eFishery fiasco has ripples in India

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Gibran Huzaifah, the founder-CEO of Indonesian unicorn eFishery who was ousted for financial misstatement, during his India visit last year; image credit: LinkedIn

Synopsis

The Indonesian unicorn, which is in the eye of a storm for massively inflated revenue and profit numbers, has an India presence, and a venture capital link with the local startup ecosystem.

The staggering misstatement of financials at Indonesian unicorn eFishery has sent shock waves not just in the southeast Asian startup ecosystem but also in India. The USD1.4 billion-valued…



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eFishery fiasco has ripples in India


Gibran Huzaifah, the founder-CEO of Indonesian unicorn eFishery who was ousted for financial misstatement, during his India visit last year; image credit: LinkedIn

Synopsis

The Indonesian unicorn, which is in the eye of a storm for massively inflated revenue and profit numbers, has an India presence, and a venture capital link with the local startup ecosystem.

The staggering misstatement of financials at Indonesian unicorn eFishery has sent shock waves not just in the southeast Asian startup ecosystem but also in India. The USD1.4 billion-valued…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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