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Lifestyle social commerce platform <keyword id="8861782" type="General" weightage="20" keywordseo="trell" source="Orion">Trell</keyword> has seen another wave of employee exodus as it struggles to pay creators in the country. At least 100 more employees have left the video commerce platform as several creators and influencers wait for their dues to be cleared, sources told IANS on Monday. The Instagram community page of Trell was full of complaints from the creators who requested the company to clear their pending payments. "How about you clear the pending payments of your creators," one such affected creator wrote. Others said Trell is clearing dues of popular creators with large fan following while ignoring small influencers. A query sent to Trell went unanswered. The platform recently asked more than 300 employees to go as it had to do "some right-sizing within the firm". In April, Trell was probed by a forensic team from EY India over financial irregularities amid allegations that its founders siphoned off money. The audit firm's review last month alleged serious financial irregularities at the company. The founders -- Pulkit Agrawal, Bimal Kartheek Rebba, and Arun Lodhi -- were investigated by the forensic team of EY India. The allegations also stalled Trell's $100 million funding round. In July last year, Trell raised $45 million in a Series B round led by financial group Mirae Asset, H&amp;M Group and co-led by LB Investments. With the closing of the Series B round, Trell had raised $62 million. Previous investors, along with KTB Network, Samsung Ventures, and Fosun RZ Capital also participated in the Series B round. In August 2020, Trell launched its social commerce section on the app, enabling users to watch personalised product recommendations across beauty, personal care and wellness categories that they can buy from within the app. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/adani-enterprises-maruti-suzuki-infosys-among-stocks-to-watch-out-for-on-june-27/slidelist/92481042.cms">Adani Enterprises, Maruti Suzuki, Infosys among stocks to watch out for on June 27</a> <a href="https://www.businessinsider.in/stock-market/news/oil-prices-could-slump-to-75-a-barrel-in-a-recession-or-jump-to-150-if-european-sanctions-slam-russian-supplies-bofa-says/articleshow/92474354.cms" data-type="tilCustomLink">Oil prices could slump to $75 a barrel in a recession — or jump to $150 if European sanctions slam Russian supplies, BofA says</a> <a href="https://www.businessinsider.in/international/news/tesla-is-laying-off-workers-who-only-just-started-and-withdrawing-employment-offers-as-elon-musks-job-cuts-begin/articleshow/92470514.cms" data-type="tilCustomLink">Tesla is laying off workers who only just started and withdrawing employment offers as Elon Musk's job cuts begin</a>

Employee exodus at Trell which is struggling to pay its influencers

<ul><li>The Indian founders had earlier called the ban on Chinese apps as the atmanirbhar moment for India’s entrepreneurs.</li><li>To handle the surge in users and traffic, the startups are now also aggressively hiring to better their offerings. </li><li>Here are all the openings in short-form video apps in India.</li></ul>On June 29, TikTok got banned in India along with 58 other Chinese apps. And since that very moment, India’s rival apps of the Chinese giant have seen their user base jump up by millions. The Indian founders even called this the atmanirbhar moment for India’s entrepreneurs."This is the digital atmanirbhar moment that most Indians have been rooting for,” said Naveen Tewari, founder and CEO of InMobi Group which owns Roposo. Indian entrepreneurs believe with this, ‘Made in India’ apps will get a boost as they won’t be fighting with Chinese companies, who have the cash to spend and build a userbase. “The move can be hugely beneficial for Indian companies considering the potential Indian startups have in terms of creating our own TikTok, We Chat, Baidu. Many others are all poised to make it big with the scale our country provides and absence of Chinese competitors with deep pockets,” Sandeep Singh, founder and president, Khabri. But to handle the surge in users and traffic, the startups are now also aggressively hiring to better their offerings. Here are all the openings in short-form video apps in India Chingari Chingari has got over 16million users in just 25 days and was trending in the top apps on the Google Playstore. The team needs 10-15 people right away to help with the surge in traffic – UI/UX designers, engineers and more. <div type="twitter" handle="adityakothari" handlename="Aditya Kothari" image="http://pbs.twimg.com/profile_images/1181273690819817472/ylFghAkJ_normal.jpg" favoritecount="109" retweetcount="37" status="Looking for a docker/kubernetes/backend architect for @Chingari_IN . If you're looking to build a backend infra, an… https://t.co/BBQtJ4Rl8C" createdat="1594502330000" id="1282061813891227649"></div> Bolo Indya Bolo Indya – which works as an infotainment app, was another to build on success after TikTok’s ban. “There was a huge jump in user increase in first 24 hours of the ban, and we saw over 2.5 lakh installs, with 87% of these signing up and creating videos and 1.27 crore videos were created