Student housing startup YourSpace reported a 21.8% increase in revenue to Rs 142.7 crore in FY24, up from Rs 117.2 crore in FY23.   The company's losses also rose, reaching Rs 30.7 crore in FY24, a...

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- Student housing startup Your-Space reported a 21.8% increase in revenue to Rs 142.7 crore in FY24, up from Rs 117.2 crore in FY23. 
- The company's losses also rose, reaching Rs 30.7 crore in FY24, a 20% increase from Rs 25.5 crore in FY23. 
- Your-Space operates over 60 smart spaces providing affordable housing for students, with income from residential services accounting for 99.5% of total operating revenue. 
- Rental costs for accommodations made up 52.6% of total expenses, rising by 34% to Rs 92.2 crore in FY24. 
- The company has raised Rs 129 crore to date and competes with other student housing providers like Abuzz Oxfordcaps and Stanza Living.

Source: [Entrackr](https://entrackr.com/2024/10/your-space-posts-rs-142-cr-revenue-in-fy24-losses-up-20/)

Your-Space Revenue Hits Rs 142 Cr in FY24, Losses Rise by 20%

Journalist

Your-Space Revenue Hits Rs 142 Cr in FY24, Losses Rise by 20%- Grapevine

- Livspace, the home interior platform, saw a 14.78% revenue growth in FY24, reaching Rs 1,185.7 crore.
- The company's losses shrank by 48.48%, down to Rs 413.8 crore from Rs 803.3 crore in FY23.
- Revenue from interior projects formed 94% of the total, increasing to Rs 1,110.65 crore.
- Employee benefits expenses dropped by 16.1%, contributing to controlled overall expenditure.
- Livspace plans to shift its domicile to India and aims to go public within 18-24 months. 

 Source: [Entrackr](https://entrackr.com/2024/09/livspace-revenue-crosses-rs-1200-cr-in-fy24-losses-shrink-by-48/)

Livspace Revenue Soars to Rs 1,200 Cr in FY24, Losses Halved

Welcome to Indian Startups's Private Community

Context - Morning Context article on Teachmint
https://themorningcontext.com/internet/teachmint-is-the-latest-edtech-on-the-verge-of-a-crisis

IITians or Ponzi Schemers?

Some excerpts from the article: 
  
 Their core product is not relevant to schools in the post-pandemic world,” says the edtech entrepreneur. “Unless they are able to build additional layers, they will not be able to monetize.” 
 “Burn has been relatively high in the past, however, we have aligned our burn and business structure to be in-line with the current market and macro factors,” said the Teachmint spokesperson. After starting paid subscriptions late in 2021-22, revenue saw “a major ramp” in 2022-23, they said. The company is “working towards breaking even over the next 3 years”. 
  
 “The money got to their head. It gave them fake confidence and COVID exacerbated that. They became cocky and arrogant,” says the second former employee. “I remember discussions used to be like how to make a $10 billion company. And we were like, please get the revenue of $1 million. They thought whatever they touch will turn to gold. And this has been the reason for their downfall.” 
  
 “It is pretty shocking to see identical Mercedes SUVs in the parking lot. How can you do this after raising just a Series B?” asks a second former employee, also on condition of anonymity. “Especially when you don’t have a product and vision?” 
  
  
 “Both Mihir and Divyansh bought houses worth crores of rupees. All this was done when the company still had no steady revenue,” says a third former employee, requesting not to be identified. 
  
 The buyback “is very similar to a founder secondary [just a different structure],” says a VC investor, asking not to be named. “Founder shares are typically locked in. So, if it is a small amount, <Rs 10 crore type in a mature company, yes. Else, likely no.”

Founder

Program Manager

Third Wave has only 1 year of runway left, with 70% of it's outlets being loss making 🤯

When you compete to serve the top 1% of India, obviously it will end up in losses

Category Manager

Corporate Strategist

Welcome to Office Gossip's Private Community

Ask me anything about Byjus

Engineering Manager

VC here. Doing this for fun.
Don't take all views seriously.

Comment a startup's name, I'll share if it's promising or whatever I know

Analyst

It doubled it's revenue in and losses have also reduced in FY23. Is it the only edtech doing well?

How are things at upGrad?

