News on Medial

Exclusive: BeepKart Fires 130 Employees In 5 Months To Cut Costs, Halves Store Count

Inc42 · 1m

1. BeepKart recently conducted three rounds of layoffs, resulting in the termination of approximately 60-70 employees last month. 2. The startup has been actively cutting costs and closed down six stores out of its total of 11 located in Bengaluru and Chennai within the past five months. 3. BeepKart offers a comprehensive platform for users to purchase and sell pre-owned motorcycles online, and counts Vertex Ventures and Stellaris Venture Partners among its backers. 4. The recent layoffs were part of the company's ongoing efforts to control expenses and streamline operations. 5. BeepKart's full-stack model enables a seamless experience for customers looking to buy or sell used two-wheelers. 6. The closure of six stores suggests a strategic shift towards focusing more on online sales rather than maintaining physical storefronts.