10/21/2022
Snap Says Inflation Is Hurting its Advertising Revenue, Suggesting Trouble for Meta and Google
observer.com • 1 min read
Rachyl Jones• 3rd+Media Reporter—always accepting scoops8h • 10/12/2022
Snap was the first social media company to report this round of earnings, and the impact of macroeconomic conditions on its adversing could mean trouble for Meta and Google, which announce earnings next week. The company’s main source of revenue is ads, and with inflation looming it claims advertisers are pulling back on ad spending. Its shares fell 25 percent in after-hours trading on Oct. 20 and were down about 30 percent at the start of trading today. Snap has also spent $155 million on restructuring charges in the last three months, contributing to $360 million in net loss—five times what it was this time last year.
🌎Hey Babe Walk on my side, share this with all your Friends and Spread the Words among us and for us to be Together and to be concern about each other 🌍
🌎REACH OUT AND SHOW SOME KIND OF LOVE AND CONCERN🌍
TIME TO MAKE A DIFFERENCE IN THIS WORLD OF INDIFFERENCE, IF YOU HAVE AN OPPORTUNITY OR KNOW ABOUT AN OPPORTUNITY OF HIRING PLEASE FEEL FREE TO CONTACT THE PEOPLE LISTING HERE BELOW WHATEVER YOU WILL TELL THEM OR SHARE WITH THEM, IT WILL BE A LIGHT IN THIS DARK SIDE OF BUSINESS OPERATION AND FOR THEIR MINDS. THANK YOU FOR YOUR SENSE OF SOLIDARITY.
“Sweet Move by the Startups“
Adrian Garcia-Aranyos• 3rd + President at Endeavor 2mo • Edited • 2 months ago [March 2022]
Big day for Egypt in the IPO scene and extra special day for two Endeavor entrepreneurs, BUT also a big day for females in finance.
Today the co-founders of Swvl: Mostafa Kandil and Ahmed Sabbah rang the opening bell at Nasdaq.
Queen’s Gambit Growth Capital (GMBT), the first special purpose acquisition company led by women (with former J.P. Morgan colleague Elizabeth K. Weymouth), today formalizes their business combination with Swvl
Founded in 2017 (and selected into Endeavor in 2019) Swvl is a mobility platform that is transforming mass transit in major cities by providing affordable, app-based bus transportation. It became Egypt’s fastest growing unicorn in 2021 and a few months later becomes an Egyptian listed tech company.
For Endeavor Egypt 🇪🇬 a lot to be proud of today, but this marks just the begging for the Egyptian entrepreneurial ecosystem. 🚀
PS: We are definitely proud Swvl investors via Endeavor Catalyst 😉
SWVL plans to lay off 32% of its team two months after going public
One Day Showing – Off – One Day Laying Off
Big Pay Day Before the Chocolate Melted Away and Only Peanuts Stayed
After Airlift Technologies, Swvl is letting go of 32% of their workforce. This seems to be a part of the larger global trend of downsizing workforce and limiting expansion, in order to improve cashflow and profitability. Ride sharing startup Swvl has announced that it plans to layoff 32% of its workforce. The move comes “as part of efforts to turn cash flow positive by next year”. The cuts affects about 400 employees and “will focus on roles that have been automated,” Chief Financial Officer Youssef Salem said in a statement, adding that the Dubai-based company plans to help some employees pivot to new roles. Swvl went public through a SPAC merger in March, with a targeted $1.5 billion valuation.
😱 Quick update on developments in ride sharing and shuttle services – Layoffs 👋 | Tight budgets 🪙 | DiDi delisting from NYSE ❌ | Uber ❤️ Taxi in Italy 🇮🇹
✅ Swvl announced to layoff 32% of its team 😱, just 2 month after going public. SWVL has a challenging business model, the acquisition of companies like door2door, Shotl, Volt Lines (Nasdaq: Swvl) or Zeelo created redundancies in the team that are getting stream lined now: https://tcrn.ch/3x1UAeN
✅ Uber and Lyft didn’t announce any layoffs yet but cutting budgets and implementing a hiring freeze, citing the economic slow down. Further product differentiation should help to reach profitability 🤷🏼♂️ https://bit.ly/3t6eGSv
✅ DiDi Shareholders vote ☑️ to delist from NYSE – the company lost 90% 😱 of value (∼ USD 70 billion) since going public 🔔 in summer las year https://yhoo.it/3NMJvDV
✅ Friends with Taxi 🚕 drivers: Uber is making friends with Taxi drivers not only in NYC and San Francisco 🇺🇸 but also in Italy 🇮🇹. 12.000 taxi drivers could have access to the platform, the deal is enlarging the footprint of Uber way beyond the big cities like Rome, Milan or Turin. Quite a change, couple of years ago, Uber executives like Benedetta were attacked 🥊 by taxi drivers: https://reut.rs/3zo2dhh
#ridehailing #mobility #transportation #taxi #sharedmobility
Mostafa Kandil• 2nd Building an organization that leapfrogs nations 🦄1d • Edited • 1 day ago
When we started Swvl five years ago, we wanted to create opportunities for everyone by building a platform that enables women to pursue better opportunities, provides captains with more certainty in their lives, and allow colleagues the opportunity to contribute to solving a problem that impacts millions of lives around the world while supercharging their careers.
