Singapore-based food ordering startup Eatsy ceased all operations in April 2020, resulting in the layoff of its entire workforce of approximately 20 employees across Singapore and Indonesia. The company, which operated in the food tech and restaurant ordering industry, had struggled financially, reporting only S$66,200 in revenue against a net loss of S$912,700 for the fiscal year ending June 2019. Founder Shaun Heng stated that the team received assistance transitioning to other roles, with Heng himself moving to a position at CoinMarketCap in May. The closure highlights the challenges faced by startups in the competitive online food delivery sector.
