabeth Holmes (Theranos) is in jail in the US for frauds she committed. Why aren't any Indian founder in jail for cheating investors and employees? How are Indian founders able to get away with shit? Its sets a very bad example

Brace yourself everybody. Another big fraud coming and this will be bigger than what we have seen so far. Sequoia (Peak XV) portfolio company.

Finance Consultant

PeakXV (sequoia) has a history of firing CEOs and changing leadership when they become an investor.

At least in this case they'll have full support.

PeakXV (sequoia) should by RCB

Hi , this post is intended to be a disclaimer to anyone who is planning to join Yubi. A lot of things are happening here that show some signs of an impending layoff

1) Several senior folks in tech and product have quit. Also there is no replacement hiring planned for them. Several projects are also getting shelved as a result.

2) there were several open roles a few weeks back and almost all of them are on hold as of now across all depts( tech , business , ops)

3) rampant cost cutting. The lunch options have been reduced to just 1 dal , 1 veg , rice and chapati.  Snacks have been removed too.


Because of several folks quitting in less than 6 months and no replacement hiring , load has increased tremendously on existing members who are themselves trying to leave. 

People have serious doubts on whether any hike or bonus will be given or not this year.

Rampant negativity at Yubi

I heard that even VCs like Sequoia and Matrix Venture Partners are laying off people 

Sequoia has laid off 3 Analysts, 1 VP and 1 associate and Matrix has laid off 5-6 people

Any thoughts? Is it true? 

#layoffs

Venture Capital layoffs

Venture Capital

INDmoney

Welcome to Product Managers's Private Community

See that Meesho has hired loads of PMs from ISB (I think because VP Product is an ISB Alum). Any bias towards it? 

Considering ISB PMs come at high cost, the average PM salary would easily be 27-29L.

 Though the company has bragged about amazing work policies - permanent WFH, quaterly meetups, unlimited leaves and so on. But it seems like they are going back on their word by calling people to the office. 

How's the overall team culture? Can someone shed some light?

Meesho Product Culture

Just wanted to give some updates now that it has been 1 month since the last post

1) Senior Leadership from Tech (3) , a senior director from Product , Finance Head have all resigned. Strategy team has been dissolved. 
2) There are more people in the pipeline and will get more clarity by month end.
3) Everyone over the CTC of 60 lakh has been asked about the revenue that they bring in and based on that, their position is being reconsidered.
4) All contract workers have been terminated. Interns have been told that they won't be receiving PPOs.
5) Senior Management Has been asked to take 20% paycuts. 
6) Even at Junior level, people have been asked to take pay cuts or resign.
7) Lots of tools used in tech are being removed and AWS subscription has also been revised.


Meanwhile HRs have been celebrating on slack channels that Yubi has been ranked in Top 25 companies for career development :/

Rampant Negativity at Yubi Part 2

It was a pretty tense situation at the office. 

Nearly all engineering managers were laid off, most of the SDE-2s who were not the core engineering team and a lot of SDE-1s who had just joined this year. Even the interns were let go today.

Pretty scary scenario today. Just putting out an update. Apparently it was done to please the investors for the next series of funding. Can't say for sure though.

Sequoia in trouble. Major shake ups.

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