Won't have much effect of Indian startup system. It's more like an experiment - most of them will fail, very few scale.

Data engineer

Huh. On a side note, I have money in cred's P2P lending platform. Shouldn't get affected as it is handled by liquiloans though.

Software Engineer

I hope it does. But one use I have for it is to make card payments easily in one place.

Let's be honest any seasoned business watcher when he talks about successfull start ups of India never makes a mention of Cred. People.always knew it was gas with very less business sense to back it's economics. 
 He was just banking on crazy valuation to bail out using IPO.  
  
 So it closing down won't affect impression on Indian start up cos never one took it seriously

Program Manager

Many friends working on senior positions it’ll be catastrophic for employees. Will create a shitty atmosphere in startup ecosystem

I have seen such gyaans too many times for different companies. Yet I still see those companies thriving. Probably matter of when and not if but maybe it’s good if they stay out longer (for those employed)

It's not gonna close...P2P biz can make them a decacorn...most of banks do same in India and earn huge profit...card payment, b2b brand promotion, travel biz , bill payment, and e commerce etc is also not a bad bet

Senior Consultant

Kunal Shah’s first startup Freecharge was a disaster for everyone except early investors and himself. Freecharge failed the test of time and miserably folded while Kunal Shah became the gyaan king ...

Welcome to Indian Startups's Private Community

Kunal Shah’s first startup Freecharge was a disaster for everyone except early investors and himself. Freecharge failed the test of time and miserably folded while Kunal Shah became the gyaan king of Indian startup ecosystem. What would happen if Cred also folds which is quite a possibility? I guess that will be the irreversible bubble burst for Indian startup ecosystem. Thoughts?

What will happen if Cred fails?

What will happen if Cred fails?- Grapevine

E-lafda

Consultant

I fail to understand why people hold cred in such high regard. So much promise, so much advertising, yet no real value for the customer.
Their UI is a mess honestly. Takes so much effort to navigate that hell of a musuem that mr shah has built to masturbate upon. 
They started as a company that helped people pay credit card bills, now asking the same people to do UPI with “assured” cashback “upto” gimmicks. 
Ending up making india’s top 1 percent population play stupid arcade games to win a mind boggling 1 rs. 👏👏👏
Cred store doesn’t draw any value any more. The much advertised cred garage failed miserably. 
Why the hell and what the hell are they for? No real value man.

They take so so much information from us. And li tell make no value for the user. Bhai kam se kam ek bhadiya credit card hi bata do spends analyse karke jisse logon ke thode zyada paise bach jayein.

Cred: is Kunal Shah pulling off a scam here?

Intern

- 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)?

Real Estate

Cred is truly a topic of surprise for me. Yes, I understand it has created a community of top spenders/credit worthy people in India. I also understand that they can use the information on such people for creating value for themselves.

Being a cred user, I only use it to pay the bills. I really wonder if they have built any b2b business or alternative source of income beyond what's seen to the end user. What's the game plan for the cred? 

I also applaud the fact that cred hasn't laid off people having paid them better than most companies. I really wonder if the business is really that strong or the conviction is. Would you join cred if given a chance to work there?

Cred

I feel cred is doomed and just trying to increase its value. 
 And the end goal is to sell the cred to someone with higher value and make money.

Product Manager

What problems would Indian and Global startups be solving in the next decade, or they would be just throwing random yearly new buzz words and as usual VCs would be having orgasms on these buzz words.

I mean real problems.

Startups of the coming age

Frontend Engineer

In the world of d11 and games 24x7, Mr. ashneers startup has failed miserably and proved that he is good in reels and shark tank only??

Ashneer Grover new Venture CricPe is dead

Welcome to Business Roles's Private Community

I read that their CAC went down by a lot. Good financials. But whats the catch? Interviewing with them right now for a marketing role.

Hows the culture at CRED? Specifically across product and marketing?

Marketing Associate

Saw an ad by Mobikwik where they are mocking cred. After bharatpe debacle, Mobikwik extra is doing good and firm is profitable as well.

What do you think about Mobikwik in world of Paytm, phone pe and gpay post IPO??

https://youtu.be/rB6s8yGjcOM?si=nh0LCbfkwEU6C3EE

Cred vs Mobikwik

"BYJU’S grew considerably since our first investment in 2018, but, over time, its reporting and governance structures did not evolve sufficiently for a company of that scale. Despite repeated efforts from our Director, executive leadership at BYJU’S regularly disregarded advice and recommendations relating to strategic, operational, legal, and corporate governance matters. The decision for our Director to step down from the BYJU’S Board was taken after it became clear that he was unable to fulfil his fiduciary duty to serve the long-term interests of the Company and its stakeholders."

https://techcrunch.com/2023/07/24/prosus-questions-byjus-governance-says-indian-edtech-regularly-disregarded-advice/?tpcc=tcplustwitter

This is major - Prosus just publically said that BYJU's had improper governance and failed to improve despite their recommendations

Largest shareholder saying this publicly, I wonder if there is any way of recovering from this point

Corporate Strategist

Investment Associate

Hey Fellas ! I am working at Flipkart in a business role (Cat Management ) . Recently have been offered a position at cred with good pay.  Take it or leave it ? Thoughts on wlb and stability ?

Cred Or Flipkart ?

Business Development

Welcome to Personal Finance's Private Community

Every month my salary gets credited I barely spend 20% of it the rest of it is just sitting around in my bank account it's already above 5L. I keep thinking of investing it in stocks/mf but it's a lot of work 😔 

What do you guys do with your salary, it would be great if you can share your investment strategy and how do you keep yourself motivated to stick to it

What should I do with my money

What's the current value of those with Face value 10, How many do you own what's the Grey market Price ?

Does anyone own Cred Shares 🤑 💰

I thought cred would have worst ratio of (revenue/ employee cost) among unicorns fintechs but phonepe's (revenue/ employee cost)  is least.  Things are looking gloomy for phonepe

Cred is a Mafia it seems 😂

Business Development Manager

Just read this after getting to know earlier today that one of the cofounders have resigned. Didnt even know that the cofounders never had a stake, they’d just get a salary. Super weird.

Reliance pulls representatives from Dunzo’s board

Not the first nor the last.  Haptik was probably one of the early ones that got arsenic poisoned post Jio acquisition.  Slow slow death.  
  
 Reliance will continue to fiddle around the ecosystem and buy a random set of start ups.  Mukess bhai's fuck-you-money account is a few billions. 250 mil written off makes no difference to his life. 
  
 Start Ups have to learn to get investors on board that have the right intent and roadmap aligned to their vision.  Includes the testicular fortitude to say NO even to Warren Buffet.

Sales Manager

Analyst

YourStory is India’s biggest and definitive platform for startups and entrepreneurs related stories

Investors Say “India se Paisa Nikaal Lo” : Vijay Shekhar Sharma

Many companies will go bankrupt between January 2024 and June 2024 : Paytm CEO Vijay Shekhar Sharma

Distrust predictions; even economists err. Avoid armchair experts and celebrity founders' opinions.

As we can see only 3-5% Indian startups become profitable and rest of are still in the loss. But Cred , Zomato, Paytm and many more loss making companies are still in the market with tag of "Unicorn". Ye kaise possible ho paa rha hai.. investors ab bhi Paisa lagaye chale Jaa rhe hai .. 
Why ????????

Loss making startup

Read somewhere that they raised 525 Cr while the rev. at that point stood at 14L

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