How did business travel company Lola survive the pandemic?
At the start of 2020, Lola was a high flying startup that made booking and expensing business travel a breeze. Then the pandemic hit. Lockdowns and travel restrictions grounded airplanes across the globe. Tools that helped businesses work remotely soared in popularity while the hospitality and travel industries collapsed.Lola lost 97% of its business within two months and was forced to lay off most of its staff. Mike Volpe, the newly minted CEO, needed a plan that would help save the company from bankruptcy. This is the story of how he did it.