The visa service provider is under fire for its vaguely worded charges, fake reviews and poor customer support.
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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.
A premium offering from India’s largest airline has not evoked the expected response from flyers and just goes to show that breaking away from its low-cost DNA isn’t easy.
The fund seems convinced that technology-led businesses in India are overvalued and not good for making big exits. Instead, what is needed to return large sums of capital are investments in mature companies with a proven track record.