Creator-economy startup Jellysmack is reorganizing and cutting some staff, Business Insider is exclusively reporting.
"Jellysmack is making organizational adjustments to better align resources with key areas of growth," a representative told BI in an email.
While we are scaling back certain operations in our Creator Program on Meta due to the opacity of their new monetization model, we remain dedicated to supporting our key creator partners and ensuring they continue to benefit from our platform."
The company said in early 2022 that it would set aside $500 million for a program called JellyFi to license creator catalogs .
Despite Jellysmack's expansion into new areas of the creator economy, its business had been increasingly troubled, insiders told BI earlier this year.
Persons:
SoftBank, —, Jellysmack, Michael Philippe, Jelly
Organizations:
Business, Service, YouTube, Meta, Facebook, Copyright Capital
Locations:
France