Startups

Deliveroo cuts staff, Grab pushing no-pay leave to slash costs

TECH firms Deliveroo and Grab are trimming costs by cutting staff and getting workers to go on no-pay leave, as the novel coronavirus outbreak continues to batter their businesses.

Enterprise Singapore appoints 14 new partners to nurture startups

ENTERPRISE Singapore (ESG) has added 14 new Accredited Mentor Partners (AMPs) to its Startup SG Founder scheme to groom local startups, with the appointments taking effect on May 1.

Grab staff urged to take no-pay leave; driver financial support may not extend past June 1

GRAB is urging its staff to take no-pay leave voluntarily as the novel coronavirus outbreak continues to batter its business. The ride-hailing firm also told its drivers that it may not be able to...

Downturn strikes swift blow to startup employees

THE startup scene is feeling the heat of the economic downturn as companies cut staff in an urgent bid to reduce cash burn.

Food delivery platforms deny profiting from surge in demand during virus crisis

GRABFOOD, foodpanda and Deliveroo said on Friday that their merchant commission rates are justified because they ensure that delivery riders are fairly paid and the cost of service is covered.

Startups trade near-term pain for customer loyalty

COVID-19 may have sent businesses scurrying to hoard cash, but some startups are willingly taking a hit to their revenues by rolling out relief measures for enterprise clients and partners.

Gojek gives drivers up to 100% rebate in commission during circuit-breaker

GOJEK is offering its drivers up to 100 per cent in rebate for commission fees, following the enhanced social-distancing measures by the Singapore authorities that landed a further blow to the...

Grab halves commissions for drivers, lowers criteria for weekly payout

GRAB is halving its commission rate for private-hire drivers from Monday till May 4, in light of the latest Covid-19 circuit-breaker measures that are expected to drive down demand for rides even...

Startups ride wave of digital entertainment as more stay indoors

USER activity is climbing higher and higher for digital entertainment startups in South-east Asia as more people stay indoors due to the Covid-19 pandemic. Companies ranging from an e-sports firm...

honestbee loses court protection from creditors

THE Singapore High Court has dismissed honestbee's application to convene a scheme meeting to restructure some US$230 million worth of debt, The Business Times has learned. This effectively opens...