Cash burn across the rapidly growing instant househelp sector rose 14% month-on-month (MoM) to $16-17 million in June, according to industry executives, as competition for customers intensified. In May, the combined cash burn of Urban Company’s InstaHelp, Snabbit, and Pronto stood at $14-15 million. The higher spending helped revive demand, which had sputtered in May, the executives said.
Cash burn refers to the amount of money a startup spends — in excess of its revenues — over a given period to fund its operations.