in June,” said Varun Saxena, Co-Founder, Bolo Indya. The company said that it has continued its hiring activities even during lockdown and 3 new members have joined during lockdown phase while 2 more will be joining next month. Simultaneously, the company has aggressive hiring plans in technology teams across Android, AI and ML roles with remote interactions. “We took lockdown and its consequences as an opportunity to interact with some extraordinary talents and explore the synergies to join us on our mission to enable Bharat to transform social capital to financial independence through short videos in regional languages. We did not do a single lay off, and continue to strengthen the team with the right fits who share the same passion, ambition and motivation,” said Saxena. The company currently has 15-20 vacancies. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> Interested candidates can apply by writing to hr@boloindya.com Mitron TV The app which shot to fame even before TikTok was banned, is also aggressively hiring. The app’s co-founder Anish Khandelwal took to LinkedIn to share that the company is currently looking for android developers and backend developers with over two years experience. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> Interested candidates can apply by writing to career@mitron.tv Khabri Khabri helps users create podcasts and also caters to the Hindi-speaking market in India. The company said that it already had 40,000 influencers on the platform, and with the ban on TikTok it got 5000 new influencers in two days. The company is currently <a href="https://angel.co/company/khabriapp/jobs/671317-product-manager-growth">hiring </a>a product manager among other roles. Trell Another TikTok rival app in India – Trell has now crossed 45 million downloads with 5 million daily active users, claims the company. “We are very excited to see the regular developments on the platform and the increasing interest from users and content creators. With this opportunity, the Indian Internet startups can grow faster and build a superior experience for the consumers in the long run which was being capped by the established players earlier,” said Pulkit Agarwal, Co-Founder, Trell. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/therapy-and-mental-health-is-important-for-startup-founders-to-survive-the-near-death-moments-in-business/articleshow/76931948.cms">This Indian entrepreneur started going to therapy and recommends it to startup founders to survive the ‘near death’ moments in business</a> <a href="https://www.businessinsider.in/business/startups/news/zomato-journey-from-a-weekend-project-to-a-3-billion-company/articleshow/76901180.cms">Zomato turns 12 – from a weekend project to a $3 billion company, here’s the startup’s journey over the years</a>

From Chingari to Mitron TV – TikTok clone apps in India are now aggressively hiring to handle the user surge

<ul><li>Indian startups have already laid off over 6,000 employees in the last five months.</li><li>The layoff season is likely to continue in the coming months as investors get cautious.</li><li>So far companies like Ola, Unacademy, Vedantu have laid off over 3,600 employees this year.</li></ul>Indian startups have already laid off around 6,000 employees in the last five months. But this startup firing season will continue, according to several experts that Business Insider spoke to. Archit Garg, co-founder at Glamyo Health, pegs <keyword id="4234518" type="General" weightage="20" keywordseo="startup-layoffs" source="Orion">startup layoffs</keyword> at 10 times the current number at — 60,000. “Unfortunately there is more pain in the ecosystem and funding environment could take 6- 9 months to reverse, so chances are that the actual number will be 10 times of this as I expect there will be more negative news which we will hear about in the near future,” said Garg. Edtech employees could be the biggest victims as students are going back to schools. “With the significant crisis brewing in the Indian edtech sector, a lack of clarity in structure and processes comes as a blockage,” Naveen Jangir, co-founder of HRTech company Incluzon, said. So far companies like Ola, Unacademy, Vedantu have laid off over 3,600 employees this year, according to media reports as well as company’s announcements. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Layoffs </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ola </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,100 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unacademy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">925 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vedantu </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">624 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cars24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">600 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mfine </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">600 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Trell </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">300 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lido Learning </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">200 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Furlenco </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">200 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Meesho </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">150 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">OkCredit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5,739 </td></tr></tbody><tbody></tbody></table>Source: Company Announcements, Media Reports Read more: <a href="https://www.businessinsider.in/business/startups/news/the-worst-for-indian-startups-is-yet-to-come-be-prepared-for-layoffs-unicorn-slowdown-and-startup-shutdowns-in-2022/articleshow/91681195.cms">The worst for Indian startups is yet to come — be prepared for layoffs, unicorn slowdown and startup shutdowns in 2022</a> <cmsannotation type="cmsannotation" annotationid="Hired too, and now there will be much firing" comment="subhead" text="Hired too, and now there will be much firing">Hired too, and now there will be much firing</cmsannotation> Yogita Tulsiani, the managing director and cofounder at global tech-recruiter provider iXceed Solutions, noted that both low-funded and highly-funded startups would be impacted by this. Most companies hired aggressively during the start of the pandemic and are unable to handle it now. Each company has a long term plan and unprecedented scenarios such as the events happening now can impact their hiring and team sizes, said Sarbojit Mallick, co-founder of advanced hiring platform Instahyre. He noted that the plan would also include consolidation of internal departments, streamlining of operations and tightening of the gaps. Sujata Pawar, co-founder and CEO of menstrual care startup Avni, noted that startups that fail to manage their runway and carefully grow the business will be subjected to such layoffs. “As long as organisations are successful in adapting to the changing market dynamics, retaining talent won't be much of a hassle. In this new world, with the workforce ready to jump into multiple opportunities, consulting, contractual projects and more, these obstacles will not concern either employers or employees." Piyush Raj Akhouri, co-founder and business head at recruitment firm Bridgentech Consulting, said. <cmsannotation type="cmsannotation" annotationid="Startups will keep hiring too" comment="subhead" text="Startups will keep hiring too">Startups will keep hiring too</cmsannotation> Piyush Bhartiya, co-founder and CEO of AdmitKard — which helps with end-to-end career advisory startup for students studying abroad — highlighted that for every company that is laying off employees there are another 100 who are hiring. “Like I said, some companies are laying off, others like ours are hiring. I do not see that will impact the employment ratios too dramatically,” he added. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/vodafone-coal-india-bpcl-among-stocks-to-watch-out-for-on-may-26/slidelist/91801171.cms">Vodafone, Coal India, BPCL among stocks to watch out for on May 26 </a><a href="https://www.businessinsider.in/business/auto/news/vehicle-insurance-premiums-may-increase-from-april-2022/articleshow/90043466.cms" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/retail/news/biscuits-ghee-and-hair-oil-to-get-cheaper-after-government-duty-cut-but-after-three-months/articleshow/91784809.cms">Biscuits, ghee and hair oil to get cheaper after government duty cut — but after three months</a> <a href="https://www.businessinsider.in/stock-market/news/zomato-to-grasim-to-aditya-birla-capital-here-are-six-stocks-that-brokerages-say-you-should-buy/articleshow/91788937.cms">Zomato to Grasim to Aditya Birla Capital — here are six stocks that brokerages say you should buy</a>

It would be a long firing season for startups —  experts say 60,000 could lose their jobs

<ul><li><keyword id="982553" type="General" weightage="20" keywordseo="indian-startups" source="Orion">Indian startups</keyword> raised only $1.6 billion in April 2022, which is almost half of the capital raised last year in the same period.</li><li>VerSe Innovation — the parent company of Dailyhunt and Josh — raised the biggest funding round last month.</li><li>Indian startups are currently facing pressure from investors to focus on profitability, We Founders Circle’s Gaurav VK Singhvi added.</li></ul>Things are not as bright for the Indian startup ecosystem as they were last year. The segment which thrived during the pandemic is now facing the brunt of the Russia-Ukraine war, leading to a slowdown in their capital raising ability. According to the latest report by IVCA-EY, Indian startups raised only $1.6 billion in April 2022. This is almost half of the capital raised by the same ecosystem in April 2021. To make matters worse, no company entered the <keyword id="152045" type="General" weightage="20" keywordseo="unicorn" source="Orion">unicorn</keyword> club last month whereas April 2021 had flagged off the momentum of unicorn creation last year with eight new additions. