Lummo Reportedly Laid Off the Majority of Employees
There is potential to change the company's business. In total, Lummo has obtained investor funds worth more than IDR 2,2 trillion
Lummo, a startup providing SaaS for business liaison, reportedly carried out large-scale layoffs this month. It is stated that there is a potential for 99-100% of employees to be furloughed. Nonetheless, the business entity continues to operate and is not in a state of bankruptcy.
A similar strategy has been used by startups quick commerceBananas last year the company changed its business under a new name but with the same legal entity and investors.
According to the info we received, there is a potential for business changes/pivots to be made by startups that acquire total funding of around $149 million (over 2,2 trillion Rupiah), including VC supported by Amazon Founder Jeff Bezos in a Series C funding round.
Already have an account? Login
Purchase to keep reading and accessing this article
Sign up for our
newsletter
Review Order
Monthly
IDR 150.000
Payment Details
Subscribe Monthly
Total payment
By clicking the payment method button, you are read and
agree to the
terms and conditions of Dailysocial.id