Crowdfunding platform lays off 94 employees - Silicon Valley Business Journal

GoFundMe declined to comment Monday when asked how many employees will remain. As of March 14, GoFundMe had approximately 495 employees, according to PitchBook.

The company said it has notified the state of the mass layoff as required under the federal WARN act, but those are not yet available, according to California's Department of Employment Development. Impacted employees will receive a minimum 13 weeks of salary while those with a tenure of longer than three years will receive additional benefits, per the letter. The company will also extend its stock options period from its usual three months to three years and is offering pro-rated vesting of stock options for employees that haven't met their initial one-year qualification.

GoFundMe, launched in 2010, hit a $1 billion valuation in 2016. As of August of this year, the company had delivered more than $19 billion from successful campaigns across more than 200 million donations. The company has a transaction fee of 2.9% and 30 cents for each donation to cover the cost of processing payments.

Last month GoFundMe announced that Classy Chief Operating Officer Soraya Alexander had been promoted to GoFundMe COO and would retain oversight of Classy as its president.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Crowdfunding platform lays off 94 employees - Silicon Valley Business JournalThe company says it will refocus investments on its core business as giving falls.
Fonte: svbizjournal - 🏆 334. / 59 Leggi di più »

Il Fornaio coming to Mountain View shopping center - Silicon Valley Business JournalIl Fornaio, which counts 'a few hundred thousand' fans in the Bay Area, is opening a new location. Here's where.
Fonte: svbizjournal - 🏆 334. / 59 Leggi di più »

Bay Area sees lowest October home sales volume in 15 years - Silicon Valley Business JournalEconomic conditions in September and October continued to nosedive and so did real estate sales in the Bay Area. Here's how much they were down in October compared to the previous year.
Fonte: svbizjournal - 🏆 334. / 59 Leggi di più »

Il Fornaio coming to Mountain View shopping center - Silicon Valley Business JournalIl Fornaio, which counts 'a few hundred thousand' fans in the Bay Area, is opening a new location. Here's where.
Fonte: svbizjournal - 🏆 334. / 59 Leggi di più »

Southwest Airlines launches nonstop SJC-PSP flight - Silicon Valley Business JournalSilicon Valley travelers can now choose from two near-daily flights to Palm Springs.
Fonte: svbizjournal - 🏆 334. / 59 Leggi di più »

Televerde names Silicon Valley exec Chris McGugan as new CEO - Phoenix Business JournalThe new CEO will lead Televerde, the Phoenix company that puts incarcerated women to work inside prisons as remote phone sales and marketing representatives for global corporate clients.
Fonte: phxbizjournal - 🏆 254. / 63 Leggi di più »