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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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