RigUp went from $300 million VC round to layoffs and a data breach - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Austin unicorn startup RigUp went from hiring 'at a rapid pace' to cutting 25% of staff in a matter of weeks. Now a data breach is adding to its woes.

, and lack of stimulus support badly hurt the startup because it relies on a healthy oil industry, employees say.

But a disastrous series of coronavirus-related events befell the high-flying startup, and the trouble may not be over yet: Security researchers say the startup, which managed oil workers' personal information, left a data breach open for weeks. The stunning reversal of fortune for one high-flying unicorn startup illustrates how quickly the economic shutdown triggered by COVID-19 changed the trajectory of some companies, and particularly startups in what had been a booming energy sector.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US weekly jobless claims hit 5.2 million as coronavirus layoffs continue - Business Insider'We wiped that out so fast. It's mindboggling,' said Heidi Shierholz, senior economist at the Economic Policy Institute. Well, Trump’s been trying to undo everything Obama did, so... mission accomplished... I guess. Making America Great .... after correcting for disastrous lack of preparation Jobs that will come back when the country reopens.
Source: BusinessInsider - 🏆 729. / 51 Read more »

WPP, Omnicom, and MDC Partners hit by furloughs and layoffs - Business InsiderCPB, Grey, and DDB were among the agencies that started to be impacted by the economic affects of the coronavirus. Page not found, please check the link, thank you. Pretty much if your business model depends on advertising for the next year or so you are screwed. business economics coronavirus advertising PM Modi SAID I respectfully bow to the people of India... coronavirus Covid_19 lockdown Modi
Source: BusinessInsider - 🏆 729. / 51 Read more »

Chase Q1 earnings reflect crisis preparation - Business Insider - Business InsiderChase's Q1 income was largely affected by an increase in credit costs as it builds up its reserve in preparation for the effects of the coronavirus PM Modi SAID I respectfully bow to the people of India... coronavirus Covid_19 lockdown Modi
Source: BusinessInsider - 🏆 729. / 51 Read more »

A bar in Florida removed $10,000 from its walls to donate to staff - Business Insider'We always had an inside joke, 'If anything goes bad, at least we have the money on the wall,'' co-owner Juliana Sodre told Business Insider. there's always money in the banana stand Interesting!!!. 😒🤣🤷‍♀️
Source: BusinessInsider - 🏆 729. / 51 Read more »

Experts say several retailers to consider bankruptcy amid coronavirus - Business InsiderJCPenney is reportedly eyeing bankruptcy and experts say other department stores and mall brands may soon follow as coronavirus decimates the retail industry This could of been written every week for the last 10'years. Es que si quiebran estos monstruos, ¿que se deja para el pequeño comerciante colombiano? ¿QUÉ? GOOD! Now, we all should encourage local businesses and entrepreneurs to begin working again, for all of us!!
Source: BusinessInsider - 🏆 729. / 51 Read more »