Rather less than two years after revealing a $122 million Sequence C elevate, event-discovery and ticketing platform DICE has laid off roughly 30 crew members.
London-headquartered DICE acknowledged the personnel discount following an preliminary report from Resident Advisor. Moreover, sure of the affected professionals – who’d labored for the corporate’s inventive and advertising groups – have taken to LinkedIn to substantiate the unlucky information.
Per the talked about outlet, the whole lot of SoftBank-backed DICE’s inventive crew (excepting the inventive director) was axed, whereas the “majority of the advertising crew” was likewise let go. Reportedly the third spherical of layoffs that the nine-year-old entity’s made in latest months, the team-size trim will in accordance with higher-ups be offset by agreements with freelancers.
“We just lately made the tough resolution to restructure elements of our enterprise to make sure we are able to give attention to our most vital initiatives,” a DICE spokesperson communicated in a broadly circulated assertion. “This isn’t an train we feature out flippantly and we’re unhappy that we’ve got to say goodbye to colleagues that we love working with and respect enormously.”
However the redundancies, DICE, which expanded into Germany 14 months in the past and introduced on former Hulu social media and digital technique exec Katie Soo as chief enterprise officer in February of 2023, indicated in remarks to TheTicketingBusinessNews that it intends to maintain on making “’strategic hires that can drive ahead’” company-wide progress.
Evidently, DICE is hardly alone in asserting layoffs, which have reached music trade corporations together with Spotify, Utopia, Sonos, Downtown, Common Music’s Motown Information, Warner Music, and various others thus far in 2023.
Furthermore, these less-than-ideal developments adopted the 2022 shutdowns of destination-event firm Pollen in addition to U.Okay.-based ticketing companies Festicket and Occasion Genius. Pollen reportedly had some $83 million in unpaid payments when it went stomach up, and staff reportedly did not obtain even a portion of their due compensation.
However the latter quarter of 2022 and 2023’s preliminary seven months have delivered comparatively optimistic funding-related headlines on the occasion and ticketing sides. Barcelona-based occasions platform Xceed revealed a €2 million elevate in November, as an example.
Extra just lately, Occasions.com unveiled a $100 million capital dedication to kick off 2023, and New York Metropolis-headquartered event-management platform POSH in late April detailed a $5 million seed elevate. Apart from providing its instruments to purchasers, after all, POSH has now constructed out a digital journal and a YouTube channel centering on event-planning data.