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{{Infobox company |
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| name = Zirtuall |
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| founded = 2011 |
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| hq_location = Columbus, OH |
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| parent = [[Startups.com]] |
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| website = {{URL|zirtual.com}} |
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}} |
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In an August 10, 2015 email to customers, Zirtual announced a cessation of operations until further notice. |
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| ⚫ | Zirtual is considered a part of the [[sharing economy]], similar to ride-sharing services Uber and Lyft, car-sharing service Zipcar, and home-sharing service Airbnb.<ref>Hamari, J., Sjöklint, M., & Ukkonen, A. (2015). [https://ssrn.com/abstract=2271971 "The Sharing Economy: Why People Participate in Collaborative Consumption"]. ''Journal of the Association for Information Science and Technology''.</ref><ref>Sundararajan, Arun. [http://blogs.hbr.org/cs/2013/01/from_zipcar_to_the_sharing_eco.html "From Zipcar to the Sharing Economy"]. January 3, 2013. ''Harvard Business Review''. Retrieved May 26, 2015.</ref> Zirtual assigns ZAs to serve multiple clients within their time zone to perform administrative tasks. Each client, however, interacts with one, dedicated assistant. ZAs perform duties such as: responding to emails, scheduling meetings and appointments, researching and ordering products, services and gifts, making travel arrangements, coordinating events, performing market research, and other tasks as requested. |
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"It is with an incredibly heavy heart that I have to send this message. As of today, August 10th 2015, Zirtual is pausing all operations. |
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Zirtual hires VAs as independent contractors.<ref>Zirtual Company Overview. [https://www.firstjob.com/companies/zirtual/ FirstJob.com]. Retrieved June 1, 2015.</ref> |
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Due to a combination of market circumstances and financial constraints we must re-organize our current structure if we are to successfully serve you in the future." |
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The company employs over 400 virtual assistants, called “Zirtual Assistants” or ZAs, in 39 states, making it an all U.S.-based workforce, that serves clients in both the U.S. and internationally.<ref>[https://www.crunchbase.com/organization/zirtual CrunchBase]. Retrieved June 1, 2015.</ref> [[Zappos.com]] CEO [[Tony Hsieh]] was a [[Seed money|seed round]] investor and is an active board member and advisor to the company. |
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| ⚫ | Zirtual was founded by Maren Kate Donovan, though she has had no part in the company since its 2015 implosion. Donovan launched her first startup in college selling jewelry on eBay. While bartending to pay for college, she launched a second business, a social marketing firm powered by offshore assistants and remote-working college students. During this process, she started the blog “Escaping the 9 to 5.”<ref>Donovan, Maren Kate. [http://www.escapingthe9to5.com/ Escaping the 9 to 5]. Retrieved June 1, 2015.</ref> Donovan developed the Zirtual business model in 2010, during the four-month program at [[The Founder Institute]], an entrepreneur training, and startup launch incubator program, and launched the company upon graduation. |
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| ⚫ | Zirtual is considered a part of the [[sharing economy]], similar to ride-sharing services Uber and Lyft, car-sharing service Zipcar, and home-sharing service Airbnb.<ref>Hamari, J., Sjöklint, M., & Ukkonen, A. (2015). [ |
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| ⚫ | In January 2013, Zirtual acquired $2 million in seed funding from Zappos.com founder Tony Hsieh, the VegasTechFund, and [[Mayfield Fund]].<ref>Farr, Christina (January 14, 2013) “Zappos CEO invests in Zirutal, a virtual assistant service.” [https://venturebeat.com/2013/01/14/zappos-ceo-invests-in-zirtual-a-virtual-assistant-service/ VentureBeat News]. Retrieved June 1, 2015.</ref> In October 2014, Zirtual received $250,000 in debt financing from TenOneTen Ventures and Melo7 Tech Partners. In December 2014, Zirtual secured an additional $2 million as a convertible note from TenOneTen Ventures, Mayfield Fund, Structure Capital, 10.10.10, [[Jason Calacanis]], VegasTechFund and Recruit Strategic Partners. |
