CityMall fires 191 employees within 3 months of raising $75 million in funding

Social commerce startup CityMall has fired 191 employees citing "structural changes across functions" at the company. CityMall said, "We've realised...there are certain roles...which had to be dissolved to align to our evolving business model and the current business environment." The move comes within three months of CityMall raising $75 million in funding at a valuation of $300-$350 million.