With the recent news on TinyOwl laying off more people the company in a press statement stated that while the app has witnessed remarkable growth in the past year, the current focus for the company is to now attain a viable business model from a long term perspective, in consideration of the current market challenges being faced by food ordering players in India.
“TinyOwl has undergone an organizational restructuring to increase its efficiency and productivity, involving eliminations of certain positions from the company, as part of this process,” added the press release.
In alignment of the current organization focus, TinyOwl will be scaling back nationally, with optimization of resources across verticals being the key focus. This development has been made on a strategic level as a step towards sustainability and growth for the brand in the current challenging market scenario. While TinyOwl will continue to operate in six cities, the new model will be initially tested in major metros Mumbai and Bangalore.
Talking about the recent developments, Harshvardhan Mandad, CoFounder & CEO, TinyOwl, said, “The current strategic focus for us as a company is to build TinyOwl as a sustainable, profitable and scalable business, working towards the ‘big dream’. With the current take rate being 45 – 60, we are looking at a more commensurate operational structure. Every business goes through its own unique journey, with some hits and definitely some misses. We have had our share too. But the important aspect is to learn from your journey along the way and continue to do what is best for the brand. We thank all our employees for their contributions in making TinyOwl one of the fastest growing startup brands in the market today.”
With the refurbishing of the brand, the company is aiming at developing an enhanced ecosystem of business management with a strong and robust backend looking at long term sustainability.
