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VideoAmp CEO out amid layoffs, financial drama

Jan 4, 2024
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Illustration: Annelise Capossela/Axios

VideoAmp's CEO is stepping down and the company is cutting 20% of its workforce as the media measurement firm reduces expenses after signs of financial trouble.

Why it matters: The startup is one of a few video measurement upstarts looking to take on Nielsen in serving the multibillion-dollar TV ad market.

Details: Founder and CEO Ross McCray announced his executive transition, along with other executive changes, in a letter posted on VideoAmp's website on Thursday.

  • Board member Peter Liguori was named executive chairman. The company also has hired Nielsen veteran Peter Bradbury as chief commercial and growth officer. McCray will remain on the board.
  • VideoAmp had about 400 employees in September. These cuts bring its headcount down to about 320.
  • Ad Age first reported the news of the leadership shakeup and layoffs.

Flashback: In September, VideoAmp announced a $150 million Series G from Vista Credit Partners. The following day, Axios reported that it had quietly laid off 10% of its staff, or around 40 people. VideoAmp president Michael Parkes also stepped down.

The big picture: A slew of chaotic changes to VideoAmp's leadership team, staffing and finances underscore the challenges it faces trying to disrupt the media measurement industry.

  • The firm paid off some debt ahead of its latest round, but stakeholders have been concerned about the company's spending, sources told Axios.
  • Nielsen also has made staffing cuts and leadership changes as it tries to maintain its dominant position. It laid off 9% of its staff, roughly 1,000 employees, and named Karthik Rao as its new CEO last year.

Editor's note: This story was updated to make clear that McCray will remain with the company as a board member.

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