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.
A promising start ending in a total fiasco. All in a matter of eight years. That’s Trell. And if its latest financials are anything to go by, the death knell has mostly been sounded for the short-video company.
For the year ended 31 March 2023, the Bengaluru-based firm saw its revenue drop a whopping 94% from the previous fiscal, alongside a loss of Rs 58.6 crore, as against Rs 268.3 crore in 2021-22. It was able to cut down its losses only after laying off hundreds of employees and curbing marketing expenses.
That’s a complete reversal of fortune for a …
Anuj covered all things startups and venture capital at The Morning Context. Previously, he worked at VCCircle, where he covered healthcare and private equity. Anuj studied mass communication at the Manipal Institute of Communication and before journalism, he operated a bar in Udupi.
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Bengaluru