After 20 months of trying to raise funds, insurance startup Loop cuts staff

Quick Summary:

Loop, the car insurance company co-founded by Harlem Capital co-founder John Henry, has laid off staff as the company struggles with fundraising.  Henry took to Instagram to post the email his co-founder Carey Nadeau sent to impacted staff on June 16th.

Nadeu also posted the letter to LinkedIn.

However, according to a LinkedIn post by a former employee, the cuts impacted people who were insurance agents, as well as people in customer care, data analytics, marketing, software engineering and product.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Dominic-Madori Davis

Category: StartupsBusiness

Markets: United StatesIndia

Topics: Layoffs Loop Insurance Startups

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-17 @ 21:39:31 (2 weeks ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 1033 words

Reading Time: 6 minutes read

Sentences: 53 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 21290817

View Article Analysis

About TechCrunch

Main Topics: StartupsBusiness

Official Website: techcrunch.com

Year Established: 2005

Headquarters: United States

News Last Updated: 1 days ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #1

Publisher Details

Frequently Asked Questions