Startups, mainly online or eCommerce, have been a buzz word for the last many years. Many of them got record investments like Flipkart, Snapdeal, Paytm and so on but the pertinent question is would they be able to break even ever. The weaknesses were already showing with many of them closing down as not able to sustain beyond discounts.
Recently in news have been 30 companies that includes 28 startups for not able to live up to the Campus Placement Commitments, which has made IIT placement committee to take stringent action against them by banning them for one year and shaming them by making the names public. As per the committee’s statement a strong message needs to go around as Future of the students is at stake, the measure has been applauded as this situation really called for extraordinary measure. Rightly, those students who took offers from these companies, surely would have given up on other second offers and now may not be able to locate another job instantly.
The following startups have been blacklisted over placement related complaints by IIT Placement Committee for reasons of delays to revoking of offers from students:
- GPSK – for revoking offers
- Johnson Electric – for revoking offers (www.johnsonelectric.com)
- Portea Medical – for revoking offers (www.portea.com)
- Peppertap – for revoking offers (www.peppertap.com)
PepperTap had raise $50 million in capital from various investors, announced in April 2016 about it’s shutting down of operations due to lack of demand. Read about the PepperTap on YourStory.com.
- Cashcare Technologies – for revoking offers (www.cashcare.in)
- LexInnova – delaying joining dates (www.lex-innova.com)
- IndusInsight – delaying joining dates (www.indusinsights.com)
- LeGarde Burnett Group – for revoking and also no proper address provided (www.legardeburnett.com)
- Mera Hunar – Recruited for different startup (www.merahunar.com)
- SmartTrak Solar Systems
- Crayon Data India
- Glow Homes technologies
- Tescra Software (Rockon)
- Tenova India
- Verity Knowledge Solutions
- Excelence tech
- Fundamental Education
11 more startup companies, whose names have not been made public, have been warned as well, that includes Flipkart as per Economic Times report !