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Coronavirus outbreak: Start-up heads predict mayhem in six months

The only disruption for thousands of start-ups in the country till now was limited to to pay cuts, salary freeze and layoffs, but the scene will be different in six months

Topics
Coronavirus | start- ups | venture capital

Peerzada Abrar  |  Bengaluru 

A Mumbai-based entrepreneur, who runs a consumer products and marketing firm, had committed to fund a wedding in his family.

But little did he anticipate a pandemic was looming, which will turn everything upside down. After the Covid-19 outbreak, he is on the verge of closing down the company, as the venture capital (VC) firm investing in his start-up has backed out and most of the clients have cancelled contracts. “I even put up some of my property on sale, but who would buy it at this time?” the founder, who is now facing pressure from his staff to pay salaries, ...

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First Published: Sun, April 26 2020. 22:00 IST
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