Kunal Shah’s first startup Freecharge was a disaster for everyone except early investors and himself. Freecharge failed the test of time and miserably folded while Kunal Shah became the gyaan king of Indian startup ecosystem. What would happen if Cred also folds which is quite a possibility? I guess that will be the irreversible bubble burst for Indian startup ecosystem. Thoughts?
Many friends working on senior positions it’ll be catastrophic for employees. Will create a shitty atmosphere in startup ecosystem
It's not gonna close...P2P biz can make them a decacorn...most of banks do same in India and earn huge profit...card payment, b2b brand promotion, travel biz , bill payment, and e commerce etc is also not a bad bet
I have seen such gyaans too many times for different companies. Yet I still see those companies thriving. Probably matter of when and not if but maybe it’s good if they stay out longer (for those employed)
Let's be honest any seasoned business watcher when he talks about successfull start ups of India never makes a mention of Cred. People.always knew it was gas with very less business sense to back it's economics. He was just banking on crazy valuation to bail out using IPO.
So it closing down won't affect impression on Indian start up cos never one took it seriously
I hope it does. But one use I have for it is to make card payments easily in one place.
Huh. On a side note, I have money in cred's P2P lending platform. Shouldn't get affected as it is handled by liquiloans though.
Won't have much effect of Indian startup system. It's more like an experiment - most of them will fail, very few scale.
Hey Fellas ! I am working at Flipkart in a business role (Cat Management ) . Recently have been offered a position at cred with good pay. Take it or leave it ? Thoughts on wlb and stability ?
What do you guys think about CRED's business model and future prospects? They've raised a ton of funding but still no clear path to profitability. Can they succeed long-term or is it just hype?
I fail to understand why people hold cred in such high regard. So much promise, so much advertising, yet no real value for the customer. Their UI is a mess honestly. Takes so much effort to navigate that hell of a musuem that mr shah has...
So after raising millions of dollars for "innovating in fintech", CRED has decided to get into the centuries old business of lending
The main company has burnt investor money mainly to build out distribution but no product.
Now...
