Saturday, August 26, 2023
Edtech company Cuemath cuts jobs, read what CEO's mail to employees said
Cuemath, an online math learning platform, has laid off 100 more employees, marking its second round of job cuts this year. The company cited divergent revenue and cost trajectories, as well as the challenging macro situation around capital availability for edtech, as reasons for the layoffs. Cuemath's revenue for the fiscal year ending March 2022 grew by 63.1%, but its losses increased by 66%. The company is backed by Peak XV Partners and provides an after-school online math program for students in grades K-12. https://ift.tt/0bP3Yhw
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