PrancingMochi
PrancingMochi

Another startup bites the dust. Sequoia backed Bijnis is dead.

20mo ago
App Promo
FuzzyTaco
FuzzyTaco

Wrong news, its a technical write-off because of some Indian Accounting standards Infoedge has to follow.

PrancingMochi
PrancingMochi

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

FuzzyTaco
FuzzyTaco

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.

FuzzyWaffle
FuzzyWaffle

This is not true for now, it is a ‘technical’ write-off https://twitter.com/katrishabh/status/1662080700907159552?s=46&t=Gfxvl_H8bzH-pFa2iCFXhw

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