All posts tagged: shutters

Ford shutters company building an app for plumbers, electricians and other trades

Ford shutters company building an app for plumbers, electricians and other trades

Ford has shut down VIIZR, a software-as-a-service company that along with Salesforce built an app to help tradespeople like plumbers, locksmiths and electricians to schedule field appointments, send invoices and manage customers, TechCrunch has learned. About 40 people who worked at VIIZR were laid off. VIIZR, which was first announced in December 2021, was a separate company majority owned by Ford with Salesforce as a minority investor. Its aim, at the time, was to build one of the many digital tools that would catapult the automaker’s commercial vehicle and service business Ford Pro to about $45 billion in revenue by 2025. VIIZR, is no longer part of that plan. Ford spokesperson Catherine Hargett confirmed that the automaker ended its investment in VIIZR and discontinued the product November 1 due to lack of customer demand and prioritizing its telematics, fleet management and charging productivity software where demand is strong and growing. Ford Pro is well on its way to hitting $45 billion in revenue  — a target that CEO Jim Farley noted during an event in …

Amazon shutters its live radio app Amp

Amazon shutters its live radio app Amp

Amazon has shut down its Clubhouse competitor’s live radio app Amp almost 18 months after its launch. The app allowed users to play DJ and provide commentary alongside playing tracks. The company’s lead for digital music, Steve Boom, sent a memo internally saying the decision to shut down the platform “only became clear after months of careful consideration determining the investments Amazon wants to make for the future,” as reported by Bloomberg. The app, introduced in March 2022, failed to register any significant growth and had nearly 700,000 monthly active users in July, sources told TechCrunch. Amazon responded by saying that these metrics were “inaccurate.” Analytics company data.ai noted that Amp had 1.3 million lifetime downloads. The company cut almost half of Amp’s staff last year during mass layoffs at the company. The app also failed to tempt users to sign up for Amazon as that number was in just single-digit thousands, as per documents seen by Techcrunch in July. Amazon tried to ride the live audio hype fueled by the pandemic. At the launch, …

Better.com lays off real estate team and shutters business unit

Better.com lays off real estate team and shutters business unit

Digital mortgage lender Better.com is exiting the real estate business. The struggling fintech startup laid off its real estate team on June 7, multiple sources confirmed to TechCrunch. The company is said to be shifting from an in-house agent model to a partnership agent model. One person who was impacted by the move told TechCrunch that the agents had received “little to no severance…after getting a more than 50% salary cut in November in order to ‘ensure’ our jobs to come.” TechCrunch reached out to Better.com, which declined to comment on the record. It is not clear how many people were impacted. The news is not shocking considering that rumors of Better.com’s plans to exit the real estate business have swirled for some time as the housing market has experienced a major slowdown driven by rising mortgage interest rates. As early as April of 2022, TechCrunch reported that it was suspected that all of Better Real Estate could be scrapped. The unit was at one time the “baby” of the company, sources said, and where a …

Affirm’s stock plunges as it misses earnings, cuts 500 jobs and shutters crypto unit

Affirm’s stock plunges as it misses earnings, cuts 500 jobs and shutters crypto unit

CEO Max Levchin takes ‘full responsibility’ for layoffs decision Citing economic turbulence, buy now, pay later giant Affirm announced today that it is reducing its staff by 19%, or about 500 employees, and shutting down its crypto unit. That leaves the company with about 2,000 employees. In a written statement, Founder and CEO Max Levchin said that he takes “full responsibility for this decision and for those leading up to it.” The company did not specify which departments would be affected by the move. Moving forward, Levchin said, the company will “refocus” on its core businesses and pace its headcount growth “behind that of revenue.” He added: “Our goals remain very ambitious: remain firmly in control of risk, grow both volume and revenue, and engage our consumers to continue increasing repeat usage, both online and offline. Moving forward, we will launch new initiatives with more discipline, greenlighting only high-conviction, long-term bets.”  With regard to its crypto offering, Levchin wrote in a letter to shareholders that Affirm would “sunset” the unit as the company also delayed …