StreamElements Layoffs
August 2023
StreamElements announced a layoff affecting 60 employees (35% of its workforce) in August 2023. The company operates in the Media sector.
60
35%
Aug 17, 2023
About
StreamElements, an Israeli startup providing tools for content creators, has laid off 60 employees, representing 35% of its 160-person workforce. This marks the company's third round of layoffs, following cuts in June 2022 and January 2023. The company cited challenging market conditions and a persistent slowdown in the advertising market, noting that new client budgets did not offset reductions from existing clients. To achieve sustainable growth and profitability without further external funding, StreamElements implemented these workforce reductions. The startup, founded in 2017, had raised $100 million in 2021 led by SoftBank Vision Fund 2.
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