Info Edge Writes Off Entire Investment In Sequoia-Backed Bijnis
Wrong news, its a technical write-off because of some Indian Accounting standards Infoedge has to follow.
Why would someone write off in their books without it actually being a write off? Nonsense explanation by Infoedge and you seem to be dumb to fall for it
Considering there was a buy back clause and that was building a liability in books of Infoedge books and they had to reinstate there last 3 years financials which they thought impossible to do so , why would Infoedge give clarity if they would have actually written off, why would Sanjeev say on the analyst call that it is a techincal write off and will be written back in 2 quarter?
Think my friend, just masala of media mai maat kho jao.
This is not true for now, it is a ‘technical’ write-off https://twitter.com/katrishabh/status/1662080700907159552?s=46&t=Gfxvl_H8bzH-pFa2iCFXhw
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.li...
Why do people like Dukaan's founders receive funding so easily? Don't we have brilliant minds or promising startups in India, or is it the fault of short-sighted VCs who have money but lack vision?
After Unicorns now it's VCs 😁
Any idea whether this happened in India as well for their new entity ?
