Covid-19 pandemic and the suddenly announced lockdown to prevent its spread, has led the economy to a difficult position. Each anf every sector has faced immense droppings in earnings. Here is the list of 6 biggest startup companies of India which are also the biggest loss making companies of 2020.
Let us see what are the 6 loss making startups in India in 2020.
1) Ola:-
It was the first car aggregator company in India. Lockdown affected in hospitality, travel and mobility sectors the most. Ola is no different. This company is facing 90% loss during lockdown. It has fired over 1400 employees.
2) Zomato:-
This food tech startup of India became unicorn after 10 years of formation in 2018. It had a consolidated loss of ₹2198 crore in the ending of March,2020. But it declared in July that its revenue doubled to ₹394 million.
3) Flipkart:-
One of the most famous start ups in India, Flipkart reported a massive loss of ₹3835 crores last fiscal year. Even much before the pandemic, in 2018-19 fiscal year, Flipkart registered a loss of ₹3837 crore.
4) Paytm:-
This startup company gained huge popularity as a payment gateway. But now it seems to lose the game to its competitors. In the first quarter of 2020, Paytm has faced a huge loss of ₹4217 crore.
5) Swiggy:-
This popular online food ordering and delivery platform which had become unicorn in just 4 years. But in the first quarter of this year, Swiggy faced a huge loss of ₹2363 crore last fiscal year.
6) Big Basket:-
This famous online grocery marketplace had faced tough competitions right from the beginning. It faced a loss of ₹348 crore in FY19 which is just the double of the previous fiscal year.
