Cameo has laid off about a quarter of its workforce, as first reported by The Information.
The Chicago celebrity shoutout app laid off more than 80 employees, the report said. Cameo had around 350 total employees.
Cameo CEO Steven Galanis confirmed the news to Chicago Inno, writing in an email that the startup "had to cut some incredible people" and the company "needed to right size the business to meet the shifting realities."
Cameo was among the companies buoyed by the pandemic, as people had more time at home and celebrities looked for new revenue streams as live shows were canceled. The startup raised $100 million in 2021 at a $1 billion valuation. Cameo has raised more than $165 million to date.
Founded in 2017, Cameo pioneered the market for celebrity video shoutouts. The startup allows fans to request personalized video messages from celebrities, and it also operates a B2B arm that helps brands find celebrities to use in digital advertising campaigns.
Cameo is also experimenting with merchandise, and last year it made its first acquisition in a deal for Represent, a Los Angeles startup that sells T-shirts and other merchandise from celebrities.
Earlier this week Cameo announced a partnership with Snap, which lets Snapchat's brand partners access Cameo's talent for ad campaigns.
More to come.
