iPrice Group lays off 20 per cent of staff

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iPrice Group CEO Paul Brown-Kenyon

iPrice Group, which runs a slew of worth comparability platforms in Southeast Asia, introduced in the present day it’s shedding 20 per cent of its staff.

The layoffs are a part of the group’s a number of measures to focus the enterprise on its core mission, “to assist individuals get monetary savings” purchasing on-line.

The Kuala Lumpur-headquartered iPrice stated in a press release that it will comply with all contractual and authorized necessities and helps the retrenched staffers discover new alternatives.

The choice comes three months after iPrice closed a US$5 million funding from Japanese Conglomerates Itochu Company and KDDI Company.

Additionally Learn: Woowa Brothers injects US$1.5M into Malaysian purchasing aggregator iPrice

“[The] iPrice crew is a robust neighborhood, so it was a troublesome resolution to cut back our employees in keeping with the refocus on our core enterprise,” stated group CEO Paul Brown-Kenyon. “With these modifications, nevertheless, we’re in a stronger place to ship on our core mission to assist individuals get monetary savings.”

iPrice Group operates beneath its personal model iPrice and thru varied partnerships with apps, resembling SmartPay (Vietnam), GoRewards (Philippines), Dwelling Credit score (Indonesia) Visense (Singapore), Robinsons rewards (Philippines) and Enhance (Malaysia). It additionally runs a website in Hong Kong.

Through the years, iPrice expanded the enterprise to supply a full-suite white-label market resolution for tremendous apps, together with BNPL suppliers and lately began constructing its app to capitalize on the 100mn+ customers who go to iPrice web sites yearly.

Globally, startups are going via a tough patch attributable to a number of causes, together with unfavourable market situations. Just lately, Tech In Asia reported that Indonesian edutech firm Zenius let go of greater than 200 staff, or over 20 per cent of its complete 900+ workforce.

In India, a number of startups, resembling Mfine (digital well being), Vedantu (edutech), and Cars24 laid off a whole bunch of staff.

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