Another one of SoftBank backed start up is in troubled waters

by rjsh927

Fair, a car subscription start-up that partners with Uber and is backed by SoftBank, will cut 40% of its workforce with immediate effect. Several co-founders and CFO are also being let go.

www.ft.com/content/8e299ea8-f647-11e9-a79c-bc9acae3b654

The start up is only 26 months old and is based in California. In a previous 350 M$ funding round, the company was valued at well above 1B$. To date Fair has raised about 500 M$ in equity and 1.5 B$ in debt.

techcrunch.com/2018/12/20/fair-com-gets-385m-led-by-softbank-to-grow-its-flexible-car-ownership-model-globally/