Another startup bites the dust. Sequoia backed Bijnis is dead.
Info Edge Writes Off Entire Investment In Sequoia-Backed Bijnis
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Wrong news, its a technical write-off because of some Indian Accounting standards Infoedge has to follow.
Why would someone write off in their books without it actually being a write off? Nonsense explanation by Infoedge and you seem to be dumb to fall for it
Considering there was a buy back clause and that was building a liability in books of Infoedge books and they had to reinstate there last 3 years financials which they thought impossible to do so , why would Infoedge give clarity if they would have actually written off, why would Sanjeev say on the analyst call that it is a techincal write off and will be written back in 2 quarter?
Think my friend, just masala of media mai maat kho jao.
This is not true for now, it is a ‘technical’ write-off https://twitter.com/katrishabh/status/1662080700907159552?s=46&t=Gfxvl_H8bzH-pFa2iCFXhw