QuirkyPotato
QuirkyPotato

Eloelo is probably a scam

Today raised $22m series B.

No revenue.

Video streaming app with Less than 1m daily users in india is valued over $100m... So every random person in india is worth over $100? Lol.

Competition, Chingari, Rooter, both in trouble. Eloelo has worse engagement than both (I looked on data.ai)

Definitely faking numbers to investors, why else would anyone invest.

20mo ago
Talking product sense with Ridhi
9 min AI interview5 questions
Round 1 by Grapevine
DizzyLlama
DizzyLlama
Google20mo

bhai data.ai ka subscription hai kya? can share? but good insights I was also wondering about the fund raise

QuirkyPotato
QuirkyPotato

Sorry I also use my friends account ๐Ÿ˜ญ

QuirkyPotato
QuirkyPotato
Meesho20mo

Data.ai doesnโ€™t have accurate data for most of the startups

ZestyQuokka
ZestyQuokka
Hinge20mo

Can they just fake numbers? Don't investors check before?

QuirkyPotato
QuirkyPotato

Simple. ignore all the bad user data, only show the good data.

Definition of "new signups" will be someone who has used the app for 1h+

They will say new sign ups all engage a lot. Will be true because they ignored data of everyone who left after 1h.

VCs do not check this.

GoofyDonut
GoofyDonut

Forbes 30u30 founders: hold my boba

JumpyUnicorn
JumpyUnicorn
Loco20mo

How is Loco, Rooter which almost in similar space but into gaming ?

PerkyBiscuit
PerkyBiscuit

Early days for this space I guess. Eloelo, Loco, Rooter are all doing public livestreams around games and chatting which is a new space.
Of the 3, Eloelo looks interesting n different from a PM pov. But good to see consumer tech startups raise capital.

QuirkyPotato
QuirkyPotato

We don't need another fraud in consumer tech, it's not helping anything.

It's like saying gomechanic funding was a good thing for their industry.

tbh don't care about the product, the numbers speak for themselves.

ZippyNarwhal
ZippyNarwhal

The Founder himself has a dubious past. Not someone you can trust even Rs.100 with, let alone โ‚น180 crores+

SqueakyPickle
SqueakyPickle

Like what?

QuirkyPotato
QuirkyPotato

The founder announced the series B on LinkedIn like "this is the best day of my life"

At least thank your team first asshole

JazzyWaffle
JazzyWaffle

"New form of entertainment", "livestreaming". Everyone knows what this is.

GoofyHamster
GoofyHamster
Swiggy20mo

So many of these apps literally survive on soft porn, I wonder how long do they think this strategy would be successful?

And even more surprised at investors, it literally takes one to sign up and open the app to see what's up ๐Ÿค”

ZippyMochi
ZippyMochi

I was also surprised to see the news. Haven't even heard of it except maybe once. Concept might have sounded interesting few years ago but definitely not right now in this market.

Sounds like a scam to me.

SleepyNarwhal
SleepyNarwhal

Like Indian version of twitch?

ZippyNarwhal
ZippyNarwhal

I will agree on this. Know someone internally in Product and said the numbers have been sugar coated.

QuirkyWaffle
QuirkyWaffle
Student20mo

Engagement is a problem and EloElo woulf always have problem in mometisation - discovery for ecom products at scale for T2 is hard to archieve with good margins

CosmicLlama
CosmicLlama

yup.. chitfund business of the HNI... too bad, they cant even cry publicly... Am so happy.. They can be screwed. They can afford it.

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