This startup’s recent funding round announcement received mixed responses. While many were sceptical about the round, valuation and the investors who came in, one investment banker was thrilled. “Quite a coup. Hum sab ki naukri bach gayee (our jobs are safe),” he is said to have quipped. Considering all the controversies dogging this startup, he said most expected it to implode, taking down the entire Indian ecosystem with it. But if investors are willing to throw more money at it, it’s a sign that other startups in the same sector have a fighting chance for survival, and fund raising. Don’t underestimate the power of herd mentality!
