Permutive, a customer data platform (CDP) specializing in premium media publishers and advertisers, announced that it had reduced the size of its team by 12%. As of December 2021, the firm had a team strength of ~200.
The firm stated that it had decided to pause its hiring from June and had made the decision to lay off staff citing 1) the economic downturn 2) contraction in venture capital funding and 3) slowdown in ad spending,
<ul><li> Analyst QuickTake: Despite the record-breaking fundraising by marketing automation startups in 2021 which included Permutive which successfully raised USD 75 million in series C funding , the firm joins a growing list of startups that have resorted to layoffs. Other prominent startups including Outbrain (ad marketplace) and Hootsuite (Social media marketing automation platforms) have also resorted to such measures which indicate that the impact of a slowdown in ad spending is being felt across the MarTech stack.</ul>
By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.