This is just a prediction based on what I've been observing recently. Founder is publishing a lot of self ego boosting articles and aggressively hiring currently.
This has been going on for quite some time and they recently did some layoffs too!
These are some of the early signs when things start to go wrong.
Not sure about their numbers. And even though Indians really love gold it's not an investment. It's a hedge.
Let's see what happens in the next 12 months.
Founders cashed out decent chunks recently in secondary 🥲🫠
Woaah..At series B? Isn't that too early?
source?
what is the point of these apps? too many of them and offer no use. A lower working class non techie, who wants to invest in gold, will prefer to invest in the scheme offered by jewelers. A middle class techie with bare minimum idea about gold investment will do it thru SGB's. People with enough corpus, would prefers SGb's or even go for Bullion/jewellery.
These finance apps are destined to die. when the bull market ends, so will they. Why would anybody invest 10/- for gold? i guess they are targeting smokers and khaini users. Buy gold , instead of that.
Founder is publishing a lot of self ego boosting articles and aggressively hiring currently.
Just by this, you are predicting they will fall? Kuch bhi
They are hiring extensively because the culture is so bad that most of the folks leave in 3-6 months. It’s a very bad place to work. Too toxic. There is so much power struggle in the leadership that it just becomes very suffocating for people working under them. The numbers are also not looking good however founders are trying to create false image by quoting some random numbers in public.
Buying digital gold is the worst investment product - you directly lose 3% commission+ gst.
Jar is a flop product. They show acquisition of users at low cac by depositing Re 1 gold in their account. They don't have any business model, they will collapse.
finally someone realized this
Yeah, two of my friends who work at Jar told that Jar hires and fires in the guise of PIP. The culture is shitty.
Just read last week's Nutgraf edition by The Ken and it enticed me to write my predictions for 2025. Now I could be wrong for a lot of parts here, who knows. But I enjoyed the process of thinking about it.
Grab a tea and enjoy
While there are lot of VCs coming out with their ‘expert’ outlook on 2024, let’s be real to share our own predictions. Idea is to share and learn and not just mudsling.
Let me go first with few of my own
Heard Anuj (CPO) is leaving soon, and that they have had multiple exits this year. Is it not doing well?
If I'm not wrong they just started working in a very huge office recently.
