incognito
Eloelo is probably a scam
Today raised $22m series B.
No revenue.
Video streaming app with Less than 1m daily users in india is valued over $100m... So every random person in india is worth over $100? Lol.
Competition, Chingari, Rooter, both in trouble. Eloelo has worse engagement than both (I looked on data.ai)
Definitely faking numbers to investors, why else would anyone invest.
14mo ago
BiryaniEnthu
Stealth14mo
Can they just fake numbers? Don't investors check before?
incognito
Stealth14mo
Simple. ignore all the bad user data, only show the good data.
Definition of "new signups" will be someone who has used the app for 1h+
They will say new sign ups all engage a lot. Will be true because they ignored data of everyone who left after 1h.
VCs do not check this.
potatomato
Fintech Startup14mo
Forbes 30u30 founders: hold my boba
JoblessAss
Jobless14mo
How is Loco, Rooter which almost in similar space but into gaming ?
user_129
Stealth14mo
Early days for this space I guess. Eloelo, Loco, Rooter are all doing public livestreams around games and chatting which is a new space.
Of the 3, Eloelo looks interesting n different from a PM pov.
But good to see consumer tech startups raise capital.
incognito
Stealth14mo
We don't need another fraud in consumer tech, it's not helping anything.
It's like saying gomechanic funding was a good thing for their industry.
tbh don't care about the product, the numbers speak for themselves.
BangaloreBuff
Stealth14mo
The Founder himself has a dubious past. Not someone you can trust even Rs.100 with, let alone ₹180 crores+
Fluxtuation
Ola Electric14mo
Like what?
incognito
Stealth14mo
The founder announced the series B on LinkedIn like "this is the best day of my life"
At least thank your team first asshole
LooseGoose
Stealth14mo
I was also surprised to see the news. Haven't even heard of it except maybe once. Concept might have sounded interesting few years ago but definitely not right now in this market.
Sounds like a scam to me.
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