Startup Consulting: xto10x Closes PeopleCues and Focuses on Growth
Startup consulting platform xto10x has decided to cease its HR technology product PeopleCues, marking an end to its involvement in the employee engagement and performance management software sector. Neeraj Aggarwal, co-founder of xto10x, confirmed the decision to Startup Superb, stating that the organisation chose to retire the platform due to its inability to achieve the expected growth.
Aggarwal explained that PeopleCues was discontinued on May 10, following adequate notifications to clients and assistance provided for their transition to alternative platforms.
PeopleCues Features and Background
PeopleCues was designed to assist organisations in gathering employee feedback, monitoring OKRs, conducting performance reviews, and utilizing analytical tools for workforce insights. In 2021, xto10x acquired the HRtech startup Dockabl to enhance the product, previously known as 10xPeople.
Future Speculations and Company Status
The shutdown has ignited speculations about the future of xto10x. Sources revealed to Startup Superb that the organisation may be planning to cease all operations. However, Aggarwal refuted this claim, asserting that xto10x remains active and in a stable condition.
Aggarwal stated that the organisation is not closing down and emphasised that both their projects and operational activities are performing well.
Company Overview
Founded in 2019 by Binny Bansal, a co-founder of Flipkart, alongside former Flipkart executives Saikiran Krishnamurthy and Neeraj Aggarwal, xto10x supports growth-stage startups in enhancing their operations and developing their organisational capacities in preparation for public listings. The startup has collaborated with various companies such as Licious, Zoomcar, Spinny, Shiprocket, CRED, Dunzo, Razorpay, Mygate, and Groww through its consulting and educational initiatives.
Recent Developments
In February 2022, xto10x secured $25 million in a Series A funding round led by Bansal, with contributions from 28 founders and senior leaders from startups throughout India and Southeast Asia. This decision followed a restructuring phase within the company. Reports indicate that xto10x laid off approximately 40% of its workforce in 2024. Additionally, this year witnessed significant departures, including General Manager Bhanu Pathak and Product Head Tanmay A. Meanwhile, Bansal has been shifting his focus towards new ventures such as Opptra and OppDoor.