VC Analyst

https://inc42.com/features/indian-startup-fy23-financials-tracker-tracking-the-financial-performance-of-top-startups/amp/

The FY23 Financials Of Indian Startups

Software Engineer

Name the startups makes 1000 Cr profit per year?

Investor

Another day, another newsbreak on a start-up's downfall. The whole Co-living Start-up bubble might burst!
Can go through this article and share your views?
https://themorningcontext.com/internet/stanza-and-the-coliving-business-struggle-to-survive#:~:text=Stanza%20Living%20is%20struggling.,no%20money%20has%20come%20in.

Stanza Living to Crash

Software Developer

Unacademy’s FY23 Loss Falls 41% To INR 1,678 Cr, Posts INR 907 Cr Revenue

Unacademy’s Loss Falls 40% FY2023

Absolutely sad to see the state of the startups, most of them.
I am a founder myself, and this is a post with equal disappointment with myself as much as it is for anyone else who relates.
Look at all these companies that have raised shit tons of capital, and now make a fraction of money that has been invested in them.
The raised money is spent on outsized, non business sense making acquisition costs, only to keep repeating it till the tap runs dry.
Then when all stakeholders get bored, the service quality plummets, the employees are fired and whole sectors are admonished as being bad.

But, my question is, which sector where large sums of money was invested in early days have come out with flying colours. Fucking nothing !
Edtech, proptech, agritech, ecommerce etc. etc. etc. kuch bhi nahi. 

Is there any sector where a startup which has raised in the 100s of millions in the first 5 years have actually built a sustainable business at any scale ?
Then scaling down, isse acha, scale slowly.
The worst part of this whole drama, is pushing the innovation wheel backward and destroying customer sentiment.

Isse acha, raise less money inititally, build slowly, and only scale when the market is ready. Artifical growth makes no sense, unless you have a treasure chest that shall never run out.
Even in that case, spend the money on assets and not on random acquisition costs, direct or indirect.

As founders, let's do better, nahi ?

Rant or is it ?

Byjus Revenue

Growth Manager

First the audit report got delayed. Now they’ve reported a loss of over 4.5k cr. And I believe they’re like a mothership of edtech, if they gone down then the entire category goes down from an investment perspective

What’s happening with byjus?

Byjus Financial FY 22 Results will come out next week and internal news is that Byjus have done around USD 1 Billion revenue  and same loss .

One more round of layoffs happening soon with so many VPS being shown the door

Byjus Results -7000-8000+ Crore Revenue and 8500 crore loss

2 Engineering Director's and a Marketing Director left in last 2 months. 
CTO, CGO, CHRO have put down papers and are leaving soon. 
A Sr. Engg Director has also resigned.
A couple of SDE's joined and are leaving within the month of joining and more older SDE's leaving too.
These are voluntary exits despite the current layoff and downtrend.

Mass exodus at Upstox

Product Manager

First, they had a layoff.
Lot of good people quit including great people
Then, they had a second lay off 
Some  great people in the leadership quit.
Middle management people are quitting every day.
Only engineers and other people who are not able to get jobs are remaining 
They shut down majority of US acquisitions
They are trying to sell some of them like Tynkr and Epic
Not able to raise funding till now even though trying since December 
Sales is down 90% 
New Inside Sales process is not working 
They are out of runway.

Byjus may shut down

Woah that’s a huge round!

Painful to see so many startups run out of money/ shut down. Is your company doing good?

Founders are not shitposting on the socials, so that’s good I think 😅

1 year back all startups were losing money like crazy while all of a sudden everyone from Swiggy to Meesho to Unacademy are profitable or EBITDA positive.
Other companies which were profitable earlier have not shown a spike in profit.

Were these companies uselessly burning money earlier if they can just suddenly become profitable in 6-8 months

Profitable startups

Felix Baumgartner actually 𝗯𝗿𝗲𝗮𝗸𝗶𝗻𝗴 𝘁𝗵𝗲 𝘀𝗼𝘂𝗻𝗱 𝗯𝗮𝗿𝗿𝗶𝗲𝗿 in the longest freefall of all time comes to my mind first.
Apparently, RedBull spent $𝟯𝟬𝗠 𝗨𝗦𝗗 for the event and in return made upwards of $𝟱𝟬𝟬𝗠++

What similar example comes to your mind?

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