How Stitch Fix Fumbled a Make-or-Break Pivot Read Now

A Cameo NFT event in Beverly Hills in February. Photo courtesy of Cameo
Creator Economy
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Inside Cameo’s Layoffs; Twitch Star Kkatamina Says it Started With Minecraft

Photo: A Cameo NFT event in Beverly Hills in February. Photo courtesy of Cameo

Cameo emerged as one of the creator economy's stars during the pandemic, nabbing a more than $1 billion valuation last year and more than tripling its pre-pandemic workforce. Its layoffs – which we reported on earlier Wednesday – may be a precursor of what’s to come for creator economy startups. 

At an all-hands meeting earlier today, Steven Galanis, CEO and co-founder of the Chicago-based startup, told employees that the company was laying off more than 80 staffers, about a quarter of its workforce, according to one of the employees. The job cuts included several C-Suite executives, including chief technology officer Rob Post and chief product officer Nundu Janakiram, according to a source who heard the all-hands meeting. 

Galanis said the layoffs were necessary to “balance our costs with our cash reserves.” 

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