Wave.tv, Which was rebranded to WaveSports + Entertainment end of last year has decided to lay off more than 1/3rd of its staff.
The Santa Monica-based Sports Media company has decided to let go of 1/3 of its staff, around 56 employees – Insider reported.
The company said it had to take this difficult decision with the worsening economic conditions which continue to hit tech and media startups recently. The company had already began laying off workers since last week.
I spokesperson from the company had mentioned that this restructuring will allow them to focus on much important plans for the company. As of this article, WSE has 202 employees as per Linkedin.
Babe is one of the fastest growing sports and entertainment companies with more than 110 million viewers and followers across the globe. The company had also recently closed a $27 million of series B funding.
Wave was founded in 2017 and is led by Brian Verne the CEO and has recently added Rich Battista as the executive chairman of the board of directors along with the Series B funding.
Wave Sports + Entertainment is a world-class sports and entertainment company that entertains modern day fans through content, products, and experiences. Through a portfolio of over 30 media brands, original content, talent, and a suite of products and services, WSE reaches more than 500M Gen Z and Millennial sports fans on a monthly basis. Our core content is consistently ranked as the most highly engaged across Snapchat, Instagram, TikTok, Facebook, and YouTube where over 100 million followers engage with our brands.