RapidAPI headcount down 82% from fresh layoffs less than two weeks after cutting 50% of staffReading Time: < 1 minutes
All of the company’s remaining workers in Europe, and some based in the U.S., were impacted by the latest round, according to the source.
Founded in 2015 by then-17-year-old Iddo Gino, RapidAPI built a platform that helps businesses find and integrate third-party APIs, as well as manage their own usage of their own internal APIs. It raised $150 million in March of 2022 in a Series D round led by SoftBank’s Vision Fund 2. Other backers include Qumra, Andreessen Horowitz, M12 (Microsoft’s Venture Fund), Viola Growth, Green Bay Ventures and Grove Ventures.
Last November, RapidAPI announced it had rebranded to Rapid and that more than 4 million developers used its public API hub. That hub, it claimed, had grown to among the world’s largest — giving developers the ability to integrate more than 40,000 APIs from companies such as Twilio, Microsoft and Google. At the time, it touted new enterprise customers such as ATA, Poly, Formula 1’s Scuderia AlphaTauri and Sun Life Financial. It also boasted that it had doubled its company employees in the past year — to 200.
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