Out to list. Pine Labs is a hardware business pretending to be a fintech. Pine Labs was injected with vast amounts of VC money. The hope was that the hardware would trade for higher multiples. The core of the company is its POS machines. Pine Labs has a strong core of large retail chains. The company is trying to grow with new products and in new regions.
JSW, Tata, Birla’s entry into B2B e-commerce augurs poorly for Infra.Market, OfBusiness. For almost a decade, B2B e-commerce has been the domain of startups like Infra.Market and OfBusiness. Now, conglomerates like Tata, JSW, and Aditya Birla Group have launched their own marketplaces. The big manufacturers launching their own shop fronts are turning rivals for Infra.Market and OfBusiness.
The article asks why so many OfBusiness employees run other companies. It focuses on three companies, Zarielle Projects and Services LLP, Lendcierge Estate Pvt. Ltd, and Strike Infracon LLP, with links to employees. The existence of these related entities raises questions about whether they are used to overcount revenue or as a way to avoid or save on Goods and Services Tax (GST). This corporate structure is also linked to the company’s credit business.
