These measures are expected to reduce redundancies and make the company more profitable, according to B2B e-commerce unicorns.
B2B e-commerce unicorn udaan is laying off around 350 of its employees as it looks to achieve positive unit economics and become a profitable company.
A spokesperson for udaan responded to a question from . She stated, “As our journey towards making udaan a financially sound company, the efficiency enhancement drive, and the evolution of business model have created some redundancies in this system with some roles no more required.” We are committed to providing the best support for the impacted employees as a responsible organization. This is the second time in a year that udaan has undertaken an employee downsizing initiative. It laid off approximately 180 employees in June. It has an estimated workforce of approximately 3,000 employees.
The spokesperson also said, “These initiatives, executed by our strong leadership team, have not only helped us achieve positive unit economics but also reduced inefficiency in the system, with huge cost benefits, which is key to building a sustainable business.” In October, udaan raised $120 million through debt and convertibles. Founded in 2016, udaan was once the fastest startup to reach the unicorn milestone—$1 billion in valuation. According to reports, it is now valued at around $3 billion.
In October, udaan raised $120 million through debt and convertibles.
Founded in 2016, udaan was once the fastest startup to reach the unicorn milestone—$1 billion in valuation. According to reports, it is now valued at around $3 billion.
“We believe in efficiency as a driver of profitable growth and will continue to refine our cost structures and models. In this direction, we have taken numerous steps, with enhanced digital capabilities, to achieve efficiency and scale, become more agile and remain competitive in the marketplace,” the statement said
