August 12, 2020
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Benchmark-backed Optimizely confirms it has laid off 15% of staff – TechCrunch

Benchmark-backed Optimizely confirms it has laid off 15% of staff – TechCrunch

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OptimizelyThe San Francisco-based company that popularized the A / B testing concept has laid off 15% of its employees, TechCrunch said in a statement. The dismissal affects about 60 people, and the dismissed were provided with different levels of dismissal. Each employee was given 6 months of COBRA and allowed to keep their laptops.

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“Like many other companies around the world, Optimizely COVID-19 was affected. Today we had to make a heartbreaking decision to reduce the number of our employees, ”wrote Erin Flynn, head of human resources, in a statement to TechCrunch, adding that“ today’s difficult decision sets our business to further success. ”

The startup was founded in 2009 by Dan Siroker and Pete Kumen to help customers familiarize themselves with the various versions of the website, also known as A / B testing, to see which iteration works best. A year after its founding, the startup went through Y Combinator in 2010, and in 2013 he signed a lease for a 56,000-square-foot office in San Francisco.

Optimized last time raised $ 50 million Goldman Sachs D Series Fundingas a result, its total venture capital today is $ 200 million. Other investors are Index Ventures, Anddreessen Horowitz and GV.

In June, Optimizely said it handles more than 6 billion events per day. Customers include Visa, BBC, IBM, Wall Street Journal, Gap, StubHub and Metromile.

Optimizely was not listed as an application for a PPP loan, a program created by the government to help businesses avoid layoffs. Loans were met in Silicon Valley with controversy, as some venture-financed enterprises must seek additional capital from investors rather than the government.

Optimizely’s layoffs are somewhat surprising considering latest earnings reports this shows that corporate SaaS companies generally benefited from the coronavirus pandemic. In the world of online work, infrastructure and software are becoming increasingly important every day. Box, for example, helps people manage content in the cloud and exceeds expectations for adjusted profits and earnings. So why is Optimizely struggling?

There are plenty of reasons for layoffs, in addition to what the market thinks about business. Customers Optimzely is a company that deals a major blow to businesses, but also includes companies that fought during this pandemic, including StubHub and Metromile – both of which were layoffs.

Until layoffs slow downthe cuts themselves do not disappear. As the stocks show, now is an unstable time, and companies are looking for ways to maintain financial security.

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