Flipkart.
Burns through $3.7 billion in one year.
That's approximately ₹30,000 crores.
₹82.2 crores a day, every day.
₹3.42 crores an hour, every hour of the year.
15 years and not a single naya paisa, dhela, pai, in profits. Ever.
#valuations
We have a winner here.
"Five-year-old OkCredit spends ₹297 to earn a rupee in FY22"
Revenue from operations: ₹39 lakh
Total expenses: ₹115 crores
BTB, income from interest & investments: ₹1.93 crores
🤡💸
@entrackr
entrackr.com/2022/12/five-y…
‘Your daughter will end up poor like you’
“I went to the police, wrote to the govt, central bank...finally went on Twitter,” Sharma added. “That was the only thing that helped.”
"‘Worst decision of my life’: Byju’s accused of driving parents into debt with predatory practices"
“The first principle is that you must not fool yourself, and you are the easiest person to fool.” - Richard P. Feynman.
"But none of the edtech founders, including the Byju’s co-founders themselves, saw what was coming."
moneycontrol.com/news/business/…
When the tide goes out...
Founders worth hundreds, thousands, of crores:
"But none of the edtech founders, including the Byju’s co-founders themselves, saw what was coming."
🤡
Me, in 2021: "2. Startup funding will dry up.
3. Valuations will tank."
😎
FY2021-22 Revenues: ₹5,704 crores (↑124%)
FY2021-22 Loss: ₹3,628 crores (↑124%)
ET's stunning insight: "Losses were primarily due to a surge in the company’s expenses"
"Swiggy's losses more than double at Rs 3,628.90 crore in FY22"
m.economictimes.com/tech/startups/…
FY2021-22 Revenues: ₹3,232 crores (↑308%)
FY2021-22 Loss: ₹3,247 crores (↑550%)
"Meesho losses surge more than 6X to Rs 3,247 crore in FY22"
retail.economictimes.indiatimes.com/news/e-commerc…
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