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Month </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Number of Unicorns </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unicorns Created </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Meesho, PharmEasy, CRED, Groww, ShareChat, Gupshup, Chargebee, Urban Company, </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nil </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Media reports <cmsannotation type="cmsannotation" annotationid="Slowdown in unicorn creation" comment="subhead" text="Slowdown in unicorn creation">Slowdown in unicorn creation</cmsannotation> According to several experts Business Insider spoke to, the <a href="https://www.businessinsider.in/business/startups/news/he-slowdown-in-unicorn-creation-may-be-there-for-the-next-two-months-too/articleshow/91116175.cms">slowdown in unicorn creation </a>is likely to continue all through the second quarter till June 2022 but this is not something to worry about. Gaurav VK Singhvi, cofounder of investment firm We Founder Circle, further explained that the startup market has been witnessing an upward trend for the last 18 months and “now for a few months it looks a little slow”. He also specified that the trend would be quite positive in the long term and more unicorns may be created this year. But there is more to it than just the number of unicorns. <cmsannotation type="cmsannotation" annotationid="Even higher valuation may be an issue" comment="subhead" text="Even higher valuation may be an issue">Even higher valuation may be an issue</cmsannotation> The decline in funding in April 2022 is majorly because of the decline in large funding rounds. VerSe Innovation — the parent company of Dailyhunt and Josh — raised the biggest funding round last month when it bagged $805 million at a<a href="https://www.businessinsider.in/business/startups/news/josh-dailyhunt-parent-company-verse-raises-805-million-takes-valuation-to-5-billion/articleshow/90675633.cms"> valuation of $5 billion</a>. This represented nearly half of the capital raised by Indian startups in April. While Dailyhunt has been able to increase its valuation amid this funding slump, not all have been able to do so. According to Media reports, ecommerce company Meesho has been trying to close another funding round at a valuation of around <a href="https://timesofindia.indiatimes.com/business/india-business/meesho-to-raise-1bn-at-valuation-of-8bn/articleshow/87859070.cms">$8 billion</a> but no investor is willing to accord it to the company at the moment. Instead, the investors are unwilling to accord any higher valuation to Meesho — which was valued at $4.9 billion last year — due to its monthly cash burn rate of $46 million. Singhvi of We Founder Circle explained that several startups have ignored their bottom line for a long time and the investors are now putting pressure on these companies to focus on their finances and numbers. “Revenue is all good but now they are looking at profitability and long term sustenance,” he added. <cmsannotation type="cmsannotation" annotationid="Layoffs come off as a rescue plan for several startups" comment="subhead" text="Layoffs come off as a rescue plan for several startups">Layoffs come off as a rescue plan for several startups</cmsannotation> Several companies have already started preparing for the worse. According to Business Insider’s calculations, Indian startups laid off<a href="https://www.businessinsider.in/business/startups/news/indian-startups-have-already-laid-off-over-5700-employees-in-the-last-four-months/slidelist/90980198.cms"> 6,900 employees</a> in the first four months of 2022. In May alone, unicorns like Vedantu and <a href="https://www.businessinsider.in/india/news/cars24-is-the-latest-unicorn-to-lay-off-600-employees-after-unacademy-and-vedantu/articleshow/91660002.cms">Cars24 fired over</a> 1,200 employees. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Layoff </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Better.com </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ola </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,100 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unacademy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">925 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vedantu </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">624 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cars24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">600 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Trell </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">300 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lido Learning </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">200 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Furlenco </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">200 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Meesho </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">150 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">OkCredit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8,139 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Media Reports, Company Announcements Vamsi Krishna, chief executive officer and co-founder of Vedantu, in a<a href="https://www.businessinsider.in/business/startups/news/after-unacademy-vedantu-has-laid-off-600-people/articleshow/91643403.cms?utm_source=google_newsstand&amp;utm_medium=google_rssfeed&amp;utm_campaign=news_referral"> blog post noted </a>that they had to take this harsh decision since capital may be scarce in the upcoming quarters due to “war in Europe, impending recession fears, and