
Another startup bites the dust. Sequoia backed Bijnis is dead.
Info Edge Writes Off Entire Investment In Sequoia-Backed Bijnis
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 🫡
Had an interview with the engineering head last year. All questions were asked on scaling, how to decrease time of APIs . Not a standard question very tough questions and not satisfied with any answer.
I feel sad for him. Had an offer from them, but decided not to accept it.
Well written post from him
They were also paying very well. PM were getting 70lakh ctc
Feeling bad for the team now.
Info Edge Writes Off Entire Investment In Sequoia-Backed Bijnis
Wow, had many friends who were at one point bullish on them or planning to interview This is weird - this was a fai...
When I saw the notification I thought it would be 1000 kirana shops are shutting down
I now get why foreign investors are afraid in investing for Indian startups, it's worse than that low level scammers ...
After closure of B2B vertical of Dealshare, will Udaan/Ninjacart/Elasticrun, etc. also close this vertical? Anyone from these companies who can share some details as to what's going on?
A thread:
Over the last 2 months, the Chief Business Officer, Head of Marketing, and Head of Enterprise have been laid off.
CEO has surrounded himself with 3-4 Yes Men/Women who have no expertise in the respective domains tha...