Economic Hardships Take a Toll on Iranian Startups

Major Iranian online marketplace Bamilo announced Wednesday that the firm has been forced to cut jobs and downsize due to economic hardships and falling revenues. 
In a statement published on Bamilo’s Twitter account, the online market place said it has been forced to shut down some sections responsible for selling goods ales no longer in demand.
The statement further adds that henceforth Bamilo will focus on selling Fast-Moving Consumer Goods (FMCG). FMCGs, also called Consumer Packaged Goods (CPG), are products that are sold quickly and at a relatively low cost. Examples include non-durable goods such as packaged foods, beverages, toiletries, over-the-counter drugs, and other consumables.