CRED has acquihired Spenny. But - https://www.livemint.com/news/spenny-phase-out-android-ios-apps-21-april-recommends-funds-withdrawal-migration-11679398735720.html
Help me understand...
It is an acquihire. You are basically hiring the people who built the company and any IP they may have created. The company's business in most such cases is not of value.
Oh okay! Thanks 🙏
CRED did not hire any employees working in spenny. They fired them all. The acquisition deal was just for the stock broking licenses that spenny had which got transferred to CRED.
Don’t believe just go check the current companies of all past employees of spenny.
source: my friend worked here.
Jar killled spenny and deciml imo
Is this true?
Their consumer lending app has been pretty much shut for a while and tough competition fused with frequent management diktats seems to indicate that this might be true.
