Product analyst

Software Engineer

Hmmm. I wouldn’t say I’ve ever seen a male friend of mine actually re-buying man matters stuff. 

But their distribution is insane. They’re at all premium medical stores

Have heard stores are returning their goods unsold. Seems they're booking revenue on sor sale to stores that are returned after few months

Investor

Product Marketing Manager

Partner

Founder

Little birdie tells me X numbers of Y company are fudged. Over invoicing and under booking of cash costs. Raised zz from A,B,C. - standard template needs more substance.

Communication

Business analyst

They run the brand's manmatters and bebodywise - had recently raised $30 mn.

So my birdie tells me that mosaic wellness numbers are fudged and over reporting of revenues happening! What do you guys think?

So my birdie tells me that mosaic wellness numbers are fudged and over reporting of revenues happening! What do you guys think?- Grapevine

Welcome to Confessions's Private Community

I was into a founder’s office. Working closely with the leadership team of a funded Agri-tech startup (Which shall strictly remain anon in this post)

Does it happen to others the same way as it did to me?

I was one of the first FOs in the org and I was trying to figure what is up with this startup.

About 21 days in to company, I was helping a co-founder with a report that has to go out to investors.

I open up the metrics dashboard to enter numbers when he said “he knew the figures by heart”, so we began entering metrics like GMV and others. These were 5x of my range.

I said we should just double check ? He said there are factors in the formula that I have not considered at all and I finish the report as per the numbers he gave me.

Confused, I later dared to ask the lead PM how are we computing GMV. And told him about my dilemma to tell the founder we need to just double check his calculations.
Bless my naiveté.

He had a nervous smile and told me we report numbers that keep the startup exciting and afloat. We will catch up very soon with them.

The next morning, the founder also took me for a meeting and explained how doing this is important for everyone in the company to succeed.

I was very scared but lived in an autopilot of nervousness for 6 months. Part-took in it while being scared of going to prison myself.

I felt a terrible dread in my stomach in every interaction with with the admin and CA teams since in my first interaction I came across what I sensed to be a big fake bill. Was I blind to miss everyone in the office get a new chair the last month?

I never asked doubts on the money numbers the CA team gave me. But had reasons to doubt it basis other business data I had access to.

Everyone seemed to be on the same kind of auto pilot, good people who had never done anything wrong before this as far as I knew. Everyone considered leaving the culture and toxicity every week. 

The day I left, I had the email of the investors of the company since I’d emailed them countless decks and reports. I really wanted to drop an anonymous email revealing what I knew to them but I was afraid of the following repercussions to my career and I let the matter go.

Reporting fake GMV and more

Investment Associate

Welcome to Indian Startups's Private Community

Hi,

I see many jobs being posted by Mosaic Wellness on job sites including LinkedIn and I’m considering applying. 

Does anybody know about the work culture there? Also heard they work 6 days a week (Glassdoor/AmbitionBox), how’s that affecting the people working there? Any insights related to them will be helpful

How is Mosaic Wellness and work culture?

How it happened?
-wifi turned off
-Slack disabled
-Email disabled

Mojocare laysoff their entire staff of around 200+ people

I know this might be a one off, but even if they are close to profitable/break even quarters, this can become a strong business

Big if true, given Meesho’s scale

Product Manager

Heard that they had 7 floors and now only one floor left. 1300+ peoole let go in 3 months

dealshare layoff 90% staff

Project 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

Growth Manager

The startup is Accel and Elevation backed. 

The company raised seed funding because the founder and team is from IIT- Kharagpur, and Accel + Elevation have people from IIT-Kharagpur working in their team. 

The founder has no prior work experience, no manners on how to speak with anyone (office boy, or women employees) keeps firing people who don’t agree with him, insists on being in the office for 12 hours because he pays us. 

Hiring criteria is -
1. Single people, so no distraction. He asks are you single or in a relationship (in the interview)
2. No married people 
3. Hire women only if they can stay in office till 5 AM (US based startup)
4. Everyone has to be in office for 12 hours compulsory for all 6 days of week

He boasts on how the VCs will save his ass even if the product fails, has said that worst case scenario I will make money because I know company will be acquired. 

He hires domain experts, makes them create playbook and train juniors to do the work, and then fires them saying "We have to stay lean, and this is a bad market". He did this with 3 departments already. 

How are the VCs not asking him basic due diligence questions? He is now raising 8 million follow up round.

RANT.

There was some call around 9 AM today, some folks are laid off. Didn't know the % yet.

So my birdie tells me that mosaic wellness numbers are fudged and over reporting of revenues happening! What do you guys think?

Discover More

Confessions on

by AdventurousLocker

Private Equity

Reporting fake GMV and more

Indian Startups on

by Wanderer

Stealth

How is Mosaic Wellness and work culture?

Layoffs on

by Broodaway

Stealth

Mojocare laysoff their entire staff of around 200+ people

Indian Startups on

by DeeplyDone

Swiggy

Big if true, given Meesho’s scale

Layoffs on

by PlushRite

Stealth

dealshare layoff 90% staff

Layoffs on

by JJproduct

Startup

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

Indian Startups on

by Bosslady

Student

RANT.

Bangalore on

by WageSlaveX

Software engineer

Meesho started layoffs !!!!