article thumbnail

Glossier just laid off one-third of its corporate employees, mostly in tech

TechCrunch LA

“[W]e are shifting our technology strategy to leverage external partners for parts of our platform that we’re currently maintaining internally,” Weiss wrote in the email announcing the layoffs to staff. The tech team layoffs are notable for a beauty retailer that has often described itself as a technology company.

CTO Hire 197
article thumbnail

Struggling EV firm Faraday Future gets another financial lifeline with new $225M investment

TechCrunch LA

billion capital raise that the company believes it can close before the end of this year. Both companies will own 50 percent of the JV — The9 provided $600 million in capital to secure its share. Faraday had previously planned to begin production of the FF91 at the end of 2018… but we are still waiting.

Invest 143
article thumbnail

MediaLab acquires messaging app Kik, expanding its app portfolio

TechCrunch LA

In 2017, TechCrunch reported that Whisper underwent significant layoffs to stave off collapse and put the company on a path to profitability. By 2018 that revenue was expected to top $30 million, according to sources at the time. The company filed registration documents in California in June 2018.