Apna is heading for a cliff!
A thread:
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Over the last 2 months, the Chief Business Officer, Head of Marketing, and Head of Enterprise have been laid off.
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CEO has surrounded himself with 3-4 Yes Men/Women who have no expertise in the respective domains that they are currently looking at (being called as Founder’s Office staff – but are basically playing the role of glorified postmen/women)
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Rest of the senior leadership has been demoted for all practical purposes and all business decisions are taken in weekend meetings between the CEO, and his close friend (who is also acting as the CBO currently)
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Work culture has become so toxic that employees across levels are either looking out or jumping ship or even resigning without offers in hand
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There is a ton of investor pressure on the CEO to start showing tangible revenue – classic case of raising money at bloated valuations with no business model in place
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What is apna btw?
A startup in the blue collar hiring space
Can you pls elaborate more
Ceo should dial byju raveendran, he is PhD in valuation over Value
Have heard that CEO lives in USA and building for blue collar Bharat. seems completely disconnected with reality both metaphorically and literally.
Apna will rise from the ashes and prove everyone wrong.
The only market that has depth in India is hiring
Yes, but no one wants to pay. Definitely the blue collar folks won't pay.
Where do you source supply?
Majority of India is employed in between blue collar and white collar. SMBs in India have a hard time hiring employees as they don’t have access to talent which leads to them remaining SMBs due to lack of talent.
That layer is where the opportunity lies in India. As unorganised sector moves towards organised, this opportunity is bound to increase manifold.
Raising more money than projected: Kiss of death. Also sorry to hear the condition you're in. All the best for job search.
Apna toh apna hota hai
APNA raised money in shortest time to become $1B valued 😂
Any twitter thread on this?