According to LinkedIn’s headcount, a significant chunk of the 270+ employees at the renowned market intelligence company for the app economy Sensor Tower were let go last week—roughly 40 of them. The chief product officer, chief financial officer, and chief marketing officer are a few of the individuals who told TechCrunch about the layoffs. Both the finance department and almost all of the marketing are supposedly affected.
The corporation held an all-hands conference to review the adjustments, which could still be in the works as part of a more extensive organizational restructure at Sensor Tower. Although Sensor Tower recognized the layoffs, it withheld further details, announcing that a more comprehensive announcement would be made the following week.
According to Melissa Sheer, a Sensor Tower spokesperson, in an email statement made available to TechCrunch, “Earlier this week, Sensor Tower’s management team took necessary steps to reorganize and right-size our business under a talented and experienced senior leadership team.
” We are enthusiastic about these improvements as we position the business for ongoing growth and best-in-class profitability. We will give additional details in the upcoming days, she promised.
The company has grown its workforce since Riverwood Capital invested $45 million in Sensor Tower in 2020. Sensor Tower is a well-known third-party data and insights provider for app developers, companies, marketers, and publishers. Three hundred fifty enterprise-level clients were on the company’s list at the time, among them Morgan Stanley, Zynga, and Tencent. However, Sensor Tower had fewer employees at the time—75—than the number of those fired this week.
With the acquisition of market intelligence company Pathmatics in 2021, Sensor Tower grew and offered a more comprehensive selection of digital and mobile advertising data. Riverwood Capital also provided an undisclosed growth investment to Pathmatics.
The company then claimed that it had decided to raise more money to expand its operations through recruiting, marketing, and infrastructure investments, even though it made it plain that it has been profitable ever since its beginning.
On its official website, Sensor Tower prominently highlights endorsements from well-established companies and marketers, featuring names like Dyson, L’Oréal, Target, Johnson & Johnson, Welch’s, Petco, Chanel, Revolut, Getir, Warner Bros, Hershey, Wieden + Kennedy, ByteDance, Activision Blizzard, Allstate, Apple, Purina, Pepsi, Nike, and many others.
Regrettably, the year 2023 has proven to be a challenging one, marked by significant layoffs impacting not only smaller businesses across various industries such as cryptocurrency, SaaS, enterprise, and consumer sectors but also prominent internet giants like Google, Amazon, Microsoft, Yahoo, Meta, Zoom, Roku, Spotify, and Shopify.
The information implies that market intelligence provider Sensor Tower has reduced its workforce, notably by letting go of several executives. The context and information that are now available make it difficult to draw firm conclusions about the causes of these employee cutbacks or their possible effects on the organization. Various events, such as economic conditions, corporate restructuring, financial difficulties, or changes in business plans, may cause workforce cutbacks. It might be required to refer to official statements or dependable news sources associated with Sensor Tower for more in-depth research to comprehend the ramifications and rationale for these personnel changes fully.
Engineer | Content Writer
Want to be a catalyst for a positive change in the world
Disclaimer -We have collected this information from our direct sources, various trustworthy sources on the internet and the facts have been checked manually and verified by our in-house team.