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SoftBank-Backed Startup, Jellysmack Layoffs staff due to Restructuring Layoffs in the U.S. and France
- Tech startup Jellysmack is facing significant restructuring and layoffs in both the United States and France as it scales back its content creator program.
- Jellysmack confirmed that 22 employees in the U.S. will be affected by the layoffs, with more cuts expected in its French office over the coming months.
- The decision to reduce staff is part of a larger organizational adjustment, aimed at better aligning Jellysmack’s resources with key growth areas.
- Jellysmack is making changes to focus more on content businesses where it owns the intellectual property, which have shown continued success, particularly on platforms like YouTube.
- Recent changes to platform monetization models, particularly on Meta’s platforms, have impacted the viability of Jellysmack's business strategy
- Jellysmack is scaling back on its Creator Program on Meta, instead prioritizing its business units that manage intellectual property.
- The content properties Jellysmack will now focus on are YouTube channels like Gamology, House of Bounce, Beauty Studio, and Oh My Goal.
- Many startups in the creator economy, such as Cameo, have struggled to meet the growth expectations of venture capitalists.
- Jellysmack remains committed to supporting its creator partners and finding new ways to leverage its platform for future growth.
- Jellysmack is realigning its priorities to navigate the shifting tides of the creator economy.
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