Days after the invasion of Ukraine, ultrafast delivery startup Buyk declared bankruptcy and laid off all of its 900 American employees.
While Bocharov and Shishkov are not on any sanctions list, the actions against Sberbank affected their ability to continue to fund the business, according to theon March 17. So did the banking restrictions imposed by Putin on Feb. 28 that banned residents from sending money to bank accounts abroad.
The Washington Post in an email, “We are taking all necessary measures to isolate and stop any relationship with any sanctioned investor if this is mandated by regulation.” Alabi-Ajidagba, who was also in Chicago on a business trip, also noticed the Russians leaving the 35 to 40 group chats for employees on Telegram. When he reached out individually, he said, he was told they were clearing out old chat groups, which he found puzzling.
On Saturday, March 5, supply chain consultant Brittain Ladd, who had always been bullish on Buyk, started an intense conversation with Walker and an investor, Stefan Schimenes, with whom he was already working on a parcel delivery company, in the hope of buying or investing in Buyk, he told The Post.Walker had also approached Grubhub to invest — but Buyk collapsed before a deal could be finalized. “Given Buyk’s news, we ended our project,” Grubhub said in a statement.
“Sanctions were not the issue, as none of our investors, banks, or either of our founders were directly sanctioned. Rather, it was Putin’s restrictions on Russian banks being able to send money outside of Russia that impacted our funding,” Walker wrote in an email to The Post.“If you’re a delivery worker making $17 an hour, you don’t care if it’s U.S. or Russian sanctions,” Alabi-Ajidagba said. “It’s been painful and chaotic.
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