Travel startups may be among the hardest-hit businesses from the Coronavirus outbreak.
Vacasa ($PRIVATE:VACASA), once billed as Oregon's top startup, has let go of a sizeable chunk of its 6,000 person workforce, and reportedly cut hours and pay for others, as travel globally has ground to a standstill.
The company cut nearly all of its job postings, quickly dropping from nearly 500 openings after years of growth, to about a dozen virtually overnight. Startups all over the world are getting hurt by the economic slowdown, and many that didn't manage cash as well as they managed their scale are now paying the price.
The travel business is getting battered, and startups from corporate expense management to luggage disruptors are being hit hard. Legacy businesses from airlines to cruise operators are feeling the same pain.
And, then, there's Vacasa's Facebook ($FB) engagement. It's probably not pretty; we can't say for sure, because all of the comments have been hidden at the company's Facebook page. A quick review of emojis being used doesn't suggest positive sentiment.
Vacasa is far from the only vacation and travel startup to be caught flat-footed in its Coronavirus response plan, and others - like Sonder - have seen similar frustration from consumers.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
Further Reading:
- Nobody is talking about Airbnb
- Opendoor and Compass data shows how startups confront property market shutdown
- Sonder is getting the wrong kind of social media chatter right now
