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.
Did the right thing 🫡
Acknowledging that things aren’t working and returning capital is always the right thing to do. And it takes lots of guts.
You can still pivot with capital. But it’s like you’re forcefully doing it if your heart isn’t at the right place
Last time I met him, he was far too bullish on this. Speaking literally of complete domination in the consumer tech space.
Worked in this space, really difficult to crack especially when distributors are too strong. A truly relationship driven segment.
Everyone tried becoming Alibaba, ended up becoming baba. Be it Udaan or Dealshare, everyone is struggling.
Building a startup is tough....#Respect
I am one of the worst critics of what he was building but props to the man.
Starting anything meaningful is hard and executing is even harder, so respect 🫡
