SundaySky, an Israeli personalized video platform company, has laid off 24 employees, representing 13% of its workforce across Israel, the US, and Japan. This reduction coincides with the company selling a controlling stake to US private equity firm Clearhaven Partners for over $100 million, a significant shift from its earlier plans for a $280 million IPO on the Tel Aviv Stock Exchange. The layoffs, announced on July 11, 2022, are part of the restructuring following the acquisition, as the company, which reported over $40 million in annual recurring revenue in 2021, pivots its strategy under new ownership in the competitive video software industry.