Fed rate interest hikes”. Yogita Tulsiani of iXceed Solutions and Sarbojit Mallick of Instahyre emphasised that there are more layoffs to come in the near future. Tulsiani, the managing director and cofounder at global tech-recruiter provider iXceed Solutions, noted that both low-funded and highly-funded startups would be impacted by this drive as most companies carried out aggressive hiring drives during the start of the pandemic and are not able to handle their workforce now. Each company has a long term plan and unprecedented scenarios such as the events happening now can impact their hiring and team sizes, Sarbojit Mallick, cofounder of advanced hiring platform Instahyre, added. He noted that the plan would also include consolidation of internal departments, streamlining of operations and tightening of the gaps. “The fear [for the workforce] is further mounted by rationalisation in funding which will weed out quality companies and hence lead to winding up of some startups,” Neha Khanna, director at management consultancy firm ValPro, concluded. SEE ALSO <a href="https://www.businessinsider.in/business/news/heatwave-has-turned-acs-from-a-luxury-to-a-necessity-but-margins-remain-muted-for-the-players/articleshow/91655568.cms">Heatwave has turned ACs from a luxury to a necessity — but margins remain muted for the players</a> <a href="https://www.businessinsider.in/tech/news/the-state-of-uttar-pradesh-and-how-its-been-feeding-facebook-ad-revenues/articleshow/91660700.cms">The state of Uttar Pradesh and how it’s been feeding Facebook ad revenues</a> <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/prudent-corporate-advisory-services-surprises-ipo-investors-with-nearly-5-listing-gains/articleshow/91678900.cms">Prudent Corporate Advisory Services surprises IPO investors with nearly 5% listing gains</a>

The worst for Indian startups is yet to come — be prepared for layoffs, unicorn slowdown and startup shutdowns in 2022

11,000 and counting — that’s how bad startup job losses are after Ola, Byju’s & 22 others cut costs

More than 32,000 tech workers have been laid off in the US till July this year, including at Big Tech companies like <keyword id="10387" type="General" weightage="80" keywordseo="microsoft" source="Orion">Microsoft</keyword> and <keyword id="399907" type="General" weightage="80" keywordseo="meta" source="Orion">Meta</keyword> (formerly Facebook) and the worst has not been over yet for the tech sector that has seen massive stock sell-off. According to the data compiled by Crunchbase, more than 32,000 workers in the US tech sector have been laid off in mass job cuts, as of late July. "We've included both startups and publicly traded companies that are based in the US. We've also included companies based elsewhere that have a sizable team in the United States, such as Klarna," the analysis said. The layoff includes ride-sharing platform Uber, <keyword id="128682" type="General" weightage="80" keywordseo="netflix" source="Orion">Netflix</keyword> and several cryptocurrency exchanges and lending platforms. Robinhood, <keyword id="4522875" type="General" weightage="80" keywordseo="glossier" source="Orion">Glossier</keyword> and Better are just a few of the tech companies that have trimmed their headcount this year. Since April 1 this year, more than 43,000 workers from 342 tech companies/startups have been laid off across the world and over 13 per cent are from <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>, according to latest data compiled by layoffs.fyi, a website that tracks layoffs in startups. In India, more than 25,000 startup workers have lost jobs since the pandemic began -- and more than 11,500 have been fired this year. The layoffs in India are dominated by edtech platforms like Unacademy (1,150 employees), BYJU'S (550 at Toppr and <keyword id="8080458" type="General" weightage="80" keywordseo="whitehat-jr" source="Orion">Whitehat Jr</keyword>) and <keyword id="2016957" type="General" weightage="80" keywordseo="vedantu" source="Orion">Vedantu</keyword> (624), along with ride-hailing platform <keyword id="6354720" type="General" weightage="80" keywordseo="ola" source="Orion">Ola</keyword> (nearly 500), healthcare startup MFine (600) and pre-owned cars platform Cars24 (600), among others. The other Indian startups and unicorns that have laid off employees are Meesho, MPL, Trell and Blinkit (now owned by <keyword id="830092" type="General" weightage="80" keywordseo="zomato" source="Orion">Zomato</keyword>), among others. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/amazon-great-freedom-festival-date-announced-sale-starts-august-6-onwards/articleshow/93268050.cms">Amazon Great Freedom Festival date announced - sale starts August 6 onwards</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/swine-flu-resurfaces-in-keralas-wayanad-first-time-in-kannur/articleshow/93267832.cms">Swine flu resurfaces in Kerala's Wayanad, first time in Kannur</a>

Over 32K tech workers fired in US, more than 11K in India this year

