Airmeet, a virtual events platform backed by Prosus, has initiated a workforce reduction. This second restructuring effort is likely to affect approximately 20 per cent of its employees, within a year, as per reports.
The layoffs will span various departments, with a notable impact on the technology division.
The move is said to be part of the company’s strategy to be more proactive in its R&D investments, focusing on developing a product that competes successfully and often outperforms established players such as Zoom and MS Teams. With clear indications of product superiority and maturity, the company has chosen to reallocate resources towards go-to-market strategies to sustain healthy growth.
This recent downsizing follows a previous reduction in workforce about 10 months ago, when around 30 per cent of employees, roughly 75 individuals out of a total workforce of 250-300, were affected. The earlier restructuring, in May 2023, impacted various teams including sales, marketing, technology, and operations, encompassing staff from the US, Europe and India.
Established in 2019 by Lalit Mangal, Vinay Kumar Jasti, and Manoj Kumar Singh, Airmeet specialises in online meeting and event hosting, facilitating one-to-one and one-to-many interactions among participants to foster connections.
It enables users to host professional conferences, networking events, workshops and webinars with ease. With features such as virtual stages, breakout rooms and audience-engagement tools such as polls and Q&A sessions, Airmeet aims to replicate the experience of in-person events in a digital environment.
It fosters meaningful connections among attendees through its networking lounge and allows seamless integration with popular tools such as Slack and LinkedIn.
