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Celebrity Greetings App Cameo to Lay Off 25% of Workforce

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thewrap.com

first reported by The Information.The cuts come after Cameo recently expanded in the last two years, including in a partnership with SoftBank in Japan to launch blockchain-based tokens through a feature called Cameo Pass for art, events and merchandise.

Its headcount rapidly went from 100 to nearly 400 as business boomed during the pandemic, with Galanis saying that “market conditions have rapidly changed since then.”Cameo makes money by taking a 25% cut of those video messages from celebrities, which currently includes Tom Felton, Lindsay Lohan and AKON..

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