Vendini laid off approximately 10-15 percent of its staff Friday, about a year after accepting $20 million in funding.
Mark Meyerson, VP and GM of Music for the ticketing service left the company in July and music business development director Steve Weisz, who came over to the company with the 2014 purchase of InTicketing, is also out.
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.
Amplify caught up with Tacchi in an a series of emails to hear why he decided to let part of his staff go.
We heard there were layoffs.
I’m in Italy right now working out of the office here. 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.
You were in Italy when you laid everyone off? Are you also on vacation?
Ha! No. I’m not on vacation. We have a decent-sized office here.
Are you still committed to music venues and the music biz? Or is this a step away?
Of course! We haven’t stepped away from that. We reorganized the music sales team to fit under one umbrella back in January. Our music support and festival field operations is provided by our support organization. Music is now a part of who we are. It’s just run more effectively now.
Meyerson was extremely important for us in getting music integrated versus having a music-dedicated organization and then everything else. In January, Meyerson and I were trying to figure out how to give him a larger role that didn’t just label him as ‘the music guy’ but we had trouble finding the right fit for him and parted ways as friends.
Steve Weisz, who I also consider a good friend, stepped down last year as a day-to-day contributor and remains a shareholder in Vendini.
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