IPO-bound D2C beauty unicorn Mamaearth is shutting down two verticals of its acquired platform Momspresso, resulting in layoffs of 80-100 employees. This decision impacts the MyMoney influencer engagement platform and the brand marketing business, which have been loss-making. The move is part of a restructuring effort as Mamaearth prepares for its upcoming initial public offering, aiming to streamline operations and cut costs. The layoffs, which occurred recently, affected roles across tech, content, customer service, marketing, and product. Momspresso, acquired in 2021, continues to operate its core user-generated content platform.
