B2B network Anar shuts down
They were backed by Elevation and Accel, had raised ~$7mn Seems like getting transactions to happen was too tough, despite building a network. Getting money out of Indian SMBs, a consistently tough model.
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Did the right thing 🫡
Acknowledging that things aren’t working and returning capital is always the right thing to do. And it takes lots of guts.
You can still pivot with capital. But it’s like you’re forcefully doing it if your heart isn’t at the right place
Last time I met him, he was far too bullish on this. Speaking literally of complete domination in the consumer tech space.
Building a startup is tough....#Respect
I am one of the worst critics of what he was building but props to the man.
Starting anything meaningful is hard and executing is even harder, so respect 🫡
Had an interview with the engineering head last year. All questions were asked on scaling, how to decrease time of APIs . Not a standard question very tough questions and not satisfied with any answer.
I feel sad for him. Had an offer from them, but decided not to accept it.
Well written post from him
They were also paying very well. PM were getting 70lakh ctc
Feeling bad for the team now.
So long Anar. You had a good run, numbers are astonishing
Business onboarded: 1.5 million; Sellers: 450k, Buyers: 1.1 million