CRED is doing silent layoffs[Don’t join]
I along with some others from my team have been laid-off and the reason they are giving is performance issues but thats not the case. Even the most hard-working folks are being laid-off. Its not just my team its across org. They can’t make money due to their business model and silently laying off people to save their reputation in the market. They have unexpectedly high expectations from their employees.
“It all golden from the outside but inside its rotten”
Talking product sense with Ridhi
9 min AI interview5 questions
The business model always looked shady. Finally turning to the model which is as old as time- lending. You can't make money other than this, quite simple! Wouldn't be surprised if they closed everything down and just focused on increasing the unsecured lending business. Time to smell the coffee!
All the fintech super apps are pretty much the same which increases competition and lower the revenues in the segment.
Never golden from outside, we knew it was a ticking bomb.
If, for years, a company is not able to make money and sitting on VC cash - bound to fail.
You are lucky you got out of this. Much better things in store for you. Best wishes 🙌
But this is how tech companies work. It takes time to figure out scalable business models. If CRED wanted to be small profitable company, it could have done it just using an NBFC license. If you aim to be build something that’s never been built before, there is no playbook to copy and you are always fighting to survive while chasing audacious goals.