Cameo publicizes extra layoffs as celeb greeting market shrinks | TechCrunch

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 staff. Reached by TechCrunch, CEO Steven Galanis confirmed that Cameo determined to “cut back the scale of our crew,” however the govt didn’t acknowledge the variety of jobs the agency would get rid of. The Information first reported the information.

The transfer reportedly leaves Cameo with fewer than 50 workers — a significant shift from the “nearly 400” staffers Galanis stated the agency had again when enterprise was actually booming.

In Might 2022, Cameo laid off 87 staff. On the time, Galanis stated in a statement that Cameo had “employed lots of people shortly” so it might “help each fan and expertise demand in the course of the pandemic lockdowns.” Then the market “quickly modified,” Galanis added.

The CEO known as that call a course correction so the agency might “regain focus in addition to obtain the agility to navigate new challenges,” similar to web3. Web3 has since failed to live up to the hype.

In his assertion in the present day, Galanis referenced the sooner layoffs. “We believed we right-sized our enterprise with our final discount however because the financial circumstances proceed to sluggish progress, Cameo will sharpen its focus with a extra streamlined crew,” the manager stated.