Giri Devanur – Employee Abuse & Hiding ReAlpha Reviews (Update 2024)
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) seems 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.
Verdict:
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.
He has cheated one US investor of 2.5 million USD and case is on in India. Google Giri Devanur + High Court. In recent video he said in public that IPO is best way to make money without approaching any investor, nor have a plan or vision for the company. Realpha seems to be one more scheme to loot money..from 500+ USD it’s share has crashed to less than 2 USD today..
Sometimes I feel like why people don’t complain to the officials about the matter or leave the company, everyone should take rigorous actions.
How can someone imagine working at a place where there is no friendly nature in the office, and it is the most important requirement to work in the office?
No one is there to help us out of this situation, it is very important that the government should make the necessary changes to make these salary eaters punished for their cruel behavior.
They are making their employers work like animals and pushing the company to make a profit.
Talking about the increment in salary at the ReAlpha, we haven’t heard the word bonus, or something related to salary raises.
f you will make a list of the companies not paying their people on time then you will find most of these reputed and famous companies in the list, it is found that the most popular company is the chances are that their members are not satisfied with their paying method.
These reputed companies use their popularity to make fraudulent schemes and then make innocent people suffer.
You will find that the members aren’t getting any bonuses and none of their employers are satisfied with the work environment.
The company is involved in the list of one the most successful companies, but they are still lacking in office management and coordinating their members, which is shameful for this company.
The problem with these people is that they make their pockets filled with profit but don’t want their members to be paid on time.
If you will look into the past of the company then you will find that Giri made this company touch the skies of glory, with his hard work and dedication. But these articles mostly cover the negative aspects of their lives.
The problem of not getting paid on time has increased nowadays, people are working on wages, but it is not fixed whether they will be paid or not.
When it comes to investment we should always find out the real business of the platform as well as the past history of the company. Only then you should invest in the company.
If you go through the reviews on the internet about the company’s investment plans and past you will find that the company is a complete scam. People should never invest in such platforms where the image of the company is shady.
They aren’t a trustable investment platform as the company claims to provide handsome returns without any loss but the company’s claims are fake. I was reading the reviews about the company and I found most of the comments to be negative about ReAlpha.
When my cousin tried to ask about staying in the property in which he invested the company asked him not to ask a foolish question which made him annoyed and also gave him the feeling of being scammed by the company.
Buying hotel rooms as an investment doesn’t sound good and profitable because there are no controls in your hands. There is nothing in your hands because the company controls every part of your investment which sounds more like a scam.
What property are you investing in that you want to stay at? Are you not investing in all the properties so to speak? Are you picking one you want? Im confused here?
reAlpha is a scam guys. They don’t let you see your property and make it seem like you’re wrong to assume so. Why the heck would I not want to see the property I just invested in?
There is like no proof of property’s existence. I suspect they just took my money and made up a property name to make it seem like I invested in something real. Their behavior is kinda shady too.
Thank you whoever wrote this review. You saved me from losing thousands of dollars.
Columbia University needs to review the profile of Giri Devanur they have featured on their website. How can they let an obvious scammer attach his name to a prestigious institution? This is outrageous and disgusting.
I bought a 3 BHK hotel room from the company and was waiting for the profit from this $20000 investment. But I faced some serious issues during the investment. The company told me that even though it’s been months since I made the investment, it hasn’t begun yielding any results because of some local issues. I’m frustrated and already suffering a huge loss. Please help me resolve that matter.
People should be vigilant. When you do business with a company that abuses its employees you are helping the business owner get away with a lot of wrongdoings. We should let Devanur know that there are consequences to employee abuse. There is no escaping it.
why waste your money with these fraudsters who aren’t able to pay their co-workers and ask for investments from us? Although the company contains Aᐩ grading from BBB which makes his business look more legitimate, in the world of the internet and social media your shady business will not be able to survive for a long time, after scamming your users.
I looked up this guy and I was suprised to see the name of Columbia University attached to his brand. Why is he tarnishing the name of that university by promoting himself with it?
Either the people at Columbia University have no idea what kind of a man Giri Devanur is or someone has received a large check.
Still it doesn’t justify ruining the name of a renowned university like this.
People nowadays, especially the ones who have got scammed by these online platforms, should just carry a big sign board to show themselves as complete fools. And people like Giri Devanur should be punished severely for running their shady businesses in the current war-ridden world.
These companies are taking advantage of our careless behavior about these schemes which seem like they will yield highly profitable returns but give heart attacks after investing.
Giri Devanur is a cheap scum. He doesn’t care about his employees and he definitely doesn’t care about his clients. The man needs to be thrown in jail. I have am stuck with a $2000 investment with realpha. I never knew how many excuses somebody can give to keep your money. realpha made me realize just how terrible this whole real estate market it. Giri needs to answer man.
Sometimes we invest in these companies with the feeling of facing no risk, as the mindset is that what loss will they have to suffer after investing into schemes like these, but the truth is your hard-earned money and your precious time, both are lost.
Giri is no real estate expert. The man is using technical jargon to promote a scam.
I wish I found this realpha review before. My brother invested after buying a hotel room from ReAlpha where they claimed if the room wasn’t able to generate revenue he would be allowed to stay in the room, but after the investment was made the company never allowed him to stay in the hotel, the claims were fake.
Yeah I got the same feeling from their website. Like how can people fall for an obvious scam like this is beyond me. Natural selection at work lol.
I regret investing.
They don’t let me see the property so I have no idea where my money went.
Now they won’t even let me get my money back.
Giri is scamming you. Don’t trust him.
Thanks for the warning. I heard about realpha on reddit and was really interested. I am sorry for your loss tho. Giri Devanur sounds like a toral sham.
Like most I was interested in realpha but after preliminary research quickly found that these folks are quite sketchy. The CEO has a terrible track record
Haha another real estate company claiming to use an advanced technology to help people make more money.
Reminds me of earth2. They did the same thing. I feel sorry for people who invest in reAlpha
My brother lost like $1500 because of Earth 2. I had urged him to avoid signing up for that virtual real estate BS but he didn’t listen. He held onto that platform for like a year and a half. The man blew through his savings to invest in that scam. I felt sorry for him when we talked a few months ago. He really thought a scam like Earth 2 will help him retire early. I guess reAlpha is promoting itself like that as well. Hopefully it wouldn’t be as effective as earth 2 was.
I’m not gonna invest in a company which won’t even let me visit my property.
Giri has been arrested in India , fled bail and not payed back any investors from ghandi city venture as he pocketed the approximately 5+ million in investment.
ReAlpha seems very suspicious. They don’t tell you where your money is going and that’s rather odd.
Imo it is a Ponzi scheme.