Rapid Layoffs
April 2023
Rapid announced a layoff affecting 115 employees (50% of its workforce) in April 2023. The company operates in the Finance sector.
115
50%
Apr 25, 2023
About
Rapid, formerly known as RapidAPI, a San Francisco-based API marketplace startup valued at $1 billion last year, has laid off approximately 115 employees, representing 50% of its workforce. The cuts, announced in late April 2023, are part of a significant restructuring under new CEO Marc Friend, who stated the company had grown too large and tried to compete on too many fronts, sacrificing agility. The layoffs affected teams across sales, talent acquisition, engineering, product, and marketing in offices spanning Europe, Tel Aviv, and San Francisco. This move aims to right-size the company, refocus its product strategy, and prioritize customer success in the competitive tech industry.
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