A Karachi co-working space startup called Founder 2.0 has fallen behind on payments due to numerous vendors after their debut event. The group, created by self-styled business owners, has a track record of stalling payments to vendors and defrauding them.
At their debut event, the company employed a number of vendors, but ever since the event, they have refused to be paid. Despite successfully gaining significant digital, print, and electronic media coverage, Founder 2.0’s management has been providing justifications at the time of payment disbursement.
After receiving substantial media attention from them, Founder 2.0 declined to make the agreed-upon payment, according to the company’s PR firm, Mediahype. Founder 2.0 has refused to pay for services provided despite being featured in multiple prestigious newspapers and gaining accolades on social media, alleging that the electronic coverage did not meet their standards.
Shehr Bano Hussain, the general secretary of SWEF Pakistan and the CEO and co-founder of Founder 2.0, has been withholding payments due to inadequate electronic coverage. The business refuses to release a portion of the payment for rendered services notwithstanding requests and withholds payment until adequate electronic coverage is offered.
The PR firm will get in touch with the media community to exert pressure on the CEO of Founder 2.0 to make the necessary payments and to ask them to remove this vendor from future media promotions and coverage. Existing clients and vendors are forwarded a warning to exercise caution when dealing with such shady businesses.
The practises of Founder 2.0 demonstrate that they routinely hijack suppliers’ legitimate payments while feigning to manage non-profit organisations for the improvement of society.