Another <keyword id="1464841" type="General" weightage="80" keywordseo="edtech" source="Orion">edtech</keyword> startup <keyword id="4248184" type="General" weightage="100" keywordseo="udayy" source="Orion">Udayy</keyword>, backed by <keyword id="80004" type="General" weightage="50" keywordseo="info-edge" source="Orion">Info Edge</keyword>, has shut shop, laying off all 100 employees as schools, colleges and physical tuition centres reopen. Udayy's co-founder <keyword id="6553566" type="General" weightage="50" keywordseo="saumya-yadav" source="Orion">Saumya Yadav</keyword> said that the startup was witnessing the post-pandemic world for the first time as "as the kids went back to school, we faced roadblocks in growing the original model of online, live learning". "After a lot of deliberation, we decided that it's better to shut down the business than to spend more time and capital on it,a Yadav said. The development was first reported by startup news coverage portal Entrackr. The startup has paid employees severance packages and helped them find new jobs. "We are returning the remaining capital, around $8.5 million back to our investors," Yadav was quoted as saying in media reports. The live-learning platform catered to students from Grades 1 to 5. The platform raised $2.5 million in a seed funding round led by Alpha Wave Incubation (AWI), managed by <keyword id="4675626" type="General" weightage="50" keywordseo="falcon-edge-capital" source="Orion">Falcon Edge Capital</keyword> and <keyword id="12772224" type="General" weightage="50" keywordseo="infoedge-ventures" source="Orion">InfoEdge Ventures</keyword>. Udayy is the second edtech startup after Lido Learning to completely shut operations. Led by the edtech platforms, over 8,000 start-up employees have been recently hit by layoffs In India. This includes more than 1,000 employees at WhiteHat Jr, over 600 at Unacademy, over 424 at Vedantu and over 150 at Lido Learning. Another edtech firm FrontRow laid off nearly 150 full-time and contractual employees earlier this week. The Bengaluru-based non-academic upskilling startup fired almost 30 per cent of its workforce, owing to fund crunch and the market downturn. Apart from edtech firms, startups that have laid off employees in the past few months include social commerce platforms Trell (more than 300) and Meesho (150), used cars platform Cars24 (More than 600) and digital health platform Mfine (more than 500), among others.

Edtech startup 'Udayy' lays off all 100 employees as schools, and colleges physically reopen

<ul><li>If the pandemic has brought one certain change in the consumer mindsets, it is the move towards personal hygiene and wellness.</li><li>On the back of e-commerce and growing awareness about wellness, the men’s grooming category has seen unprecedented growth in the last few years.</li><li>To further build this category, <keyword id="3508584" type="General" weightage="20" keywordseo="the-man-company" source="Orion">The Man Company</keyword> has launched <keyword id="13237965" type="General" weightage="20" keywordseo="MinStrips" source="Orion">MinStrips</keyword>, rapid dissolving tongue vitamin strips.</li><li><keyword id="674163" type="General" weightage="20" keywordseo="Hitesh-Dhingra" source="Orion">Hitesh Dhingra</keyword>, Founder, The Man Company talks to us about the brand’s forays into the well-being category, brand strategy and growth vision for MinStrips, consumer insights and preferences that led to the innovation and larger vision.</li></ul>Around a decade ago, the male grooming industry was almost non-existent in our country. India only had razors, shaving cream and after-shave lotions for men and those who did care about their skin underneath their beards or mustaches, would quietly use the products available for women. India’s men’s grooming market, thankfully, has come a long way in the last few years, moving beyond shaving and deodorant products. This space has also attracted large FMCG brands such as Reckitt, which invested about Rs 45 crore in the Bombay Shaving Company. Meanwhile, Marico acquired Beardo and Emami increased its stake in The Man Company last year. These marketers have been redefining masculinity, self-expression and grooming through their campaigns. Hitesh Dhingra, Founder, The Man Company says that the segment has evolved and it is no more just beard or face that men care about, they are today giving equal importance to holistic grooming and wellness. With a push from e-commerce, the grooming industry has already expanded its reach beyond urban markets, witnessing an uptick from Tier II and III cities. According to Research and Markets, India's male grooming industry is poised to reach $1.2 billion by 2024 at a CAGR of about 11% and globally, as per a Statista report, the grooming market is projected to reach around USD 81.2 billion by 2024. Now, to further build this category, The Man Company is entering a new segment: nutraceuticals. It has forayed into the well-being category with the launch of MinStrips, rapid dissolving tongue vitamin strips. Dhingra speaks to Advertising and Media Insider about the company’s foray into well-being, category trends we can expect this year, key focus areas and revenue goals for the coming fiscal. Q. What was the thought and idea behind foraying into the well-being category? We started our journey as an essentially grooming brand to help men on their continuous evolution. We have strived to build trust among our customers all these years by formulating purest and finest quality products for their overall grooming under