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Indian startup boards have been repeatedly caught sleeping on the job in the face of irregularities, weak processes and unethical practices. A number of factors—ranging from emotion to self-interest—are to blame.
The digital media company appears to have quietly changed its strategy, after the failure of its short-video platform Josh and amid a rush to get to a public listing.
Pivoting away from social commerce and fraud allegations against founders have jeopardized the short-video app. Its latest financials bear testimony to the grim state of affairs.