MediaIN

GoNuts Layoffs

October 2022

GoNuts announced a layoff affecting 0 employees (100% of its workforce) in October 2022. The company operates in the Media sector.

People Affected

Percentage

100%

Announced Date

Oct 27, 2022

About

GoNuts, a Mumbai-based celebrity engagement startup in the media and entertainment industry, has shut down its B2C operations as of September 2022, resulting in layoffs for all employees in that vertical. The decision was driven by a failure to grow its target audience over three years, coupled with difficulties in securing venture funding amid a broader economic slowdown. While the exact number of affected employees is not specified, the company had raised over INR 7 crore from notable investors. GoNuts will continue operating as a B2B entity, with the founders engaging existing clients.