Update: Vendini CEO Mark Tacchi released the following statement to Amplify — “Yes, we are doing some internal restructuring. We are a family here all passionate about arts, music, and entertainment. It’s unfortunate that some of our amazing people had to be let go. We have had our heads down over the last year and a half on replatforming our system and prepping us for scale. It’s a good point for us to recalibrate and get us ready for our next stage of growth.”
Approximately 10-15% of staff let go one year after accepting $20 million in funding
San Francisco ticketing firm Vendini laid off several dozen people Friday, Amplify has learned. Mark Meyerson, VP and GM of Music for the ticketing service is gone, as is music business development director Steve Weisz, who came over to the company with the 2014 purchase of InTicketing.
After years of bootstrapping and organically growing his company, Vendini Founder and CEO Mark Tacchi raised $20 million in Series A funding from New York-based private investment firm Level Equity in May 2016. At the time Tacchi said Vendini would use the financing to hire more engineers and tech talent.
“Strategically we’ve been building out the offices and getting prepared for this,” he said in a May 31, 2016 piece, noting that the company has 165 employees at seven different offices including space in Los Angeles following its 2015 acquisition of CrowdTorch. Earlier today, Meyerson, who left the company in July, released the following statement to Amplify:
“I am proud of the work I did at Vendini after their purchase of CrowdTorch and of the influence I was able to make on corporate structure, culture and strategy. Ultimately, I am going to be happier and more challenged working with a company that is a better fit for my vision of the next round of innovation the ticketing and entertainment industry will be going through. Be it at a start up or an existing group, there are exciting things happening through deep horizontal integration of ‘ticketing’ in social media and in the world of quality data analysis. I wish the team at Vendini well and all the best luck as they continue to provide solutions for the Performing Arts.”
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