Donovan’s post on Medium also further detailed that the largest hit to their burn rate was the decision to move from independent contractors to full time employees. At the time of the pause, Zirtual had more than 400 virtual assistants in their network. According to Donovan’s Medium post, all work that was completed prior to the termination notice will be paid for, and checks or direct deposit transfers have already been initiated. For current clients, Zirtual has established an email address and number to reactivate their accounts: Clients who would prefer a refund will not be able to do so directly through Zirtual, but are advised to contact their bank or credit card company to reverse the charge. Over the past 3 years Zirtual raised more than $5M; however, the last few rounds were specifically for debt financing.
