Can’t say I am sad for Travly. I am not even mildly shocked. What happened was inevitable. The startup never had a business model. And when they finally had, they were competing against Uber and Careem. Like all things Travly though, it’s not what happened. It’s how it happened is causing a stir inside me. TechJuice has a nice scoop which I would encourage you to read. But this little nugget from their investor is defining.
Travly’s co-founders are bright young boys but due to lack of experience and maturity, the startup couldn’t execute and meet its own setup conservative projections.
The statement shows something was not going right between the team and investors. Statement from Shahmir in the same article shows the angst from his side too. It’s one thing to have these differences. It’s totally different to show them in public. Investors need to realize that they are in VC business. And that implies huge risks. Besides 200K is not that much of an amount anyway.
Shahmir should have been careful while sharing his feelings. It’s ok to share differences but only within a wider context. And not because you need to respond to an investor’s statement which clearly seems like the case here.