Bizzabo – the New York based event management platform has laid of 120 of its employees – 30% of its workforce.
The company credits this decision to the extended economic downturn, with the troubling waters in hospitality exposing. Out of 120 employees being laid off 85 employees are from the United States and 35 are from Israel.
Bizzabo did acquire several companies recently which multiplied its staff and the total products in the company’s basket. Some recent acquisitions – Kill, x.ai, Whalebone and TeeVid.
Bizzabo last investment round comes from Insight partners for $138 million as a Series E in December 2020.