What will happen if Cred fails?
Kunal Shah’s first startup Freecharge was a disaster for everyone except early investors and himself. Freecharge failed the test of time and miserably folded while Kunal Shah became the gyaan king of Indian startup ecosystem. What would happen if Cred also folds which is quite a possibility? I guess that will be the irreversible bubble burst for Indian startup ecosystem. Thoughts?
Many friends working on senior positions it’ll be catastrophic for employees. Will create a shitty atmosphere in startup ecosystem
It's not gonna close...P2P biz can make them a decacorn...most of banks do same in India and earn huge profit...card payment, b2b brand promotion, travel biz , bill payment, and e commerce etc is also not a bad bet
I have seen such gyaans too many times for different companies. Yet I still see those companies thriving. Probably matter of when and not if but maybe it’s good if they stay out longer (for those employed)
Let's be honest any seasoned business watcher when he talks about successfull start ups of India never makes a mention of Cred. People.always knew it was gas with very less business sense to back it's economics. He was just banking on crazy valuation to bail out using IPO.
So it closing down won't affect impression on Indian start up cos never one took it seriously
I hope it does. But one use I have for it is to make card payments easily in one place.