Debt, losses and poor cash flow are just some of the problems in OYO’s balance sheet and business model as it prepares for an IPO.
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It is becoming increasingly clear that the startup ecosystem is stuck with building for the top 3% of Indian society. Now consumption in even this rarefied segment is under pressure.
Last valued at upwards of $2 billion, the beauty and home services business gearing up for an IPO is too small and too susceptible to market challenges. Its draft papers are worth a look.
The quick-commerce platform has slowed down dark store expansion. Instead, it's focusing on profitability by adding more categories and going deep in existing cities.