LOCKDOWN Affecting Companies and Startups Badly

LOCKDOWN: Threat for startups like 'BOUNCE – scooter & bike rental' ?

India is under lockdown from few months now. This is of course directly affecting the businesses in India.  Government of India is trying to give best fights against the economy pressure. Giving packages to run business and helping out the people in trouble. But still the corona record is increasing day by day. The huge impact is faced by this are the hardware companies or outdoor businesses. Due to the lockdown there is no work or orders for small as well as giant companies. So they are going to provide salaries to their workers? This is the huge question for startups and companies.

The startup based in city of startups i.e. Bangalore, known as BOUNCE faced the same problem. So they have to take a very difficult step for their company. Scooter rental startup known as BOUNCE fired as many as 120 employees. As people are in their houses doing work from, there was no response for the company being an outdoor company. The number is about 20% of the total number of employees.  Most of the employees that were fired are from high post in company mainly focusing of research field and development of BOUNCE. They were working on experiments like car pooling and bike taxi. As these experiments would be put on hold after the lockdown.

Bounce was very much known as world’s fastest growing bike sharing company in 2019. It is very popular in Bangalore.  The start of this startup was perfect with 5 millions rides in just 10 months covering 30 million kilometres. BOUNCE raises $72 million to grow its electric scooters business.

Founding team of Bounce is Varun Agni, Anil Giri and Vivekananda Hallekere. Bounce put their bike stops near to metro stations to attract the daily travelers.

During the lockdown period BOUNCE is also offering the thoroughly sanitized scooters for safety of passengers avoiding corona spread. Their prices are starting at Rs.49/day. They also offering pick up scooter from anywhere and drop off anywhere at the very low cost of RS 6/Km. Weekly and monthly rental packs available from Rs.49/day. They are also providing the shopping option who wants to buy a two wheeler.

Bounce official site:  https://bounceshare.com/

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