Looks like it's over for BluSmart - they're getting absorbed into Uber as just another fleet partner

So long... what a good service... and then absolute lack of corporate governance fucked them up.

economictimes.indiatimes.com

Exclusive: BluSmart may end cab-hailing trip, hit reverse gear

Electric ride-hailing startup BluSmart plans to exit its core business and become a fleet partner...

2mo ago

Talking product sense with Ridhi

9 min AI interview5 questions

DancingCoconut

Stealth2mo

Actually, the service was really good! I had lot of hopes😒

DizzyBoba

Stealth2mo

What exactly led to the downfall tho?

PeppyPretzel

Stealth2mo

Financial misteps, debt issues, dependency on gensol engineering, exit of leadership, Dubai expansion, close links with hawala. The reasons are many.

DizzyBoba

Stealth2mo

Wow so they were doing many things wrong simultaneously

BouncyPickle

Atlassian2mo

Sad, I loved their service and used them a lot

SnoozyDumpling

Career Break2mo

This will be the story of most indian startups because most also suffer from corporate governance thanks in large parts to the brainless vulture of Venture Capitalists in India who don't bring much to the table other loan shark like mentality and money

PeppyPretzel

Stealth2mo

Absolutely right.

DerpyPancake

Stealth2mo

I read somewhere (on Reddit, I think?) that their workforce has a slew or sexual harassment complaints and the company is apparently a mess internally

PeppyPretzel

Stealth2mo

Yep

ZestyPretzel

Stealth2mo

Looks like another clickbait news. I have been in touch with relevant sources and understand that they are facing liquidity issue to service debts and in talks to raise funds under discounted valuation.

PeppyPretzel

Stealth2mo

There are 20 more she'll companies and every single person is also an employee of gensol. Many people got fired without severance pay and notice in those companies. How can Blusmart impact those if "Blusmart" has liquidity issues?