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Zirtual hires ZAs as full-time employees, rather than [[independent contractors]], providing employment benefits such as health insurance, paid vacation, on-the-job training, growth incentives, and 401k program.<ref>Zirtual Company Overview. [https://www.firstjob.com/companies/zirtual/ FirstJob.com]. Retrieved June 1, 2015.</ref> This full-time employment model safeguards Zirtual against lawsuits related to employment status in the [[sharing economy|collaborative consumption]] industry, such as those faced by Uber and Lyft.<ref>Rogers, Kate (March 16, 2015). “What the Uber, Lyft lawsuits mean for the US economy.” [http://www.cnbc.com/id/102503520 CNBC Small Business]. Retrieved June 1, 2015.</ref><ref>Kessler, Sarah (February 17, 2015). “The gig economy won’t last because it’s being sued to death.” [http://www.fastcompany.com/3042248/the-gig-economy-wont-last-because-its-being-sued-to-death Fast Company]. Retrieved June 1, 2015.</ref><ref>O’Donovan, Caroline (April 27, 2015). “Here are the on-demand companies getting rid of contract labor—and why.” [http://www.buzzfeed.com/carolineodonovan/here-are-the-on-demand-companies-using-full-time-labor-and-w#.tuWrxkNE0P BuzzFeed News]. Retrieved June 1, 2015.</ref> |
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In an August 10, 2015 email to customers, Donovan announced a cessation of operations until further notice. "It is with an incredibly heavy heart that I have to send this message. As of today, August 10th 2015, Zirtual is pausing all operations. Due to a combination of market circumstances and financial constraints we must re-organize our current structure if we are to successfully serve you in the future." |
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On August 11, former customers were notified that the company would resume operations by August 17. In an interview with Fortune.com, Donovan discusses what went wrong with the finances. Startups.com, the parent company of services such as Launchrock, Clarity, and Fundable, acquired Zirtual in an all-stock transaction.<ref>{{Cite web|title = On-demand startup Zirtual will be back in business thanks to Startups.co|url = http://fortune.com/2015/08/12/zirtual-returns-startups-co/|website = Fortune|access-date = 2015-08-12|date = August 12, 2015|last = Kokalitcheva|first = Kia}}</ref> |
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| ⚫ | Zirtual was founded by Maren Kate Donovan, |
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Donovan has been a guest contributor to numerous media outlets, including Fortune, Fox Business News, Recruiter and Bloomberg on the subjects of mentorship, sharing economy, telecommuting and entrepreneurship.<ref>Donovan, Maren Kate (May 22, 2015). “The easiest way to find a mentor.” [https://fortune.com/2015/05/22/maren-kate-donovan-importance-of-a-mentor/?utm_content=15239913 Fortune.com]. Retrieved June 1, 2015.</ref><ref>Donovan, Maren Kate (April 22, 2015). “How to avoid burnout at work.” [https://fortune.com/2015/04/22/maren-kate-donovan-staying-motivated/ Fortune.com]. Retrieved June 1, 2015.</ref><ref>Author profile – Maren Kate Donovan. [http://fortune.com/author/maren-kate-donovan/ Fortune.com]. Retrieved June 1, 2015.</ref><ref>Fallon, Nicole (October 10, 2014). “8 work-from-home myths debunked.” [http://smallbusiness.foxbusiness.com/legal-hr/2014/10/10/8-work-from-home-myths-debunked/ Fox Business Small Business Center]. Retrieved June 1, 2015.</ref><ref>“In the Loop” [http://www.bloomberg.com/news/videos/b/41a773b8-a922-49f5-8587-f74e07066464 Bloomberg Television] (May 19, 2015). “Virtual Personal Assistants for Business Realities.” Retrieved June 1, 2015.</ref><ref>Kosinski, Matthew (April 9, 2015). “Not just for Millennials: 4 reasons why baby boomers should think about telecommuting.” [https://www.recruiter.com/i/not-just-for-millennials-4-reasons-why-baby-boomers-should-think-about-telecommuting/ Recruiter.com]. Retrieved June 1, 2015.</ref> |
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| ⚫ | In January 2013, Zirtual acquired $2 million in seed funding from Zappos.com founder Tony Hsieh, the VegasTechFund, and [[Mayfield Fund]].<ref>Farr, Christina (January 14, 2013) “Zappos CEO invests in Zirutal, a virtual assistant service.” [ |
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The company is an active participant in the Downtown Las Vegas project aimed at revitalizing downtown Las Vegas.<ref>Pratt, Timothy (October 19, 2012). “What happens in Brooklyn moves to Vegas.” [http://www.nytimes.com/2012/10/21/magazine/what-happens-in-brooklyn-moves-to-vegas.html?pagewanted=all&_r=1 The New York Times Magazine]. Retrieved June 1, 2015.</ref><ref>The Downtown Project. http://www.downtownproject.com/</ref> |
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On August 10, 2015 Zirtual abruptly shut down their company <ref>Carson, Biz (August 10, 2015). “A startup blew up overnight and laid off its 400 employees via email with no warning” [http://www.businessinsider.com/zirtual-suddenly-laid-off-400-employees-via-email-2015-8#ixzz3iSwYZ1mP |
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Business Insider]. Retrieved August 10, 2015.</ref> and disappeared. The company sent an email to its 400 employees stating that they had ceased operations and also posted at their company blog <ref>(August 10, 2015). “Zirtual: Standby” [https://blog.zirtual.com/2015/08/10/975/ |
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Zirtual Blog]. Retrieved August 10, 2015.</ref> that they had paused operations and apologized for the inconvenience. |
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== Awards & Recognition == |
