Spinny lays off 300

In fy22, spinny ad spends grew 6.8x, revenue grew 4.3x. Thats real sad, not scalable at all. Even on mktg they were making 1 rs for 2 rs spend. Forget other costs.
It is sad, but I don’t know if their business model is viable.
brace for impact or pivot.

This is just a minor correction. Every company does this. It was a strategic call. They have enough runway to avoid any major layoffs.

Which all departments were affected?

Lol i am at their sponsored concert at Pheonix market city 😝

Yes, I bought a car from them last year too. Was a good experience both on their app and at the store. No issues with the car till date. Hope they do well.
Didn't know they were running multiple brands and not sure why they were doing so in the first place.

Spinny is so good though, friend bought a car and was an easy process and hassle free, they fixed the minor niggles in the car too + warranty. Hope they make it. 👊🏼

Looks pretty bad. There's another company in the same field which fell badly. Carvana is what am talking about. Spinny looks to spin till it can milk investors money