.jpg){kind=avatar}
.jpg){kind=avatar}
Funding to start-ups providing “on-demand” services across the world plunged 22% to $16.3bn in the last 12 months as contract workers and policymakers become sceptical of business models, according to a recent report from Goldman Sachs.
{
The drop largely affected ride hailing, food delivery and “other services with internet convenience advantages”, the report found. Private investors have soured on the start-ups as politicians scrutinise their use of contract workers and public investors become sceptical of lossmaking consumer businesses. Ride-hailing companies Lyft and Uber have faced pressure on both fronts, with investors sending their shares down about a third from initial public offering prices.
More posts by Gareth Jones
