Social commerce platform CityMall lays off 191 employees as it struggles with market conditions

Social Commerce Platform CityMall has laid off 191 employees as it struggles to navigate current market conditions.

The startup in March had raised $75 million. CityMall, based in Gurugram, is a community commerce platform supported by investors such as General Catalyst, Elevation, Accel and Waterbridge.

In a LinkedIn post, the startup said “191 of our employees will be parting ways with us due to structural changes to CityMall’s functions.”

Discover the future of SaaS in India

The 6-part video series will capture the vision of India’s SaaS leaders and highlight the potential of the industry in the decades to come.Watch on demand
Our speakers
Girish Mathrubootham
Brian E. Taptich

The layoff affects at least 30% of its workforce.

“After exploring several options, we realized that certain roles within the company needed to be dissolved to align with our evolving business model and the current business environment,” the startup said.

CityMall deals with groceries, fresh and packaged consumer goods, electronics and fashion.

The platform said it will provide “outplacement assistance to all employees leaving the company.”

“Every employee affected by this layoff has helped make Citymall what it is today, and this is one of the toughest decisions the company has ever had to make,” he said. added.

The startup has raised over $110 million to date.

Founded by alumni of IIT Delhi and IIT Roorkee, CityMall aims to nurture hundreds of thousands of such micro-entrepreneurs and empower them to create the go-to e-commerce platform for “Bharat”.

To date, more than 10,000 startup employees in India have been laid off amid global macro conditions that have triggered a funding winter for the startup ecosystem.


Kidnapper and murder defendant score over 70% on UP exams

FII sold every month in the last year except September 2021

Comments are closed.