糖心视频

The bad news just keeps coming for .

In the past 24 hours alone, two more SoftBank-funded startups are in the news for either confirmed or rumored layoffs: Colombian on-demand delivery unicorn this week , according to Axios. And Bloomberg published that discount lodging provider reportedly 鈥渋s firing thousands of staff across China and India.鈥�

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Rappi told that it would be letting go of about 6 percent of its workforce, over 300 people. The job cuts are taking place just over eight months after an investment of 鈥渦p to $1 billion鈥� from The raise, which we covered here, was done at a pre-money valuation of $2.5 billion, according to a Bloomberg .

Since its inception in 2015, Rappi raised a total of 鈥攊ncluding a $200 million in August 2018 that took it to unicorn status, according to the startup鈥檚 profile. 鈥檚 led that round, which included participation from existing investors including and .

Meanwhile, Oyo Hotels is reportedly laying off 5 percent of its 12,000 鈥渆mployees in China partly due to non-performance鈥� and 12 percent of its 10,000 staff in India, according to Bloomberg, which cited unnamed sources. It also plans to cut another 1,200 jobs in India over the next three to four months, the publication said.

This news isn鈥檛 entirely shocking, though, when you consider what our former EIC Alex Wilhelm described last October as Oyo鈥檚 鈥渃omplicated financing efforts.鈥� The company has raised a staggering $3.2 billion in venture and debt financing since it was founded in 2012, according to .

The SoftBank Curse?

All this negative news comes on the heels of pizza-making robot startup laying off 80 percent of its employees, and covered more in-depth by our own Natasha Mascarenhas.

It also follows a tumultuous year for SoftBank, which has seen its share of negative headlines. The Japanese investment conglomerate has been accused of overinflating valuations with its fat checks, and it鈥檚 not ending well for many companies (WeWork and Uber, we鈥檙e looking at you.) But the practice of investing too much, perhaps too soon, may be catching up with SoftBank. Earlier this week, that SoftBank is cutting its ties with startup investments, even after signing term sheets. That鈥檚 not good.

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