Back to feeds
Jayant Mundhra
•
Dexter Capital Advisors • 1m
I fear we have another Byju's like disaster in The Good Glamm Group. So many similarities, it’s worrisome 🙏🙏 TGGG, much like Byju's, has seen a high-profile exodus of the three largest investors as board members, signalling deep distress and mistrust within the company's governance structure. -> Plus, like Byju’s in those troubled days, TGGG is also in a desperate hunt for investors or buyers for its multiple businesses to raise money -> In fact, as Byju’s did, TGGG has also publicly announced that it’s almost sealed a deal even though things are yet to happen in real, if at all Like Byju’s in this course, it has delayed salaries for many, laid off many already in silence, and moved many to work from home because it’s easier to lay off more people that way. .. And parallels don’t end there 🙏🙏 Like at Byju’s, after the three biggest investors quit the board, the board is now all about the founder (Darpan Sanghvi) and his family members. The business strategy was also similar: Acquiring numerous companies to build an empire and raise money. We are now left in a state where the founders of multiple acquired companies under TGGG are still awaiting full payment for their stakes. Also, like Byju’s has left countless lenders, vendors, employees and students who did not get their money, the situation at TGGG is ditto same. .. Plus, think of the other casualty in this game. There are so many brands which Darpan Sanghvi acquired in his spree, which would have now been doing superb on their own. The Moms Co. Sirona. ScoopWhoop. Organic Harvest. And more. That is years of work by so many which has unfortunately been relegated. And that again is same as what played out with so many companies which Byju’s acquired and finished 🙏🙏 Thus, too many sad parallels. ..
Replies (4)
More like this
Recommendations from Medial
Download the medial app to read full posts, comements and news.