When COVID hit, everyone had to stay safe at home. We had one thing in mind: People first. We avoided layoffs or salary reductions for our colleagues, created must-have free trips on the most vital roads for our customers, and raised funds from colleagues and investors to support our captains. We wanted to set an example that “When the going gets tough, the tough get going.”
Strategy
Businesses around the world are suffering from higher costs and overall uncertainty. Over the past few weeks, Swvl has been hit like others across the globe with changes to its financial realities. While change is often unexpected, we believe that any attempt to resist it instead of adapting to it will prove futile. We know we have to make tough decisions to ensure that Swvl thrives once we are on the other side of this.
One of our core values is “Customers are the end destination and starting point.” Our mission is to provide safe, reliable, and affordable mass transit across the globe. We are committed to re-inventing a mass transit system that has not been revisited for years, and providing a solution where people need it most and where it is most complex—megacities with high density, overpopulation, and broken public transport systems, and infrastructures.
As part of that program, we have considered various scenarios starting with cutting from the top including myself and the rest of the leadership, business and unfortunately at last people.
To those who will leave, I would like to say I am sorry, I know I have let you down, I truly did my best everyday. You will forever be part of Swvl, and our door will always be open to you in the future. Besides your work, what will stay with us is knowing that we genuinely did hire people better than us. I am sure you will continue to have a significant impact wherever you go, as you have done day in and day out at Swvl.
Easing the transition for impacted colleagues:
- – Severance: All impacted colleagues to receive severance based on gross salary and complete cash payout
- – Medical Insurance: to be extended for all entitled colleagues
- – Stock Options: all unvested stocks for impacted colleagues to continue to vest as per schedule
- – Alumni Directory: an alumni network directory to support our impacted workforce
- – No interview policy for Rejoiners
- – Laptops to be retained by colleagues subject to data security requirements
- Change has been the only constant in life. However, it is also important to remember that this too shall pass, and Swvl will always be at your service.
Mostafa Kandil, Swvl‘s CEO on Portfolio Optimization Program to Become Cash Flow Profitable in 2023
>> Read here bit.ly/SwvlLetter
Dot Come Dot Gone
Version Francaise: Dot Come, Dot Gone : est-ce que Fintech Finish Tech ?
English Version: Dot Come, Dot Gone: is Fintech Finish Tech?
Protected: Dot Come – Dot Gone: The Story of Character Flaws @ Morocco Tech
My Take on High Tech Startup in Silicon Valley
🌎Hey Babe Walk on my side, share this with all your Friends and Spread the Words among us and for us to be Together and to be concern about each other 🌍
🌎REACH OUT AND SHOW SOME KIND OF LOVE AND CONCERN🌍
TIME TO MAKE A DIFFERENCE IN THIS WORLD OF INDIFFERENCE, IF YOU HAVE AN OPPORTUNITY OR KNOW ABOUT AN OPPORTUNITY OF HIRING PLEASE FEEL FREE TO CONTACT THE PEOPLE LISTING HERE BELOW WHATEVER YOU WILL TELL THEM OR SHARE WITH THEM, IT WILL BE A LIGHT IN THIS DARK SIDE OF BUSINESS OPERATION AND FOR THEIR MINDS. THANK YOU FOR YOUR SENSE OF SOLIDARITY.
Carbon Health is no More Healthy for their Employees: 250 Fired
Carbon Health lays off 250 staff
By Andrew Murfett, Editor at LinkedIn News
Updated 6 hours ago
Medical software startup Carbon Health has announced it has laid off 250 staff members, roughly 8% of its total workforce. The San Francisco-based digital health company focuses on both software for primary care clinics and physical locations housing in-person clinics. It has raised over $500 million in venture capital funding and was valued at $3.3 billion last July. The company is yet to confirm whether layoffs originated from within corporate offices or Carbon’s clinics. The move follows a recent acquisition and a significant hiring spree, Axios reports.
