Cameo, an internet site for ordering video greetings from celebrities, is downsizing once more.
The Chicago startup, which was valued at greater than $1 billion in 2021, intends to put off 80 employees. Reached by TechCrunch, CEO Steven Galanis confirmed that Cameo determined to “scale back the scale of our staff,” however the govt didn’t acknowledge the variety of jobs the agency would remove. The Info first reported the information.
The transfer reportedly leaves Cameo with fewer than 50 workers — a serious shift from the “practically 400” staffers Galanis mentioned the agency had again when enterprise was actually booming.
In Could 2022, Cameo laid off 87 employees. On the time, Galanis mentioned in a assertion that Cameo had “employed lots of people rapidly” so it might “assist each fan and expertise demand through the pandemic lockdowns.” Then the market “quickly modified,” Galanis added.
The CEO referred to as that call a course correction so the agency might “regain focus in addition to obtain the agility to navigate new challenges,” comparable to web3. Web3 has since didn’t stay as much as the hype.
In his assertion at the moment, Galanis referenced the sooner layoffs. “We believed we right-sized our enterprise with our final discount however because the financial situations proceed to sluggish development, Cameo will sharpen its focus with a extra streamlined staff,” the chief mentioned.