Cameo lays off almost a quarter of its employees, including its chief executive officer
Cameo, the startup behind the video app that lets users pay celebrities with personalized short greetings, has laid off a large chunk of its workforce. According to Cameo CEO Steven Galanis, the company has parted ways with 87 employees. That number, that protocol, including top executives like CTOs and CPOs, make up about 25 percent of the company’s employees.
“I have made the painful decision to give up 87 beloved members of Cameo Fameo,” Galanis said on Twitter. He told employees that the company was hiring too quickly and falling short of revenue expectations. The startup has raised $165 million and is valued Spring before.
Galanis, a Web3 enthusiast who once compared the growing movement of the Americas, calling it “a brutal day at the office.” In recent months, Galanis has broadened Cameo’s horizons from celebrity and creator videos. The news of the layoff also came a day after the company announced it with Snap to provide a new ad product for Snapchat.
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