With uncertainty looming large, specially in the U.S. as President Donald Trump has gone on an overdrive, to repeal or change existing laws and concerns over global growth, startups are bracing up for interesting times. But some are also trying to make a point.
Nurx Gives Away Free Birth Control Medication, Takes A Stand Against Trump
U.S. President Donald Trump has always been very vocal about his intention to revoke the Patient Protection and Affordable Care Act, popularly known as ObamaCare. He has also stopped all federal funding to global health organisations which are pro-abortion.
U.S.-based contraceptive delivery startup, Nurx, decided to give away free birth control medication to its customers, as a sign of protest against the U.S. government's decision to stop federal funding and its decision to repeal ObamaCare, using the promo code #AlternativeFacts.
We learned a new term last month: '#AlternativeFacts.' 🤔Here's a fact fact: we're giving away #FreeBirthControl at 💖https://t.co/7aJhiTfFd5💖 pic.twitter.com/q75NZ2hP84
Founded in 2014, the startup delivers contraceptives and anti-HIV medication at its customers' doorsteps with out them having to get a prescription. The startup is associated with a number of doctors in the U.S., who the company claims write out the prescription for the orders received.
In November 2016 the startup bagged $5.3 million in Series A funding from Union Square Ventures, according to TechCrunch.
New York-Based Media Startup Lays Off 1/3rd Of Its Workforce
Social media startup Odyssey has laid off over one-third of its workforce in January, just a year after raising $25 million from institutional investors.
Co-founder and CEO Evan Burns confirmed the news to Business Insider. While the cut was across the board, a large part of the editorial team was sent packing. Twitter too, saw a few reactions to the news.
Failing platform @TheOdyssey sends dumb template message to angry EICs. Clueless! pic.twitter.com/utQ3a37Ibs
Deeply saddened by your decisions to cut such amazing mentors from my community. This is the second time. I will not allow this @TheOdyssey
The cut was necessary because the startup “wasn't able to scale”, said Burns to Business Insider.
Odyssey has raised $32 million till date, according to various news reports.
Snap Inc Looking To Launch Accelerator While Prepping For IPO
Snap Inc., owner of Snapchat has teamed up with Interpublic Group of Companies (IPG) in a bid to launch a joint startup investment fund according to a report by The Wall Street Journal.
IPG's digital marketing agency, R/GA, will select 10 startups for the accelerator. While Snap will provide the expertise and its executive's knowledge, IPG will provide resources and tap its clients which will serve as mentors. The startups, in return, will give equity stake to Snap and R/GA.
The accelerator, named R/GA Ventures, will host the selected startups for over three months, the report mentioned.
Also Read: Venture Firms to See Windfall From Snap's IPO, But Two Stand Out
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