BeepKart Lays Off Over 100 Employees Post-Fundraise

- BeepKart, a Bengaluru-based used two-wheeler retailer, has laid off over 100 employees in recent months, sources told Entrackr. - The layoffs, affecting more than 20% of the workforce, occurred in phases starting after the April fundraise, impacting roles across marketing, tech, product, and operations. - A source indicated that the layoffs, which included senior roles, were unexpected and likely aimed at focusing on profitability. - Founded in 2020, BeepKart operates in Bengaluru and Chennai, and has raised around $18.5 million to date, with a current valuation of approximately $44 million. - Despite the layoffs, BeepKart reported Rs 21.86 crore revenue for FY23, though it also posted losses of Rs 27.88 crore for the same period. Source: [Entrackr](https://entrackr.com/2024/08/exclusive-beepkart-lays-off-more-than-100-employees/)

BiryaniEnthu

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Losses on paper are just bullshit to save taxes and also name it as 'cost cutting for efficiency'

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