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Donovan was recognized by [[Entrepreneur magazine]] as an Entrepreneur to Watch at the 2014 [[South by Southwest]] festival in Austin, Texas.<ref>Iliaff, Rebekah (March 17, 2014). “SXSW’s entrepreneurs to watch.” [http://www.entrepreneur.com/slideshow/232205 Entrepreneur]. Retrieved June 1, 2015.</ref> She has also been featured in CNN Money 40 Under 40 to Watch,<ref>VanderMey, A., Cendrowski, S., Leahey, C., Arora, R., Newmyer, T., Dunn, C., Epstein, E., Roberts, D. (September 13, 2013). “40 Under 40: Ones to Watch.” [http://fortune.com/2013/09/19/40-under-40-ones-to-watch/?iid=40Under13_lp_arrow1 Fortune.com]. Retrieved June 1, 2015.</ref> served as a moderator at the 2015 Collision Conference in Las Vegas and is a regular contributor to Fortune’s Most Powerful Women column.<ref>Collision Conference. https://collisionconf.com/speakers. Retrieved June 1, 2015.</ref><ref>Most Powerful Women, [http://fortune.com/author/maren-kate-donovan/ Fortune.com]. Retrieved June 1, 2015.</ref> |
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==References== |
==References== |
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[[Category:Online companies of the United States]] |
[[Category:Online companies of the United States]] |
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[[Category:Companies based in Las Vegas |
[[Category:Companies based in Las Vegas]] |
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[[Category:2011 establishments in Nevada]] |
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[[Category:Business services companies established in 2011]] |
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[[Category:American companies established in 2011]] |
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Latest revision as of 16:21, 2 October 2024
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| Founded | 2011 |
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| Headquarters | Columbus, OH |
| Parent | Startups.com |
| Website | zirtual |
Zirtual, founded in 2011, is a privately held American company that provides virtual assistant services to professionals, entrepreneurs and small corporate teams. Zirtual is headquartered in Columbus, OH, under the parent company Startups.com.
Zirtual is considered a part of the sharing economy, similar to ride-sharing services Uber and Lyft, car-sharing service Zipcar, and home-sharing service Airbnb.[1][2] Zirtual assigns ZAs to serve multiple clients within their time zone to perform administrative tasks. Each client, however, interacts with one, dedicated assistant. ZAs perform duties such as: responding to emails, scheduling meetings and appointments, researching and ordering products, services and gifts, making travel arrangements, coordinating events, performing market research, and other tasks as requested.
Zirtual hires VAs as independent contractors.[3]
Company history
[edit]Zirtual was founded by Maren Kate Donovan, though she has had no part in the company since its 2015 implosion. Donovan launched her first startup in college selling jewelry on eBay. While bartending to pay for college, she launched a second business, a social marketing firm powered by offshore assistants and remote-working college students. During this process, she started the blog “Escaping the 9 to 5.”[4] Donovan developed the Zirtual business model in 2010, during the four-month program at The Founder Institute, an entrepreneur training, and startup launch incubator program, and launched the company upon graduation.
In January 2013, Zirtual acquired $2 million in seed funding from Zappos.com founder Tony Hsieh, the VegasTechFund, and Mayfield Fund.[5] In October 2014, Zirtual received $250,000 in debt financing from TenOneTen Ventures and Melo7 Tech Partners. In December 2014, Zirtual secured an additional $2 million as a convertible note from TenOneTen Ventures, Mayfield Fund, Structure Capital, 10.10.10, Jason Calacanis, VegasTechFund and Recruit Strategic Partners.
In an August 10, 2015 email to customers, Donovan announced a cessation of operations until further notice. "It is with an incredibly heavy heart that I have to send this message. As of today, August 10th 2015, Zirtual is pausing all operations. Due to a combination of market circumstances and financial constraints we must re-organize our current structure if we are to successfully serve you in the future."
On August 11, former customers were notified that the company would resume operations by August 17. In an interview with Fortune.com, Donovan discusses what went wrong with the finances. Startups.com, the parent company of services such as Launchrock, Clarity, and Fundable, acquired Zirtual in an all-stock transaction.[6]
References
[edit]- ^ Hamari, J., Sjöklint, M., & Ukkonen, A. (2015). "The Sharing Economy: Why People Participate in Collaborative Consumption". Journal of the Association for Information Science and Technology.
- ^ Sundararajan, Arun. "From Zipcar to the Sharing Economy". January 3, 2013. Harvard Business Review. Retrieved May 26, 2015.
- ^ Zirtual Company Overview. FirstJob.com. Retrieved June 1, 2015.
- ^ Donovan, Maren Kate. Escaping the 9 to 5. Retrieved June 1, 2015.
- ^ Farr, Christina (January 14, 2013) “Zappos CEO invests in Zirutal, a virtual assistant service.” VentureBeat News. Retrieved June 1, 2015.
- ^ Kokalitcheva, Kia (August 12, 2015). "On-demand startup Zirtual will be back in business thanks to Startups.co". Fortune. Retrieved 2015-08-12.