Shopflo layoffs
Shopflo laid off 28% of the team today - still don’t understand how this company exists and is hoping to make any money. Having no idea what to do next, they’re desperate to travel to US now to try and capture market there - reminder that this is a market with Fast and Bolt, both massively funded, shut down completely 🤡
Sad indeed. I saw them doing colab with Indian DTC brands. Thought they were doing quite good
Indusplateau
Stealth
2 years ago
Yeah, same. Felt like they were a hit with most shark 🦈 tank brands
One click checkout has been a challenging product to pull off in every company
Indusplateau
Stealth
2 years ago
Seems lile no moat. Heard razorpay and cashfree are working on releasing a similar product.
Dont know how is gokwik doing
GoKwik seems to be doing pretty well; happen to know their core team. Cashfree acquired Zecpe in the same space.
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jinyang
Stealth
2 years ago
Apparently struggling to raise followup rounds and even justify current valuations 🤡🤡
An early stage company, with decent cash in bank (unless they burnt through their entire seed rohnd) and now laying off 8/29 people is just a master class on how not to run a company 🙌🏼
Funfact: One of the people affected was hired 3 months back, 3 MONTHS!! Clear lack of vision amongst the founders.
DarkTrash26
Stealth
2 years ago
3 months sounds like a probation gone bad
Rode on muh D2C bandwagon. One of the founders was hostel mate in Kota.
EagerDiam10
Stealth
2 years ago
Looks like a cost-cutting measure that all these startups are doing in these tough times
We are recruiting. Please send CVs to [email protected]. Fully remote role, SaaS early stage startup
Fallguy
Stealth
2 years ago
Making money already lol - anyway running a business is hard and I’m sure the decision was not an easy one - hope this is one off and they make it big anyway
I got lucky in that case, was thinking of joining them few months back. One of the CXO's directly reached out on LinkedIn to join them.
It’s very simple. Any company that enables D2C brands will not do well because D2C brands themselves don’t do well. Because meta is not focusing on ads as much and google is google lol. So cac will increase, retention will go down & audience quality will drop. In fact, no “d2c” brand does more than 30% revenue on their own platform. These companies literally are hunting for leftovers.
They can make more money by becoming Amazon analytics providers.
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