- Founded: 2017
- Ceased Operations: 2023
What did Friyey do?
Friyey was a coworking space provider that offered workspaces in restaurants, pubs, and clubs during the morning hours, when these places witness less footfall. Friyey had over 500 restaurant partners and more than 24,000 remote workers accessing its spaces. Friyey’s concept was simple but ingenious. By offering workspaces in underutilized spaces, Friyey was able to provide a more affordable and flexible alternative to traditional coworking spaces. This made Friyey a popular option for remote workers and freelancers, who were increasingly looking for ways to save money on workspace costs.
In 2020, Friyey raised seed funding from angel investor Tarun Bhalla. This funding was used to expand the company’s operations and to launch new features, such as a mobile app.
Who started Friyey?
Founder Yogesh Thore
Why did Friyey go out of business?
The pandemic led to a decline in demand for coworking spaces, as many companies moved their employees to remote work. This made it difficult for Friyey to generate enough revenue to cover its costs.
Friyey was unable to secure further funding in the face of the pandemic. This made it difficult for the company to expand its operations and to launch new features.