Largest investor Sequoia voted against it so then why did Sumeet Singh, general council settle? Also what are they celebrating? They didn’t win, settled Was this some conspiracy where he was workin...

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Largest investor Sequoia voted against it so then why did Sumeet Singh, general council settle?
Also what are they celebrating? They didn’t win, settled
Was this some conspiracy where he was working for Ashneer?

Why did Bharatpe settled with Ashneer Grover?

Investor

Why did Bharatpe settled with Ashneer Grover?- Grapevine

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- BharatPe and Ashneer Grover have reached a settlement after months of litigation involving allegations of fraud and dishonesty.
- Grover will transfer 2.5-3% of his 8.4% stake to the company and settle with former co-founder Bhavik Koladiya by returning 3.10% of his stake.
- The settlement was driven by the risk of Grover's wife, Madhuri, facing arrest, leading to significant loss of control for Grover.
- Both parties have agreed to drop their legal cases, and Grover will no longer be associated with BharatPe.
- The settlement clears the path for BharatPe to raise its next round of funding, providing legal certainty for potential investors.

Source: [The Arc](https://thearcweb.com/article/ashneer-grover-forfeits-bharatpe-shares-in-settlement-deal-ySenqwWhmWNUAP2y)

Ashneer Grover Settles with BharatPe, Forfeits Shares

Settlement seems feasible only then when you are armtwisted by the arrest of your wife and brother in law....the evidence against them must have been pretty damning for the armtwisting to be successful. Ye sab doglapan hai!!

Assistant Manager

Journalist

Welcome to Indian Startups's Private Community

Anyone knows what's happening there anymore? Somehow never heard a layoff, business impacts, etc. etc.

All BharatPe CXOs from Ashneer's time are now out of the company

Analyst

Because Ashneer = Sam 😂😂😂😂😂

Lawyer

Not going to lie but Ashneer was right, Mankur Marikoo ka naam saath mei mat lena, tu mujhe gaali se se but naam saath mei mat lena( because he’s the biggest scam artist after Dakshat Shrivastava)

 Just like Vauld, Marikoo turns out to be the biggest sell out of all time yet again. With Fraud Shamani and Chetan Bro-goat following him, they promoted a scam Startup Conference in Noida stating you can raise funding there, that too within 3 days.

Turns out you have to pay 💰 a boatload of cash to get into the conference. Now it turns out to be a scam when the organisers fled away with the money.

It’s a pity that people follow these charlatans who masquerade as superior beings while their true character is revealed in moments like this..

Latest Scam: Ankur Warikoo, Chetan Bhagat, Raj Shamani

Product Manager

I heard the BharatPe board has hired a new full time CEO. Does anyone know who?

Who’s the next BharatPe CEO?

Product Owner

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

Project Manager

Welcome to Office Gossip's Private Community

Anyone who actually knows what happened in the BharatPe / OTPLess case? It's rumoured that the guy stole data.

Did Bhavik Koladiya steal BharatPe's data?

Software Engineer

I am software engineer at MakeMyTrip. I truly believe I am perfect for the role, really hoping to get referral at BharatPe. Let me know if you can refer, I will be truly obliged.

Thanks in advance.

Looking for referral at BharatPe

This is an interesting trend fully driven by VCs/board

(Co)founders laid-off

Apart from a few good ones here rest are toxic-ologists 🥲. Startup ecosystem is rosy from outside only (folks who know, know :))

Private Equity

You guys might think I’m joking today. But you will realise someday. 

He will soon return to Bharatpe for his second act as Steve did for his second act at Apple. 

Mic drop

Ashneer Grover is the Steve Jobs of India

I am reminded of Vivek Oberoi comparing his acting in Krishh 3 with that of Heath Ledger's in Dark knight

Founder

Ashneer Grover statement on RBI vs Paytm

CrickPe investors crying in a corner 🥲

Community post alert!

I've been reading quite deeply into the incidents at BharatPe, from whatever is out in the media, the book, and the legal stuff. It is very very baffling how things unfolded, and still unsure who was right, who was wrong.

Here are the facts:
1. How it starts: Ashneer and Shashvat started it in 2018, quickly became a key player in India's fintech sector. Their dynamic I hear has always been very unique because of the age gap. And there was a third founder.

2. Initial Controversy: In early 2022, the audio clip surfaced allegedly featuring Grover and his wife, Madhuri Jain, verbally abusing a Kotak Wealth Management employee. Grover initially claimed the clip was fake but later deleted his denial from social media. This was absolutely out of nowhere.

