Giri Devanur – Employee Abuse & Hiding ReAlpha Reviews (Update 2023)
Giri Devanur is the founder of ReAlpha, a real estate investment firm. He has received a ton of complaints as a CEO for neglecting his employees.
You can help us put a stop to online scams before they grow too big and end-up ruining thousands of lives. A scam is a scam, doesn’t matter if it’s big or small. Now that this is out of the way, let’s get started with the review.
According to his former staff members, Giri wouldn’t usually pay his staff on time. Furthermore, he is using unethical marketing tactics to promote ReAlpha.
Hence, before you trust him and invest in ReAlpha or join his team, it would be best for you to read the following review:
Who is Giri Devanur?
Giri Devanur has an impressive bio. He is the founder and CEO of reAlpha.
The tech company focuses on helping invest in the short-term rental market. Before this, he was the President and CEO of Ameri100 Inc.
There, he scaled the company from $0 to $50M in revenue. Furthermore, he completed the company’s IPO on Nasdaq within 4 years. He is also an author and has written Nothing to Nasdaq.
Giri claims to have over 20 years of IT experience.
Apart from reAlpha, he has also founded Ivega Corporation and WinHire Inc.
He earned his MS in Technology Management from Columbia University. Similarly, he received a B.S in Computer Engineering from the University of Mysore, India.
On paper, Giri Devanur seems like a credible expert. However, facts indicate otherwise.
Under his leadership, Ameri100 received a ton of employee complaints. Moreover, Giri Devanur reAlpha is already receiving negative reviews for being a sketchy platform.
The man is not what he claims to be.
In the next sections of this review, you’ll understand why you can’t trust Giri Devanur:
Former Employees Expose Giri Devanur:
Giri was the CEO and President of Ameri100 from 2010 to 2017.
Hence, the following complaints are only from that duration. However, the quantity is significant. It’s worth noting that during that period, Glassdoor wasn’t even that popular in the Indian market, where Ameri100 was based.
“No Management, No Organization Structure”
Here, the reviewer says that Ameri100 has no management and there is no organization structure.
Moreover, the reviewer says you receive nothing from this company except a salary. In fact, the salary is significantly lower than industry standard as well.
He points out the company doesn’t help you learn new skills.
Moreover, he says because there is no serious management, it wouldn’t be worth it to leave any recommended changes.
Giri Devanur Doesn’t Manage Anything
Here, the reviewer points out the company has no pros whatsoever, Furthermore, he says Ameri100 is a shady Indian firm with multiple skeletons in its closet.
In the “Advice to management” section, he suggests Giri Devanur to manage the company instead of chopping and changing everything.
Giri Devanur Doesn’t Believe in Giving Employee Benefits
The above review is a little more positive than the previous 2. Here, the reviewer says the firm offers good work-life balance.
However, he also points out that the management needs to grow with the employees. In other words, it doesn’t improve itself even though the employees do.
Apparently, under Giri Devanur’s leadership, Ameri100 didn’t offer any employee benefits. Moreover, the company didn’t conduct any performance reviews. Maybe, they were cutting costs there as well.
The reviewer recommends Giri to start considering his employees as assets.
“Employees Don’t Get Yearly Raises and are Ignored”
Here, the reviewer says the company has a great team and VPs are always available.
However, the upper management (Giri) seem to have plenty of problems.
The reviewer points out, the management doesn’t define the responsibilities effectively. Also, they don’t assign accounts.
Still, the most alarming issue is the company doesn’t give raises every year.
Hence, the reviewer suggests Giri to give the staff yearly raises, like companies normally do. He also suggests Giri starts listening to the requirements of the support teams.
Finally, the reviewer urges Giri to start giving his staff the necessary resources for completing their designated tasks.
“Giri Devanur is Not Employee Friendly”
Here, the reviewer says Ameri100 is a nice place to work at and it offers a good work/life balance.
However, the issues he points out are too significant to ignore.
According to the reviewer, the staff doesn’t get its salary on time. Moreover, nobody reviews your work here and there are no team building activities.
The reviewer says the leadership aka Giri Devanur is not employee friendly.
In the “Advice to Management” section, he recommends Giri to take care of all the employees and provide them with the necessary encouragement.
Additionally, the reviewer suggests Giri provides his staff with what they deserve, considering they do all the work.
It seems like Giri doesn’t have much regard for his subordinates. Sadly, it is becoming increasingly common among shady and crony capitalists to ignore their employees’ gripes.
For example, F1 Solutions Australia is a tech firm which has received a ton of criticism recently.
Giri Devanur ReAlpha: Is it a Real Estate Scam?
ReAlpha offers fractional vacation home ownership. The company claims to help people invest in Airbnb properties without lifting a finger (figuratively).
With ReAlpha, Giri claims to help consumers buy partial ownership of Airbnb homes which would generate profits eventually.
At a glance, this concept seems rather attractive.
Giri claims they use their proprietary AI to analyze thousands of homes available in the market and find the best Airbnb-viable options. However, they don’t disclose any information on any property they have purchased so far.
In essence, ReAlpha is a real estate investment fund.
Giri Devanur wants you to invest your money in his fund which he will use to purchase properties to turn into Airbnb rentals.
ReAlpha says that they will pair people with like-minded investors to form a syndicate who will cover the 49% down payment, The company claims to cover the rest of the 51%.