skin, hair, and body care. Considering the need of the hour and being one of the leading brands for men’s grooming products, we wanted to move the needle following a 360-degree approach to enable a better lifestyle for men. The idea is to take a holistic approach from external to internal grooming. Therefore, we forayed into the wellness category and launched our sub-brand ‘MINS’. As a brand, we have been synonymous with innovations. It is in our DNA. So, this time, we wanted to launch products that are on the go, effective, easy yet safe, something with which Gen Z could quickly resonate. After 2.5 years of thorough R&amp;D, we added MINS to our product portfolio. MinStrips are orally dissolving strips that help people tackle all the lifestyle hurdles. Needless to say, most millennials and Gen Z have a fast-paced and hectic lifecycle. This automatically raises concerns about sleep, stress and anxiety due to work pressure, better hair and skin (which is already our forte), performance and sexual wellness. We are addressing all these issues with our latest innovation, MINS. Q. MinStrips is quite an interesting product. What inspired you to launch it? The nutraceutical industry in India is witnessing a CAGR of 21% this year. There are substantial untapped market opportunities out there. We can also see an aversion amongst millennials and Gen Z from consuming capsules, powders, gummies and tablets. The reason is that there is still a taboo attached to nutraceuticals being challenging to consume or travel with as they are somewhat dependent on factors like water intake. In contrast, MinStrips are self-dissolvable oral strips. Users simply need to keep it on their tongue, and the process is done, they can have their daily dose of Vitamin with utmost convenience. Additionally, MinStrips come with sleek packaging in a travel-friendly format. The entire concept of effective and easy-to-use makes it an exciting product, especially for our young consumer base. Furthermore, as per our research, strips have 80% active ingredients compared to gummies (30%), capsules (20%) and tablets (10%). This also makes MinStrips a highly accurate, elevated absorption and quick action product compared to other formats. Q. Also, these are rapid dissolving tongue vitamin strips, what was the product insight there? You chose not to go with regular vitamin supplements, so what led to this innovation? We didn't start making MinStrips just now. We have been doing our research since the pandemic was in its initial stage. During our research, we identified some key problems like modern consumers didn't want to take daily capsules, tablets, or powder content. They also want more affordable, hassle-free and convenient Vitamin supplements. So, we decided to launch MINS, a unique Vitamin supplement format accompanied by added benefits. MinStrips are made with 100% natural ingredients. They are vegan and free from any chemicals, sugar and side effects. One of the USPs of the product is that these are non-habit forming which makes them safe and easy to consume. We have also gained lab certificates from leading laboratories like GMP Laboratories, HACCP, ISO Certification, and FDA to attest to our claim. Q. How would you spread the word? What is your marketing and distribution strategy? We have garnered a huge and loyal community in the last six years of The Man Company's journey. Today, we have 0.8M followers across Social Media and a consumer base of 2M. This community comprises progressive and like-minded gentlemen. As our initial marketing and distribution strategy, we will leverage our existing consumers to spread the word through various media and also by sampling. We will also collaborate with influencers and content creators to spread word of mouth through their individual experiences. Furthermore, in terms of distribution, apart from our robust e-commerce platform and marketplaces, we also have around 2000 offline touchpoints through Modern Trade and Exclusive Brand Outlets. MINS will be ready to avail on all of these platforms. Q. What is your marketing budget earmarked for this year? 35% of our revenue is to be invested in marketing. Q. How has the company and brands’ communication evolved over the duration of the pandemic? During the pandemic, ‘immunity’ became the buzzword and the need of the hour, which made the wellness industry boom. Therefore, we feel this is the right time to enter the market and create a dent. For The Man Company, these last years have turned out to be propitious. We engaged with our customers to practise self-love, which made ‘The Man Company’ a household name among men embarking on their grooming journey. Since salons and parlours were shut down, we introduced DIY products for face, hair, beard and foot care that were easy to follow while working from home. Q. What does your media strategy look like? Which medium gets your lion's share? By DNA, we are a digital-first company. We function in full swing on the back of Social Media marketing and content creators. Content creators lead social media, and we believe influencers can be our ambassadors. Moreover, since we are a lifestyle brand, we are very focused on UGCs. We are currently on the lookout for going regional and trying to speak in the way and language that our consumers speak