QuirkyPotato

Got some secrets off your chest 🧰

QuirkyPotato · 2023-08-11T19:54:50.414410+05:30

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.

I will start. Don't ask me to prove anything.

The CEO of MPL bought a ~20cr house in embassy grove, Bangalore just before laying off 50% of the MPL team this week.
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.

16mo ago

Find out if you are being paid fairly.Download Grapevine

QuirkyJellybean

Stealth16mo

Interesting. Tell us more about RMG industry secrets

QuirkyPotato

Stealth16mo

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

QuirkyPotato

Stealth16mo

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

GigglyBagel

Stealth16mo

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

SqueakyNugget

Stealth16mo

Lol

GigglyMuffin

Scaler16mo

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

QuirkyPotato

Stealth16mo

$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.

GroovyBoba

X (formerly Twitter)16mo

Man stop with this daily motivation to become a founder

CosmicLlama

Stealth16mo

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

CosmicLlama

Stealth16mo

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..

DizzyWaffle

Stealth16mo

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

Discover more

Curated from across

Ask a question on Grapevine.

Get the app on Android or iOS.

Privacy Terms

Guidelines Help