San Francisco, July 23 (Ians) US-based proptech startup Stoa has laid off 80 per cent of its workforce after undergoing dramatic cutbacks.
The company has raised a total of $300 million since its inception in 2017, with $100 million raised in equity and $200 million raised in debt. Between November 2021 and August 2022, nearly the full amount was raised in less than a year, reports CTech.
In addition, the company recently got an unknown investment and stated that it is considering several options.
“In response to the changes in the real estate market, the company is undergoing a reorganisation and has reduced its workforce to about 20 employees. Currently, there are several deals on the table that the company is considering,” the company was quoted as saying.
The company was founded by Israelis Or Agassi (CEO), Tom Sella, and Jonathan Saragossi, who has since left the company, the report mentioned.
FlipOS, Stoa’s iBuyer software platform, was created...
The company has raised a total of $300 million since its inception in 2017, with $100 million raised in equity and $200 million raised in debt. Between November 2021 and August 2022, nearly the full amount was raised in less than a year, reports CTech.
In addition, the company recently got an unknown investment and stated that it is considering several options.
“In response to the changes in the real estate market, the company is undergoing a reorganisation and has reduced its workforce to about 20 employees. Currently, there are several deals on the table that the company is considering,” the company was quoted as saying.
The company was founded by Israelis Or Agassi (CEO), Tom Sella, and Jonathan Saragossi, who has since left the company, the report mentioned.
FlipOS, Stoa’s iBuyer software platform, was created...
- 7/23/2023
- by Agency News Desk
- GlamSham
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