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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 online storytelling company is betting that content will be the most sought-after commodity as scores of platforms jump on the microdrama bandwagon. But success will hinge on whether it has a good enough story to draw the audience.
SEBI has lowered the bar for loss-making startups to list. In that context, a company like Zepto redefines the meaning of risk in public market investing.
The 15-year-old company has bought one brand after another in the hope of growing fast. That plan has fallen flat on its face, but there’s no stopping Wingreens.
