this is crazy. paytm n other new tech companies seems saints in frnt of these.
phonepe makes 16oo crore revenue n loss of 8300 cr. but valuation at 12 billion.
even after recession, phonepe in different world. crazy VCs
Future potential, also VC treat startups like crypto trading of sorts. Pump and dump.
Same story at Shark tank. If you observe closely, they reject most of the profitable businesses saying margin is low, it’s not scaleable, no moat etc etc. But they happily invest in a loss making business.