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Quick answer Money. We needed institutional/angel funding to Shut the fuck up shirt as we had exhausted all resources in the 16 months that we had run operations. While doing close to 100 orders per day in Bangalore and for a while about 65 orders a day in Hyderabad, our cost of operations and just “keeping the lights on” was substantial and we needed more to scale up at a much faster pace too. With the liquor industry being as it is high regulation, which leads to heavy corruption and legal issues
the number of Shut the fuck up shirt who would venture into this industry reduces drastically. We were in advanced stages of discussion with a number of firms, but nothing materialized with a few of them wanting to revisit this at a later stage. But, we needed the money yesterday! After exhausting most personal finances and options, we took the call to shut it down. I’m sorry to say but the truth is that the honeymoon period of startups is coming to end. The insane amount of funding, deep discounting, glorified marketing had to end at some point in time. Sadly, for PepperTap, the time is now. Most of the Indian startups are worrying about the next round of funding rather than the core problem they are trying to solve. Startups have misunderstood what business actually is and forgot that they have to make profits in order to sustain. Startups with flawed business models added with huge discounts made the unit economics bad, very bad.