LinkedIn members affected by the Carbon Health layoffs are sharing their stories — and some are already mapping out their next steps. Read their stories below.
Today, Carbon Health laid off at least 25% of its corporate workforce, and I was one of the hundreds impacted. I want to uplift incredible individuals I had the great pleasure of working with – you’d be so lucky to have them on your team:
Ethan Chan: my Clinical Informatics go-to! We partnered closely in revamping primary care appointment reasons, reducing 475 to 6: 5-10% calls to our support line were confusion over which reason to book & self diagnose under, so this significantly improved the patient & clinic staff experience! As part of an external partnership, Ethan created a new specialty, procedure notes that made it possible for a new provider type to chart and bill, and self-pay program package. He also was endlessly generous in his time training providers how to use our EHR.
Fermin Liang, MPH: we corrected new vs established patient product logic to rectify 25% of patients from established to new, resulting in $7-20 increase in revenue per visit. He also played a key role in actualizing external partnerships as a PM, leading work for charge queue creation, out of pocket cost calculation, and more.
Emma Lane: took over the behavioral health integration pilot from me and identified key issues with being able to bill for these services, searched for provider partners, came over from the Steady Diabetes acquisition and always brought thoughtful & strategic thinking to every team discussion! Impressive experience designing programs at One Medical and working in women’s health at Planned Parenthood
Nikhil Gupta: another great product partner for development of programs. Troubleshooted various challenges that came with creating a new specialty in the EHR, such as ensuring certain things were viewable to providers but not patients, and worked on an enrollment feature where appointments associated with a program would roll up and be centralized in one place instead of scattered through chart notes.
I’m sure there are many more that I will be learning about in the coming days. For anybody else impacted, please feel free to send me your email so I can add you to our community slack support group and help you find your ideal next opportunity. Also remember: this is not your fault, it’s not a reflection of your value or performance, take good care of yourself, and make the job search less overwhelming by aiming for discrete goals each week (I.e. 3 new info interviews a week, 4 new job applications a week vs spending infinite amounts of time.)
I’m of course also searching for my next adventure and bring years of designing and testing health care reforms, writing regulations and legislation, and leading strategy and operations – White House, Congress, UN, Center for Medicare and Medicaid Innovation, and startups.
Grateful to Carbon for the most fun I’ve had working anywhere in a while, the impact I’ve had, the brilliant and kind people I got to work with, and a compassionate severance package.
#opentowork
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Desiree Eck• 3rd+Former Central Support Manager at Carbon Health7h • 7 hours agoFollow
As you may have read, Carbon Health announced employee layoffs, and I was sadly one of the impacted employees. I am beyond grateful for the experience and knowledge I obtained while working for Carbon Health and it was truly a pleasure. I am looking forward to repeating my record of success for my next employer and that being said I am open to work!
I would appreciate your support. Thank you in advance for any connections, advice, or opportunities you can offer. #OpenToWork #opportunities #experience #thankyou
View the open to work details of DesireeView job preferences
- 10 comments
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New from me and Brock E.W. Turner. Layoffs have begun to hit the #digitalhealth world as both Cerebral and Carbon Health have said they’re cutting staff. They join a few others that have announced layoffs in recent weeks.
Skip Fleshman of Asset Management Ventures is advising the companies he works with to keep ample cash on hand, but “there are many that don’t have healthy balance sheets.”
via Digital Health Business & Technology
Layoffs hit Cerebral, Carbon Health and other digital health companies
digitalhealth.modernhealthcare.com • 3 min read
- 2 shares
“For the last few years, we have been more focused on topline revenue growth, patient acquisition, patient retention, and service expansion, and we have been less focused on profitability,” co-founder and CEO Eren Bali wrote in a statement.
Katie Jennings, you did a great job of capturing this.
Healthtech Unicorn Carbon Health Lays Off 250 Employees
forbes.com • 3 min read
3
Erin Brodwin• 2ndHealth tech reporter11h • 11 hours agoFollow
New from me in Axios: After an acquisition and hiring spree, Carbon Health becomes the latest digital health company to layoff workers. Roughly 250 people were impacted, representing a quarter of the company’s corporate workforce.
Carbon Health is latest digital health company to layoff workers
axios.com • 2 min read
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Seeing all the #layoffs from friends and colleagues at Carbon Health, Loom, and many others can be heart breaking. As someone who is very active in the recruitment world, I simply want to help those who need it. One way we can help is by offering job leads and paying it forward.
If you are beginning your job search, check out my organization, Zuora. I’m happy to have a conversation and help as much as I can. Apply directly or DM me with any questions! https://lnkd.in/ebUYYqHg
Is your organization #hiring? Throw the link in the comments and let’s help our networks as best we can.
