Bungalow – The SFO-based shared living rental platform has undergone a round of layoffs which impacted 35% of its workforce, on Wednesday.
Based on an internal announcement shared with the employees – a total of 70 employees seems to have been impacted by these layoffs.
The company hasn’t made an official statement yet, but we learn about the layoffs from the Impacted employees sharing their stories on Linkedin.
The 4-year-old company enhances the co-living rental space by providing a fully equipped kitchen, fully-furnished living room, and common areas. The Company had raised its valuation to over $600 million after its recent round of $75mn in equity funding led by Deer park road management co.
Bungalow could not be reached for comment.
Short Term/ Long Term Rental Real Estate is feeling the heat along with the Tech layoffs – Bungalow being the latest following the path of Sonder, Zumper.