In other words, they would have majority ownership over all the homes. So, you wouldn’t have much control over your money or the property.
Moreover, it claims investment properties usually require a 25% down payment. But with ReAlpha, it would only be 10% because of ‘their relationship with lenders’.
To me, it sounds quite similar to hotel room investments. They are a popular scam in the UK. Here, companies claim to sell hotel rooms as investments which would yield monthly profits for the investors.
However, almost all of such products are scams.
Nick Carlile, a notorious financial scammer, used to run a similar scheme. He had to file for bankruptcy recently.
Red Flags in ReAlpha:
ReAlpha claims that you can stay in the property you invest in. Moreover, the company claims it will release the reAlpha rewards loyalty program as soon as it gets ready.
The tech firm also claims that Reg A shareholders will have the option to book stays at all properties. Similarly, syndicate members will be able to book at their properties.
However, according to the latest ReAlpha reviews, it’s all a lie! Reviewers point out that you can’t stay in the properties you invest. I have shared them in the next sections, be sure to read them.
Another red flag of ReAlpha is the minimum investment requirement.
You will need to invest at least $2,500 to get started with ReAlpha. This is a huge figure.
Moreover, it’s the bare minimum. The number can rise depending on the cost of the property and how many syndicate members they allow.
That’s not all. Most of the ReAlpha reviews so far are extremely negative. I have explained them in detail below:
Using Unethical Marketing To Promote ReAlpha: BBB Accreditation
When I was looking into the shady past of Giri Devanur, I thought I should check out his latest venture, ReAlpha as well.
I found its BBB profile which gives the company a strong A- rating. Also, ReAlpha has an accredited profile on BBB.
You should know that getting a BBB accreditation doesn’t depend on how good your business is. Instead, it depends on whether you can pay the hefty annual fee or not.
A CNN Money investigation revealed that fraudsters facing federal charges of defrauding consumers enjoyed A+ ratings on BBB because they had an accredited profile.
Moreover, they found that the annual fees for getting a BBB accreditation can go up to $10,000 per annum.
So, it seems like Giri is paying BBB a lot of money to make sure his company looks great. Yet, it has received 2 complaints already.
According to these ReAlpha reviews, Giri Devanur’s company isn’t informing its investors how it’s using their funds. Certainly, they don’t instill confidence and indicate that ReAlpha might be another scam.
ReAlpha Reviews: Is Giri Devanur a Reliable Leader?
Currently, Giri Devanur ReAlpha is his flagship project. However, the project is already receiving criticism from consumers for its shady activities.
ReAlpha claims to use machine learning and automated management to help people invest in short-term rentals. The company claims to develop a technology-driven platform where people can buy shares in reAlpha’s properties easily.
I found a ton of negative ReAlpha reviews, indicating the company doesn’t have its customers’ best interests at heart.
Keep in mind that Giri has launched ReAlpha just recently. So, it is highly suspicious for a new tech company to receive such stringent criticism already.
This is a big reason why I thought it was necessary to look into Giri Devanur.
ReAlpha Took the Client’s Money But Didn’t Reflect the Sum, Didn’t Let Him Stay in the Property He Invested In
Sunny had invested $1000 into ReAlpha. However, the app did not reflect the sum.
Moreover, you cannot stay in the rentals you fund which is pathetic.
When Sunny asked the company for his money back, he didn’t receive any proper responses. Instead, he only received automated bot replies. Eventually, he was able to get a human to respond but was never able to recover his funds.
The above are a few more Giri Devanur ReAlpha reviews. However, they are more concerned with the app.
Clearly, the app has too many bugs even though it has such experienced tech leadership.
Redditors Expose ReAlpha: Avoid Investing!
I found a detailed discussion on the legitimacy of ReAlpha on Reddit. According to multiple users, it is an extremely risky investment and probably a scam. Hence, you should avoid investing with them.
The above user said he was extremely excited about Giri Devanur ReAlpha. However, he read their Reg A+ circular and lost all the excitement.
According to the redditor, investing in ReAlpha Asset Management is not the same as investing in ReAlpha Tech.
According to pages 2 & 37 of the Circular, Investors of Reg A+ offerings put nearly 90% of their funds for less than 16% ownership.
Moreover, ReAlpha Asset Management only owns a few Airbnb homes. But, it is selling shares at a valuation of $400 million.
While it’s not illegal, it’s deceptive.
Similarly, the second user points out that ReAlpha will retain 51% ownership of the properties.
She says it sounds quite bad. Hence, she doesn’t recommend investing with Giri’s company as you wouldn’t have control over your money.
After going through the above points, one thing is clear: Giri Devanur is not as reliable as he claims to be.
He uses unethical marketing tactics to promote his company and bury the numerous negative ReAlpha reviews.
Furthermore, he has received numerous complaints for neglecting his employees. Clearly, he is not a leader who cares about his team.
Due to these reasons, I recommend avoiding Giri Devanur and ReAlpha.
Giri Devanur is running ReAlpha, a real estate investment firm which is receiving a ton of negative reviews from its initial investors. According to the reviews, the company doesn’t share much info and has trapped them in unfavorable agreements.
- Uses unethical marketing tactics
- Suspected of running a financial scam
- Doesn’t care about his employees