Quip's cofounder and chief executive Simon Enever. And, as a standard bearer for the new breed of direct-to-consumer brands, Quip's struggles and ability to withstand the coronavirus could serve as an important test case for startups facing the biggest business threat in a generation. The restructuring was intended to re-focus Quip on its core business of selling oral care products directly to consumers.īut just a few months later Quip now finds itself confronting a much different crisis, which no amount of planning or experience could have prepared it for. The January layoffs, which affected 17 employees, about 10% of Quip's staff, was in many ways a familiar tale of a buzzy startup backed by millions in venture capital, paying the price for unrealistic growth plans and a scattershot strategy. "Some people were more blindsided and upset," said a former employee. They were taking a tally of who had been laid off. But the Quip employees were not celebrating. The startup had just wrapped up an eventful year with a $16 million marketing blitz showcasing its growing portfolio of products. On a day in January, employees of the high-flying toothbrush startup Quip started drinking early at a food market in Brooklyn's Dumbo neighborhood. Visit Business Insider's homepage for more stories.
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