A public feud between founders and investors, flurry of news on alleged financial irregularities, the script sounds familiar to BharatPe but the cast is different. This startup 'scoop' features Bengaluru-based social commerce platform Trell and the lead role is co-founder Puklit Agarwal instead of shark tank celebrity Ashneer Grover.
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Telling the tales around Trell
Trell has been in the news as it is reportedly undergoing an internal investigation for alleged party-related transactions and financial irregularities.
According to reports, an audit by EY last week found financial irregularities by the founders. This pulled the plug on funding plans, pushing the company to cut costs and lay off half of its workforce.
The Feud & The Deadline
Trell cofounder Pulkit Agarwal has reportedly sent a note to all investors, questioning the forensic audit alleging it is being conducted by cohort of select financial backers - not by the company or its board.
Agarwal has put investors on a timeline to identify himself/herself within ‘a few hours’ as to who told the media about the audit which is claims is just internal clarifications not an 'audit' as is being portrayed by the media.
The Startup story
Founded by Arun Lodhi, Sachan, Pulkit Agrawal, and Rebba, Trell offers a mobile app that lets users make and share three-minute videos around their interests and passions, in categories such as beauty, recipes, fashion, personal care, technology and gadgets, movies and TV reviews.