Mr Gan, 25, whose current start-up is his third, said the squeeze is so bad that the 15-man firm has been forced to sideline its map service and take on general information technology and Web design jobs to survive.

The firm is not the only one in difficulty - several local digital media and technology start-ups have also become the latest victims of the global credit crunch as private investors pull out and cost-conscious customers cut back.

Read Chua Hian Hou's full story in Tuesday's edition of The Straits Times.