More layoffs: At least 50 employees from Minute Media are going home

If anyone had any doubts as to whether high-tech companies have gone through their difficult period, he should be fooled. Minute Media has developed a video advertising platform that enables the production, editing and monetization of content by content and sports brands, as well as the company's own sports and culture content brands. The company will lay off over 50 employees - about a tenth of its employees worldwide - with 15 of them being at the company's headquarters in Israel.
Mint was even about a year and a half ago on its way to an IPO on Wall Street for over a billion dollars, so going from an "immediate IPO" situation to layoffs indeed indicates real difficulties in a company that, like the other companies in the industry, benefited from the recruitments in 2020-2021.
Walkme Walkme -7.85%, which develops technology that simplifies the experience of using websites and cloud-based software by motivating and directing action, is also laying off workers, although at a lower rate than Mint - about 4% of the workers. These layoffs, which are also expected to include almost 50 employees, with less than 10 of them in Israel, reflect the deterioration in the company's activities, whose stock has fallen by 45% in the past year to a price of $9.8, representing a market value of $833 million. This is a 66% drop since the company started trading.
In June 2021, Vakami's securities began to be traded on the New York Stock Exchange at a value of $2.6 billion, and until that time the company had raised $307 million in 7 fundraising rounds, the last of which was in the amount of $90 million at a value of approximately $1.8 billion. About 4 months ago, the CFO of Vakami left the company, in what was already seen as the beginning of the financial difficulties.