Unlike a lot other traditional businesses, internet startups is a space that shows up results pretty fast. While some raise quick venture capital money and grow at unexpected pace, some take an early call to shut down operations to save time and money.
Last week, we had reported that over eight startups have either closed down or pivoted their business strategy in a little over two weeks. The food-tech sector, which was once a hot investment destination, has been hit hard. Fast forward a week, we have three startups – one from online beauty and two from local and personal services space – coming in terms with market realities to take hard decisions on their businesses.
Here’s a list of funded startups that have either permanently shut operations or scaled back their businesses last week: