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Frontdesk, short-term rental startup, lays off all staff amid financial struggle...
source link: https://nextbigwhat.com/frontdesk-short-term-rental-startup-lays-off-all-staff-amid-financial-struggles/
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Frontdesk, short-term rental startup, lays off all staff amid financial struggles
- Frontdesk, a proptech startup managing over 1,000 furnished apartments in the US, has laid off its entire 200-person workforce after failing to raise more capital.
- CEO Jesse DePinto announced the company would be filing for state receivership, an alternative to bankruptcy.
- The startup, founded in 2017, had previously raised about $26 million from investors, but struggled with the upfront costs and variables in demand associated with its business model.
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