across the country. We believe that we should not merely translate the communication but trans-create it. Simultaneously, we are also gearing up to foray to other novel platforms and formats shortly. Q. As you build the men's wellness industry in India, what are some of the trends that you are expecting to see? How has consumer behaviour changed after the pandemic in this category? The pandemic inadvertently forced people to become more aware of their immunity strength and hygiene factors. Given that, consumers, in our case men, started to talk about personal care, hygiene and grooming became an escalating point for the tremendous growth of the wellness industry. During the pandemic hours, since everyone was working from home and salons were closed indefinitely, home-care and DIYs became the need of the hour. To assist our customers, we also came up with easy-to-use products that do not need experts, but consumers can use them in the comfort and safety of their homes. In the post-pandemic era, we believe consumers will continue to pay special attention to their personal care and grooming regime. The trend to use chemical and cruelty-free products will continue to gain strength, and consumers will incline towards affordable and effective product lines. Q. What are some of the challenges in this category? The biggest challenge is that consuming nutraceuticals is still considered taboo. More acceptance through education and workshops is required. Most importantly, wellness products should be safe to consume, which is why we have gotten MinStrips certified by several leading laboratories. Considering consumers today are busy with their fast-moving routines, we wanted to make MinStrips-brought wellness a part of the daily schedule. It wasn't easy to come up with an unprecedented idea. Still, we wanted to bring a hassle-free and affordable Vitamin and wellness booster with an 'On the Go' convenience for our customers. And, we are glad to say that we succeeded in our endeavour. Q. The notion of toxic masculinity has forced men to ignore themselves. It judges men who take care of their health and skin. Do you think that notion is changing in India? Are men more open to this change? Be it through our products or campaigns, The Man Company believes in bringing out the 'Gentleman In You'. Since inception, we have witnessed a gradual change in the way men perceive themselves. Social media, movies, web series have spoken about this change for quite some time now. We also feel that India has been exponentially evolving in terms of mindset. Grooming has become an aspiration. It's no more just beard or face that men care about, but modern gentlemen are focusing on holistic grooming and wellness. We have garnered considerable traction from tier-II and tier-III cities, proving that men's grooming is witnessing a notable uptick. The Man Company has worked as a catalyst to bring in this change through various campaigns like #GentlemanTumhiTohho, #ScentOfAGentleman and Gentleman Kise Kehte hai. We'll continue to assist the journey of 21st-century gentlemen. Q. Which are your strongest markets? Are you looking at expanding your business further this year? We cater to all gentlemen irrespective of education, sexuality, religion, job profile, or age, but prominently, we struck chords with millennials and Gen Z clientele. Our target group is every gentleman who is real, modern, authentic, progressive and self-aware. During our growth journey, we realised that tier-II and tier-III cities have issues related to affordability and awareness related to men's grooming and personal care. So, we decided to start our e-business operations in these cities. Considering that we are launching a sub-brand (MINS) and a new product (MinStrips) in the new year, we are sure this year will end on a high note. Q. What are some of your focus areas for this year? From a brand perspective, we are focusing on thought-provoking leadership. We want to create a strong brand presence across the country and make The Man Company a household name even in the most remote locations. For the coming months, we are gearing up to collaborate with platforms like Cred, Trell, etc. to fortify our sales. We are also working on IPs, such as the Hall of Gentlemen, to celebrate gentlemen bringing selfless change to society. Apart from this, several other exciting IPs are in the pipeline that resonate with our core communication to bring out the #GentlemanInYou. We don't want to be a brand that does tokenism. Our goal is to become a catalyst in changing the mindset of men everywhere. Q. You are all set to double your sales to Rs 100 crores by the end of this fiscal. How are you planning on sustaining this growth this year? What are your revenue goals for FY23? We will be pushing content like never before and expanding our offline presence aggressively. In terms of MT and EBO presence, we'll ensure maximum outreach. We are also launching various interesting categories, starting with MINS and expanding existing categories with exciting and innovative products. In addition, recently, we have also launched our loyalty program called The Man Club for our community. The Man Company is expecting to touch Rs 225 crore revenue in the coming fiscal.

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