US-based startup Frontdesk, known for redefining temporary housing, recently shut down after laying off its entire workforce due to a lack of capital. The company’s attempt to secure funding through a bridge round for a new strategy in full building management failed to attract investors. The layoffs occurred during a two-minute Google Meet call, where the CEO announced that the company would be filing for state receivership. Frontdesk had previously raised $26 million from investors and faced challenges in the unpredictable short-term rental market.
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What CEO who fired his entire company during the 2-minute GMeet call told employees
US-based startup Frontdesk, known for redefining temporary housing, recently shut down after laying off its entire workforce due to a lack of capital. The company’s attempt to secure funding through a bridge round for a new strategy in full building management failed to attract investors. The layoffs occurred during a two-minute Google Meet call, where the CEO announced that the company would be filing for state receivership. Frontdesk had previously raised $26 million from investors and faced challenges in the unpredictable short-term rental market.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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