/
•
•
Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The Bengaluru-based scooter startup has fired around 250 employees amid a cash crisis, and may be looking for a buyer.
Editor's note: It has been a tough week at Bounce. Varun Agni, co-founder and chief technology officer of the Bengaluru-based mobility startup, called his team members, one by one, to deliver the bad news. The company, he said, would be laying off the “entire tech team”, recalls a former employee who received the call. They requested not to be named. The layoffs continued across departments. In Bengaluru, Bounce has sacked almost 90% of its employees, according to two other former executives, who also requested anonymity. It also laid off a few employees working at its manufacturing plant in Bhiwadi, Rajasthan. In all, according to one of the three former executives cited above, more than half the firm’s workforce has been fired. Until last week, Bounce had fewer than 500 employees; that count is now less than 250. The company has only retained department heads, some core team members and a few employees from the 22Motors team, according to the third former executive. Bounce had acquired the Gurugram-based electric vehicle startup in October 2021, rebranding its existing scooters as Bounce Infinity and thus …
The Bengaluru-based scooter startup has fired around 250 employees amid a cash crisis, and may be looking for a buyer.
Editor's note: It has been a tough week at Bounce. Varun Agni, co-founder and chief technology officer of the Bengaluru-based mobility startup, called his team members, one by one, to deliver the bad news. The company, he said, would be laying off the “entire tech team”, recalls a former employee who received the call. They requested not to be named. The layoffs continued across departments. In Bengaluru, Bounce has sacked almost 90% of its employees, according to two other former executives, who also requested anonymity. It also laid off a few employees working at its manufacturing plant in Bhiwadi, Rajasthan. In all, according to one of the three former executives cited above, more than half the firm’s workforce has been fired. Until last week, Bounce had fewer than 500 employees; that count is now less than 250. The company has only retained department heads, some core team members and a few employees from the 22Motors team, according to the third former executive. Bounce had acquired the Gurugram-based electric vehicle startup in October 2021, rebranding its existing scooters as Bounce Infinity and thus …
Pricing constraints and uncertain daily-use demand cast doubt on instant help’s ability to replicate quick commerce.
The quick-commerce startup weighs a valuation cut or finding alternative funding to stay afloat as investor appetite for loss-making businesses weakens.
The emirate’s financial centre has surpassed the 10,000-company mark, Lucid Motors has a new investor, and digital assets are having a great week.
Pricing constraints and uncertain daily-use demand cast doubt on instant help’s ability to replicate quick commerce.
The quick-commerce startup weighs a valuation cut or finding alternative funding to stay afloat as investor appetite for loss-making businesses weakens.
The emirate’s financial centre has surpassed the 10,000-company mark, Lucid Motors has a new investor, and digital assets are having a great week.
