Real-estate aggregator Grabhouse, which recently raised $10mn from Sequoia and Kalaari has laid-off close to 100 employees. The company originally had over 400 employees before the lay-offs.
Prateek Shukla and Pankhuri Shrivastava founded the aggregator in 2013. Grabhouse works by providing ‘neighborhood specialists’ who help people looking for a house or a PG.
They recently raised a Series B funding of $10 million (INR 65 crores) from Sequoia Capital & Kalaari Capital.
The company is planning to scale up their existing model by including a ‘virtual’ neighborhood specialist, which will be integrated in their upcoming app to be released by the end of December.
“This has been a tough decision for us and we are doing all we can to help people who have been let go. We have organized a special recruitment team to help these employees find their next role asap and will continue to support this effort any way we can. During this period, we will take all measures to ensure our customers and services remain unaffected,” Grabhouse founders.[Source]