Tiger, Elevation and Matrix backed fintech startup has started layoff. CTO has left and they have started firing in business roles with the largest cuts in tech.
Got this from one of their devs.
STAY Away!!
It only raised funds and became a product because the founders were in matrix partners. Never would’ve been funded otherwise.
Frontrow, Jodo, Zilingo tells you a lot about VC mafia mentality. Worst part is , even if you burn money and fail, you are welcomed back in a fund with open arms, unless you’ve done criminal activities with that money. True Entrepreneurs who actually work hard and fail don’t get this luxury.
Very well said! They truly didn't have the ability execute and delegate
IDC if VC is paying me 1M year I’d work meanwhile work on idea use that money to fund as “second time founder”😌
smartest entrepreneur have innate qualities to make situation turn into their favour.
It’s rare and deadly with fine execution!
Aaah, my cousin worked here. I am not suprised. Run!
Travel to US & London unofficial trips? 😨
Raising for wrong reasons
The dark knight rises
Sad
Calling 1:1 saying bye bye, already started, May 20 onwards more aggressive 1:1, why this formality ?. Just intiate town hall say single bye bye to everyone, why wasting time ??
They have enough money in the bank to run for 1.5 years, but they want to extend the runway and match profits with spending. This kind of vision will eventually fail; the product will fall flat, and the company will shut down for sure.
They should have told people to start looking out during the first layoff. Instead, they gave false hope in the town hall, trapping everyone with sweet talk. They have no real plan; their ultimate plan is to have no plan.
One thing you should do going forward: if you hear any rumors about layoffs, update your resume and start looking for new opportunities. If there’s no raise, start looking out. Work only from 9 to 6 PM; otherwise, you'll eventually get a full big lollypop.
Every month, study the business side and monitor how it progresses each quarter. Assess the company's health to avoid finding yourself in this situation again.
This is a learning experience for me—learn from your mistakes.
For those staying back in maintenance mode on this sinking ship, remember: a big lollypop is coming. Please keep it safe so you won’t get another lollypop next year.
It did not solve any identified problem
Before Jodo- option to pay school fees - one time payment or two instalments through electronic payments or cheques ( not automatic )
After Jodo- one time payment or register a mandate for two installments and pay Rs 1000.Yes 1000 Rs for a mandate
Probably the school admins / management got some kickbacks- and the parents had to pay.
Else no sane institution will implement such a service .
My best wishes to those laid off - hope you u find ur next soon
Layoffs are still going on in the month of May? I can't believe it
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