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.
Can they just fake numbers? Don't investors check before?
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.
Forbes 30u30 founders: hold my boba
How is Loco, Rooter which almost in similar space but into gaming ?
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.
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.
The Founder himself has a dubious past. Not someone you can trust even Rs.100 with, let alone ₹180 crores+
Like what?
The founder announced the series B on LinkedIn like "this is the best day of my life"
At least thank your team first asshole
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.
We grew by 200% this year. By 2028 we will be doing 500M ARR. /s
30% of engineers will be gone. 50% of higher managenment will be gone. List contains a total of 80 devs/managers/directors/Vp/CTO from Tech team, reducing the Tech Team size to merely 130.
How does byjus justify their valuation, when th...
