Sep 14, 2023 - Economy

Scoop: VideoAmp quietly laid off 10% of staff

An illustration showing a TV outage.

Illustration: Rebecca Zisser/Axios

Media measurement firm VideoAmp quietly laid off about 10% of its workforce last week, Axios has learned.

Why it matters: The layoffs suggest VideoAmp, which still isn't profitable, needs to cut expenses as it works to pay down debt after just raising a $150 million Series G.

Details: The layoffs affected more than 40 people. VideoAmp now has about 400 employees.

  • Founded in 2014, VideoAmp has raised hundreds of millions in capital including debt.
  • Earlier this week, the company announced its Series G raised from Vista Credit Partners. Last year, it raised $63.86 million in debt financing from Hercules Capital, which was repaid, per the company.
  • CFO Paul Ross told Axios that the company has historically not been profitable but is close. VideoAmp's costs are split about evenly between people costs and the rest toward hosting and data processing fees, he said.
  • The company laid off about 10 staffers a year ago.

The big picture: The move speaks to the volatility in the media measurement space, as the industry continues to wrestle with a complicated transition from linear television to streaming.

  • VideoAmp is one of several upstarts looking to take on Nielsen, which for years has served as the dominant player in video measurement.
  • Nielsen last week laid off 9% of its staff, roughly 1,000 employees, which followed another round of layoffs earlier this year.

VideoAmp did not provide a comment.

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