In the four months since March 2022, Sequoia and Y Combinator-backed retail tech startup Bikayi’s fortunes have taken a wild swing. But four months later, I didn’t have a job at Bikayi.” The company is raising funds we were told. “In January, the office chatter was that we would become a unicorn. From a workforce of 500-600 employees in February, Bengaluru-based Bikayi has more than halved its employee count in the past couple of months, with many employees being laid off after an allegedly opaque internal auditĪccording to multiple sources, Bikayi’s revenue declined from roughly INR 1.9 Cr in April 2022 to just under INR 10 Lakh in July 2022 due to a number of challenges related to sellers as well as product pricingĪmid serious holes in its business model, Bikayi is pivoting to target enterprises and claims to have raised funds towards this, but there are far too many challenges for the Sequoia and YC-backed startup
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |