Why do people like Dukaan's founders receive funding so easily? Don't we have brilliant minds or promising startups in India, or is it the fault of short-sighted VCs who have money but lack vision?
Confidence in Bullshitting (aka charisma) is more often the determinant in funding success than actual skill or experience.
Combine that with a good market cycle and it's pretty easy to get stories like these. Happens every cycle.
With dukaan it was more hope and hype. Remember it was khatabook and ok credit who has launched shopify like digital stores along with bookkeeping. Dukaan’s founder built the app for khatabook. At the time yc had funded on theme of shopify for india so investors hoped there is a market and somebody figure it out. Pagarbook got the money around the same time.
Reportedly, sequoia tried to hijack the deal. Lightspeed convinced the dukaan folks to take their money. In a typical Indian fashion, these guys just hoped there would be a big enough market and invested based on hype. The enthu died down after six months. Almost all of the above mentioned startups are no longer on a rocket ship trajectory (not dissing on them, but they are not in that high growth zone that was expected)
That founder su**s
What’s the deal with Udaan? I thought they were doing well off
Dukaan is a great idea but twitter behaviour is something VCs any judge. Honestly it was mostly driven by FoMo for VCs as well. VCs are bunch of MBA grads looking to spend their portfolio money in the hopes of recovering 10X+ at some point in time.
I am Thankful to the funding winter it has revealed true colors of so called Founders, who would not stop talking about culture, Growth, scale etc on Twitter and LinkedIn
Take Byjus, for instance, they claim to be revolutionizing educa...
Head of fin transferred money from company’s account to personal account. Where is the innovation?
Hey everyone.
Thought I could do an AMA. A bit about me - have 4 years of work experience and graduated from a non engineering college. Was at a startup before (from Series B to Series D) before becoming a VC
Personally look at co...
This is the biggest problem with VC ecosystem 4 yoe kids taking calls on experienced, hardworking founders. Dude firs...
