🌎 San Francisco, Minneapolis ∙ 👩💼 70 employees (88%) ∙ 🖥 All departments
Brandless, a direct-to-consumer startup that makes affordable household products, is shutting down and laying off 88% of its staff (see link below for the list👇). 10 employees remain to finish the wind-down process. The company said its business model was unsustainable — a problem that has also plagued other DTC startups because competition for social media advertising has driven up customer acquisition costs. Brandless had raised $292 million, most notably from SoftBank.
Source: Google Sheets
🌎 Mostly Nashville, Chicago, SF ∙ 👩💼 At least 78 employees∙ 🖥 Mostly sales and business roles
KeepTruckin, which helps trucking companies manage their fleets, is shutting down One Point Logistics, a freight brokerage it acquired last year. The majority of OPL’s staff will be laid off, while the remaining 30 employees will be reassigned within KeepTruckin. The company says that owning its own freight brokerage business was too operationally intensive and will instead be investing in its marketplace of third-party brokers.
🌎 San Francisco ∙ 👩💼 Unknown # affected ∙ 🖥 All departments
Starsky Robotics, a self-driving truck startup, is reportedly shutting down after its Series B fell apart due to concerns about its asset-heavy, low-margin business model. The majority of staff have been laid off, likely numbering a couple dozen. The company had raised $20 million, most recently from Shasta Ventures two years ago.
🌎 Mostly San Francisco ∙ 👩💼 100 employees (14%) ∙ 🖥 Various business roles
Lime, the electric scooter company, is shutting down 12 of its markets and laying off 100 employees (14% of its workforce). After a period of rapid expansion into new markets, e-scooter companies have been suffering large losses, causing them to retreat. Lime has raised $765 million to date.