Indian Startups Community

by incognito

Stealth

a year ago

Got some secrets off your chest 🧰

I will start. Don't ask me to prove anything. 1. The CEO of MPL bought a ~20cr house in embassy grove, Bangalore just before laying off 50% of the MPL team this week. 2. VC funded Live streaming apps like rooter, eloelo, are basically frauds. Get tonnes of cheap users by running ads that look like porn, the real engagement is really bad unless they do giveaways. They use VC money to show porn ads and do giveaways, brag about downloads & engagement to raise even more VC money. It's a total ponzi.

Jack3d

Unicorn

a year ago

Interesting. Tell us more about RMG industry secrets

incognito

Stealth

a year ago

Not much of a secret, but almost all players use bots to suck out cash, a lot. None of it is regulated.

incognito

Stealth

a year ago

By players, I mean rmg companies themselves use fake accounts to beat real players.

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SteveRogers

Stealth

a year ago

A relative of mine lost INR 20 Lakhs in RummyCircle. He is above 50 years old and lives in a village.

Badbunny

Stealth

a year ago

Lol

Lonewolf_48

US Based Startup

a year ago

MPL was planning a big offsite for the whole team to GOA. Cancelled after the 28% announcement. Penetration is really high in tier 2-3 cities with average people playing for 1000s per week. Their marketing is targeted to lower income individuals specifically. They recently went to USA with games like snakes and ladders, bingo, etc and are targeting Latinos, blacks and other ethnic minorities specifically to generate more GMV. They are following the lottery logic that lower the household income higher the wise to try your luck. Their monthly spending on US marketing is around usd 100k and they are getting profitable in that territory

incognito

Stealth

a year ago

$100k per month in USA is a really small budget compared to what they spend in India. Overall it sounds predatory. But the only startups that seem to work in the domestic market have the same target demo.

Elon_Musk

X.com

a year ago

Man stop with this daily motivation to become a founder

Qwerty2398

Stealth

a year ago

Every time I read news about edtech and RMG companies.. I regret not starting a startup in 2020. Could have scammed a few crores.

Qwerty2398

Stealth

a year ago

Probably the second greatest missed opportunity after not buying into the 2020 market crash. Any random stock purchased in 2020 April would have given stupendous returns..

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arbitdxc

Mentor/Advisor

a year ago

Money corrupts. Absolute money corrupts absolutely. So sad to see the pathetic ethical mindset, widespread in startups nowadays.

ElonMast

Amazon

a year ago

How’s the penetration of RMG in non-tier1 cities?

Weeknd

Avendus Capital

a year ago

What does RMG mean here ? Real Money Gaming ?

RamsayBrothers

Unilever

a year ago

Yes

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random_tom

Startup

a year ago

MPL didn't even waited for few month to layoff they just did it within a month after the govt announced looks like they just wanted to ride layoff ride as they were already in loss

Borosil_Carrier

Stealth

a year ago

Only spot events such as runout and wickets can be fixed during a cricket match.

LittleDetails

Stealth

a year ago

Point 2 is point on. They don’t pay or honour the give away winners. And on bigger scheme of events when they’re giving out grand prizes they choose winners amongst employee circles and make up winners. Porn ads with HnB creators are used to sexually entice downloads from tier 2 & 3 , but once user is on app after clicking on said ads they barely find what they came for, lol. Hence poor retention.

Noctus

Stealth

a year ago

Bro just exposed the gaming industry in India

satan

Stealth

a year ago

Hey guys what’s RMG? Which I’m too junior to understand?

BingoMadAngles

Stealth

a year ago

Real Money Gaming

JadeArgent

Independent Law Practice

a year ago

The company I used to work with previously collaborated with Rooter so I really want to know more about the Rooter bit!

treyhey

Stealth

a year ago

In banks when they do secret layoffs they call it golden handshake

ShortShipper

Stealth

a year ago

What about loco and rooter? I am not any seeing any ads

Supreme_leader

Stealth

a year ago

bombaya

Fampay

a year ago

A fintech startup’s founders , recently did layoffs and then went to 1 week holiday to international destination for the long weekend!