TinyOwl Layoffs & General 'Mess' With The Food Delivery Startups
TinyOwl is currently in the news for all the wrong reasons. It's laying off employees and the fired employees held the founders as hostages for several hours. Reason: the fired employees were given post-dated cheques while the employees think that the company's bank accounts are empty. I've been reading that the employees who were fired about 3 months ago have not received their dues yet.
TinyOwl's in a big mess!
I'm also learning that the founders and the board are desperately trying to sell the company to another, bigger Food-tech company.
TinyOwl's a living story of how a funded company can go wrong. The company's run by IITans who raised several millions of dollar and even moved to a swanky office in Mumbai recently. Looks like the company should have taken care of their burn rate over switching to posh office.
The comments on several blogs are diverse. Some say 'welcome to the harsh world of startups' while some are putting the guilt totally on the management.
What do you think?
PS: Any TinyOwl employees reading this? Could you please tell us what's really happening. The 'blogs' these days aren't very trustworthy.
TinyOwl's in a big mess!
I'm also learning that the founders and the board are desperately trying to sell the company to another, bigger Food-tech company.
TinyOwl's a living story of how a funded company can go wrong. The company's run by IITans who raised several millions of dollar and even moved to a swanky office in Mumbai recently. Looks like the company should have taken care of their burn rate over switching to posh office.
The comments on several blogs are diverse. Some say 'welcome to the harsh world of startups' while some are putting the guilt totally on the management.
What do you think?
PS: Any TinyOwl employees reading this? Could you please tell us what's really happening. The 'blogs' these days aren't very trustworthy.
Replies
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Kaustubh KatdareBit surprised to see that this post is lonely. Isn't it one of the most interesting happenings in the startup world since housing.com? Would love to hear comments. -
Anoop KumarIn current booming season of start-up this is usual that some of ventures will crash. But, yeah, after investment and valuation of more than $10M. Seems, founders are rushing for money, bag it and run away. Better this is not the case.
Company should take care of employees otherwise this will become a trend and will discourage people to join start-ups.
PS: Did they order food using TinyOwl app in two days hostage situation?☕
You are reading an archived discussion.
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