EXCLUSIVE: The nearly $3 billion Udaan lays off thousands of its contract staff— sales and delivery guys are now out of jobs
- The Indian B2B e-commerce unicorn startup has sacked half of its ground force, a source told Business Insider.
- Those laid off consist of the sales force, the delivery guys and more. None of the on-roll employees have been asked to leave.
- In October 2019,
Udaanhad raised a whopping $585 million from Tencent, Altimeter, Footpath Ventures, Hillhouse, GGV Capital and Citi Ventures.
Udaan admitted that it is rightsizing staff given the woes in the retail industry from the
“On Friday morning, Udaan sent out individual emails to these guys asking them to leave the company,” a source told Business Insider. However, none of the on roll employees have been asked to leave.
Late Friday (April 24) evening, a Twitter account was also created called
The Top E-commerce B2B UDAAN company from Bangalore, removed 200+ employees without any notice in midnight stating… https://t.co/K1j6ruZAEY— Udaan Employees (@EmployeesUdaan) 1587736670000
In October 2019, Udaan had raised a whopping $585 million from Tencent, Altimeter, Footpath Ventures, Hillhouse, GGV Capital and Citi Ventures. The startup’s existing investors Lightspeed Venture Partners and DST Global too participated in the series D round. Reports said that this was the biggest single funding round raised by a B2B platform in India.
With the funding in October 2019, Udaan’s valuation had soared to $2.8 billion with a total funding of $870 million. In September 2018, udaan became one of the fastest Indian
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