Inobid is laying off 40 employees which make up 10% of its workforce

The Israeli company Inobid is laying off 40 employees, which make up 10% of its workforce. According to the latest report, the company, which operates in the field of digital advertising, employed about 400 workers.

Only in 2021 it recruited more than a hundred employees.
Inobid is one of the last SPAC issues to come out of Israel. The company went public at the end of 2021 at a value of 1.3 billion dollars and today trades at 300 million dollars. A year ago it purchased a British company for 160 million dollars.
The company mainly specializes in measuring the effectiveness of advertising campaigns - and more specifically, operates a platform for streaming and measuring television advertising. It was founded in 2007 by Zvika Neter Shammohan as CEO, Tal Halozin and Tzachi Zagdon. Until the IPO, it raised almost 100 million dollars from entities such as the Sequoia venture capital fund and the communications giant Cisco.
Only two months after the first offering on Wall Street, Innovid paid 160 million dollars for the smaller British competitor called TVSQUARED.