Have you ever heard how the PR folks are excellent spin doctors, this is precisely the story of Zoomo. The PR guys made martyrs out of a suicidal group.
In India, they wanted to create a platform for used car sales. Selling used cars is probably a staple business in most countries. You have to have really poor business acumen to not be able to sell used cars. Hell, if Olx can have used underwear being sold on their website, used cars should be a cinch.
Instead, the protagonists here failed to find sufficient traction and returned the money to the VC fund. Good for the fund. Bad for entrepreneurship.
The fundamental tenet of entrepreneurship is to keep trying. No company would have ever pivoted, had they given up and returned the money because ‘data did not support them’.
These guys built something, expected it to be a walk in the park, which it was not. They gave up.
This kind of entrepreneurship should not be idolized.
They gave up!
Don’t. Keep trying.