3. Financial Misconduct Allegations: Ashneer and his wife faced accusations of financial misconduct, including creating fake companies and back-dating invoices to embezzle funds. These allegations led to significant internal turmoil within BharatPe. From some GV posts, people claim this was true, and they have seen the fake receipts

4. Leadership Changes: Amidst the growing controversy, Ashneer took voluntary leave in January 2022. By March 2022, he was officially ousted from the company, and his ESOPs were canceled. Madhuri was also terminated from her senior role.

5. Further allegations: Reports of a toxic workplace culture under Grover's leadership emerged, raising broader questions about the ethical responsibilities of startup founders and investors.

6. Investor Feuds: All throughout Ashneer was completely bashful about investors on twitter. 

The company continues to run. There have been many major leadership exits. Idk how they got their licenses before any other startup, idk how they got the SBI chairman on their board. 

It is all very convoluted. Idk if anybody can add more. But who was in the wrong?

Conspiracy: Was Ashneer Grover really in the wrong?

Heard from a little bird that General Catalyst's deal of acquiring VH has fallen through? Can someone confirm?

Also what do you think of VH in general? I feel expensive bets with low single digit stakes. Personally, the folks especially Associates are way way too cocky and only believe in Faff

GC not acquiring Venture Highway

Venture Capital

They were backed by Elevation and Accel, had raised ~$7mn
Seems like getting transactions to happen was too tough, despite building a network. Getting money out of Indian SMBs, a consistently tough model.

Link to post: https://www.linkedin.com/pulse/so-long-anar-farewell-reflection-nishank-jain-oifxf?utm_source=share&utm_medium=member_ios&utm_campaign=share_via

B2B network Anar shuts down

Investment Associate

Going through the updates around founders fighting, do you think BharatPe would fail? Or is it too big to fail?

How big is BharatPe to fail?

I have always Wondered why people started praising Ashneer just because he was roasting the entrepreneur's startups? He has a Odd Lot mentality or a reverse physchology to give negative opinions in each and every startup.

A Good Business man is the one who can sell anything , Obviously there are a lot of scope of improvement. Few startups which were humiliated by him are literally doing well without any modifications into their products.

Simply, he was pretending to be cool by making reverse statements or roasting those startups.

Probably the reason why he was sacked out from his startup 😁 Lol

Why Ashneer had always a problem with startups in shark tank?

Software Developer

Most startup’s are not founded with great altruistic purpose to elevate human condition. Most startup’s are founded where founders know they can make money or earn status points through little schemes of leveraging their network of investors. 

Most of them know they can earn more income by just raising some money from friends or VCs. Build a small tech tool and burn through money trying to acquire and retain customers. All this while hiring 100s of employees selling false narratives. 

What bugs me the most isn’t the thousands of people getting laid off, salary corrections or bankruptcies, it is the mafiaesque organisation built to “create wealth for some by exploitation of countless others” 

Most startup founders use brute force of content and media coupled with ignorance of people to perpetuate this cycle. 

It’s the virtue signalling and holier than thou attitude of most founders and VCs justifying all their mindless brutality in the name of strategy and growth which destroys aspirations and outcomes for the many. It’s more relevant in India because of large scale ignorance about money and large scale trust on educated individuals with the right college tags! 

If you have seen sopranos, most founders are like Anthony soprano - summarily violent, manipulative and ruthless behaviour primarily driven by selfish greed but juxtaposed with moments of vulnerability and struggle justifying his action with a facade of providing for his family. 

*Replace Anthony soprano with your founder/ceo name* 


1. VSS was playing fast and lose with rbi regulations resulting in stock crash and layoffs 
2. Byju’s systematically destroyed his own company and wealth of his employees just to ensure he retains majority control 
3. Ashneer G and his wife manipulated company books
4. Zerodha founders cheated in chess match or lied about their system failures which lost a lot of capital

PS: I refer to most founders because there are few exceptions who don’t fit into this narrative.

Startup founders are mafia bosses!

Incredibly myopic and pessimistic view. I'd suggest trying to be a founder yourself once before judging them. 
  
 Not every startup needs to elevate human condition, plus you still need money to make that happen. 
  
 Most founders don't actually earn much compared to jobs they could've had in companies. All you see is the flashy idiots like Kunal Shah and Byju. Not the bootstrapper shutting down their 10th project for xyz reasons. Because no one likes talking about their failures, and no one listens to people who fail. Only those who succeed.  
  
 You have a problem with the human condition buddy, not founders. Humans can be real shitty given the right kind of conditions. Everyone's fallible, even you.  
  
 If you think you can be a better founder than some of the names you mentioned, then you're only indulging in holier than thou behaviour, which you allegedly hate about founders.  
  
 I do agree with some of the things you said, but much of it is way off.

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