EdTech Startup Frontrow Officially Shuts Down Operations Amidst Acquisition Talks
- ByStartupStory | July 10, 2023
Frontrow, an edtech startup backed by Lightspeed Venture Partners, has officially shut down its operations on June 30, following recent reports of potential sale or closure. Ishaan Preet Singh, co-founder of Frontrow, confirmed the decision, emphasizing that continuing to burn money would be impractical.
Singh stated, “We are still exploring a couple of potential acquisitions of the intellectual property and the team, or we will return the capital.” The company had previously laid off 75% of its workforce and expressed intentions to rebuild from scratch. With two rounds of layoffs in May and October 2022, Frontrow was left with approximately 35-40 employees.
Reports had earlier surfaced about Lightspeed Venture Partners and other backers seeking potential acquirers for Frontrow. Singh mentioned that a decision will be made in the next few months, in consultation with the company’s board.
Frontrow, founded in 2020 by Singh, Shubhadit Sharma, and Mikhil Raj, had notable investors including Elevation Capital, Lightspeed India, Eight Roads Ventures, GSV Ventures, and Gaurav Munjal of Unacademy.
The startup offered an e-learning platform covering comedy, sports, creative arts, and hobbies. However, Singh acknowledged that the business model struggled to scale effectively, and the company’s growth primarily resulted from increased investments in marketing and sales staff.
Frontrow’s closure reflects the challenges faced by several edtech companies, including Udayy and Lido, due to a decline in demand for online learning.
Follow Startup Story
Related Posts
