sensor towera prominent market intelligence company in the app economy, this week laid off a significant portion of its workforce, estimated at around 40 people out of the company’s 270+, According to the number of LinkedIn employees. The layoffs included CEOs, TechCrunch has learned from multiple sources, including the CMO, CFO, and chief product officer. As we’ve heard, other teams affected include finance and almost all marketing departments.
The company held a comprehensive meeting to address the changes, which may still be underway as part of a larger reorganization of Sensor Tower’s corporate structure.
Sensor Tower confirmed the layoffs, but not the details, indicating it would issue a full release next week.
“Earlier this week, the Sensor Tower management team took the necessary steps to reorganize and right-size our business under a talented and experienced senior leadership team,” Melissa Shear, a publicist for Sensor Tower, said in a statement emailed to TechCrunch. “We are excited about these changes as we work to position the company to achieve a balance between continued growth and best-in-class profitability. We will provide more details in the coming days,” she added.
As a popular provider of third-party data and insights for app developers, brands, marketers and publishers, Sensor Tower has grown its headcount over the years following its $45 million investment in 2020 from Riverwood Capital. At the time, the company cited 350 enterprise-level clients, such as Morgan Stanley, Zynga and Tencent. But Sensor Tower was still a small team at the time — just 75 employees — slightly larger than the number of employees laid off this week.
Sensor Tower grew again in 2021 with its acquisition of market intelligence company Pathmatics, allowing it to offer an expanded range of digital and mobile advertising insights. The deal included an undisclosed growth investment from Riverwood Capital in Pathmatics.
The company then claimed it chose to raise more money to continue growing its business through investments in recruitment, marketing and infrastructure, but noted it had been profitable since launch.
Today, the Sensor Tower website promotes its use by top brands, companies and marketers, such as Dyson, L’Oreal, Target, Johnson & Johnson, Welch’s, Petco, Chanel, Revolut, Getir and Warner Bros. Hershey, Wieden + Kennedy, ByteDance, Activision Blizzard, Allstate, Apple, Purina, Pepsico, Nike and more.
Its data is regularly cited by top publications, including The Wall Street Journal, Fortune, CNBC, The New York Times, Bloomberg, and others, including TechCrunch.
Unfortunately, 2023 has been a tough year for layoffs ranging from big names in tech like Google, Amazon, Microsoft, Yahoo, Meta, Zoom, Roku, Spotify, and Shopify, to smaller startups across all sectors, including cryptocurrency, SaaS, enterprise, consumer, and more. that.
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