eFishery

How it happened

eFishery sold automated fish and shrimp feeders to Indonesian farmers, reaching a $1.4B valuation in a 2023 round backed by SoftBank, Temasek and Sequoia India. A forensic review found over 75% of reported figures were fabricated, with real revenue a fraction of the $752M claimed; founders were removed in December 2024 and investors faced near-total losses. The trouble showed from inside well before the headlines — Glassdoor reviews from mid-2024 were already listing rampant fraud among staff complaints, atop years of gripes about frequent reorganizations and targets rewritten quarter to quarter. Employees who prized the company's work-from-anywhere culture watched mass layoffs close it down; the founder was later sentenced to prison.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.