📸 a double rainbow at Indianapolis International Airport yesterday, the first day of June and Pride month. Just a reminder that things will get better. ♥️
- 9 comments
Well yesterday was a heavy day for everyone at Carbon Health.
At about 830a everyone received a calendar invite for an All-Hands later that morning at 930a.
During the All-Hands we were informed that the company was downsizing and 25% of the team was being laid off.
A little over an hour later at 11:15 I had meeting with my leadership where I was informed that I was 1 of the 250 people impacted by the decision.
It’s kind of funny, I’ve seen the headlines, LinkedIn posts, and other news of this happening elsewhere but never truly considered it happening to me. (Why do we do that? It’s probably a topic for another day. But whether it is gun violence or layoffs or anything else, we rarely think it will happen to us. Until it does.)
I’m very proud of the work I accomplished at Carbon Health and am honored to have served alongside a mission oriented team comprised of thoughtful and action oriented colleagues.
I appreciate all the love/outreach I have gotten from the team in response to the decision, but I’d only be telling the partial truth if I didn’t include that it still hurts me to my core.
When COVID-19 changed the world in 2020, I felt compelled to play my part in caring for the community. I genuinely feel as if I accomplished what I came to Carbon to do. More than a million tests and 1.5 million vaccines administered at our public sites later, California is much healthier and safer today because of the work of our team. Both everyone who was let go, and those still on the team.
The next few weeks I’m going to be reflecting on my time at Carbon and thinking through my next steps. I’m by no means burnt out. I’m fired up and motivated to find the right fit; I mostly want to be very intentional about how I move forward.
My work at Carbon refueled my purpose: to increase access to quality healthcare for all – especially our most vulnerable communities.
If you have any introductions or opportunities that seem up my alley, I would appreciate the support and would love the connection.
Also – to my fellow Carbonauts who were laid off… I’d be honored to sing your praises and give you a recommendation attesting to your work and value as an individual. Hit me up… I’ve got time, lol.
Onwards and upwards 🌻
- 29 comments
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Heidi Peterson, PharmD, MBA• 3rd+Pharmacist ➡️ University Relations | Emerging Career | Talent Acquisition Leader @ Carbon Health1d • 1 day agoFollowLike many tech startups in recent news, Carbon Health has laid off more than 25% of their corporate workforce this morning. Unfortunately, I was one of those affected. While I am bummed that my journey with Carbon Health has come to an end, I am equally excited to chart a new course and:
- 1️⃣ spend some much needed R&R with my family this summer 😎
- 2️⃣ complete projects that have been pushed down the priority list year after year 🛠
- 3️⃣ set some new PRs at the gym 🏋🏻♀️
- 4️⃣ bring my experiences and talent to another organization 🧠
As I am searching for my next play, I’d appreciate any leads or referrals for talent acquisition or strategic alliance leadership roles. Also, there are hundreds of my colleagues with various backgrounds and experiences (HR, tech, product, design, legal..etc) looking for new opportunities as well. Happy to connect folks and make introductions! These are all brilliant people and I’m so grateful for the opportunity to have worked with everyone! ❤️
Until then, it’s time to shake up the margaritas, slap on some sunscreen, and hang out by the pool with my kids. Cheers! 🍹
#layoffs #laidoff #opentowork #talent #talentacquisition #universityrelations #professionalrelations #earlycareer #emergingtalent #opportunities
- 34 comments
- 7 shares
🌎Hey Babe Walk on my side, share this with all your Friends and Spread the Words among us and for us to be Together and to be concern about each other 🌍
🌎REACH OUT AND SHOW SOME KIND OF LOVE AND CONCERN🌍
TIME TO MAKE A DIFFERENCE IN THIS WORLD OF INDIFFERENCE, IF YOU HAVE AN OPPORTUNITY OR KNOW ABOUT AN OPPORTUNITY OF HIRING PLEASE FEEL FREE TO CONTACT THE PEOPLE LISTING HERE BELOW WHATEVER YOU WILL TELL THEM OR SHARE WITH THEM, IT WILL BE A LIGHT IN THIS DARK SIDE OF BUSINESS OPERATION AND FOR THEIR MINDS. THANK YOU FOR YOUR SENSE OF SOLIDARITY.
Linkedin Business Page Creator
LinkedIn Training, Tips & Tricks for #ProfilesThatPOP JOBS & LEADS ➤ProfilesThatPOP.com
International Employment Law and Business Culture
#hiring #business #job #opportunity #thankyou #jobs #success #people #training #love #linkedin #opportunities #culture #share #employment #employmentlaw #linkedinlearning #jobsindubai
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