FrontRow cuts off 75% of workforce
By MYBRANDBOOK
FrontRow has announced plans to lay off 75% of its workforce, around 130 employees. The firm will now be left with a barebones team of 40 employees.
FrontRow Co-founder Ishaan Preet Singh said in a statement, “Unfortunately, over the past couple of months, it’s also become clear that the business fundamentals were still not working despite our best efforts. As we realized that a sales and marketing led approach to this market didn’t work with our current delivery model, we had to let go of a large part of our team.”
This is the second large layoff at FrontRow in recent months; the startup, founded by Mikhil Raj, Shubhadit Sharma and Ishaan Preet Singh, had fired 30% of its workforce in May. FrontRow’s business model revolves around having celebrities teaching courses in their respective fields.
The idea saw investments in the millions of dollars from the likes of actress Deepika Padukone, Elevation Capital, and Lightspeed. Last September, it raised $14 million in a Series A round led by Eight Roads Ventures. That round also saw investments from Ashneer Grover and Kunal Shah.
Funding in edtech startups also plummeted from $5.82 billion in 2021 to $2 billion in 2022 till August 15. In the past couple of months, there were few sizable edtech deals such as Sunstone($35 million), Adda247 ($35 million) and Bhanzu ($15 million).
As per data, edtech accounted for more than 30% of overall layoffs in the Indian startup ecosystem in 2022. The list includes Byju’s (Toppr, WhiteHat Jr), Unacademy, Vedantu, LEAD, Eruditus, Frontrow, and Invact Metaversity. This year, Lido, Udayy, SuperLearn and Crejo.Fun shut their operations.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
In India, 88% of Indian business leaders are planning to inves
As we move through 2024, it has become increasingly clear that AI is not ju
AMD Pensando driving innovation in the DPU architecture space
AMD Pensando stands out in the DPU (Data Processing Unit) market with its u
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
RELIANCE JIO INFOCOMM LTD.
POLYCAB INDIA PVT. LTD
LAVA INTERNATIONAL LTD.
VVDN TECHNOLOGIES
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : NEERAJ MITTAL
He started his career as an IAS Officer in 1992. He has held various a...
Icons Of India : MADHABI PURI BUCH
Madhabi Puri Buch is the first-female chairperson of India’s markets...
ICONS OF INDIA : RITESH AGARWAL
Ritesh Agarwal is an Indian billionaire entrepreneur and the founder a...
PARTNER SPEAKERS
PSU
ITI - ITI Limited
ITI Limited is a leading provider of telecommunications equipment, sol...
IOCL - Indian Oil Corporation Ltd.
IOCL is India’s largest oil refining and marketing company ...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
