The Guild, an Austin startup offering short-term stays at luxury apartment complexes, has laid off 38 people, The Information reported.
The startup has raised about $38M, including a $25M round we reported on in early January from Maveron, Convivialite Ventures, ATX Venture Partners and others. At the time, The Guild had 171 employees, including 110 at its Austin HQ.
Since co-founders Brian Carrico and Chris Herndon launched The Guild in 2016, the startup expanded from seven apartments at the Corazon on East 6th Street in Austin to more than 800 units in Austin, Dallas, Cincinnati, Denver, Miami and Nashville. And, at the time, it had plans to expand to a total of a dozen markets by 2021. Its website still shows Boston, Los Angeles and Philadelphia as markets it has "under construction."
The Guild didn't immediately respond to request for comment on the news Tuesday.
The news follows a strategic partnership between The Guild and fellow Austin startup Key Travel Concierge that was announced in a newsletter in January.
The layoffs also come just a week or so after the company announced it is donating 10 furnished upscale apartments in downtown Austin to UT students displaced by the dorm closures.
