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Medikabazaar - Another B2B fraud found

Company was inflating GMV by 60%

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5mo ago
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CosmicLlama
CosmicLlama
Stealth5mo

Its an open secret. Stupid VC and money are lucky to be together in the first place,

DancingDonut
DancingDonut
Stealth5mo

But it had PE investors like Creagis.

CosmicLlama
CosmicLlama
Stealth5mo

The smart people of medikar made them look stupid.

FluffyDumpling
FluffyDumpling
MongoDB5mo

Hamare desh me ek se bade ek chor baithe hain.

WigglyBanana
WigglyBanana
Stealth5mo

This will just keep happening in B2B It is the easiest sector where you can keep raising funds and not get caught

Since there is never anybody around you who uses the product, and large buyers/sellers can be incentivized to give good feedback during DD

Shame

ZippyPretzel
ZippyPretzel
HCL5mo

Say more? Why in B2B and not B2C?

DancingDonut
DancingDonut
Stealth5mo

These businesses are not B2B. They are B2VC, where VC is the buyer

SwirlyBurrito
SwirlyBurrito
Avendus Capital5mo

Where did you get the 60% inflating info? Can't see it in any reliable media sources

DancingDonut
DancingDonut
Stealth5mo

This article only Don't know if you consider Arc as a reliable source of information

SwirlyBurrito
SwirlyBurrito
Avendus Capital5mo

Hearing about The arc for the first time. Not sure it might be reliable but to my surprise, a platform like VCCircle also didn't talk this specifically about the scrutiny. Not sure what's at play here. Also why is Vivek now being shifted to the board role from CEO!? Such corporate misgovernance should result in complete termination imo

PeppyCoconut
PeppyCoconut
PayTM5mo

Aww shucks is this another scam in the making

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