Cameo lays off almost a quarter of its staff, including executives

The startup behind the video app that allows users to pay celebrities for short personalized greetings has laid off a lot of its workforce. Steven Galanis, CEO of Cameo, said the company parted ways with 87 employees. According to Protocol, 25 percent of the company's employees are accounted for by that number.

I made the painful decision to let go of 87 beloved members of the Cameo Fameo. The company hired too quickly and fell short of expectations. The startup was valued at $1 billion last spring.

Today has been a brutal day at the office. I made the painful decision to let go of 87 beloved members of the Cameo Fameo. If you’re looking to hire hungry, humble, smart, kind, curious, learning machines who love to win - and you see Cameo on their resume - look no further.

— Steven Galanis (@Mr312) May 4, 2022

Galanis, a Web3 enthusiast who once compared the burgeoning movement with colonization of the Americas, called it abrutal day at the office. One day after the company announced a new partnership with Snap to power a new advertising product, news of the layoffs also came.