Earlier today, Bizzabo’s co-founders Eran Ben-Shushan, Alon Alroy, and Boaz Katz sent the following note to employees:
Bizzaboers,
Today has been one of the most challenging moments we’ve faced since founding Bizzabo. We have made the difficult decision to reorganize and reduce headcount by close to 30%. We informed the impacted employees earlier today. The Bizzaboers we’re parting ways with are all extremely talented individuals who have helped us innovate and grow. We’re grateful for them, and we’re sad to say goodbye. We’re committed to being very proactive in helping them find new opportunities.
This was a difficult decision, but ultimately, it is the right one for Bizzabo’s employees, customers, and shareholders.
Following the swift economic downturn, like so many companies, we’ve had to adjust our strategy to prioritize financial efficiency to continue delivering on our mission to unleash the power of professional events to create impactful and rewarding experiences. Over the past two years, we’ve made several acquisitions and significant investments to advance Bizzabo’s products. These acquired technologies have been successfully integrated into the Event Experience Operating System. Today, we are reorganizing our team to align our business strategy to what the market and our customers need from us moving forward.
Our focus is our customers. They rely on our team and the Bizzabo Event Experience OS to stay connected to their customers while delivering impactful business outcomes through virtual, hybrid, and in-person events. The markets may be unpredictable, but there is no doubt events will continue to be a vital part of the business world. We’re seeing strong demand for a modern event platform, like the Event Experience OS, that is data-rich, seamless to use, open, and flexible.
We’re more confident than ever in the future of Bizzabo and the events industry as a whole. As a company, we’ve overcome several pivots and changes over the years. The Bizzabo values will be tested again and serve as a source of strength and inspiration. Today is a tough day. Tomorrow will be tough, too. We recognize this news is difficult, and we know we will all need time to process it together as a team. We will support each other, as we always do. We will provide opportunities to ask questions and get the answers you need. We are confident we have the team, the resources, the resilience, and the grit to pull through this challenging time and emerge stronger than ever.
Bizzabo is well-positioned for this next chapter as a company. With the return of in-person events and the adoption of virtual events into the marketing mix, our vision for the Event Experience category is as strong as ever. We remain relentlessly optimistic, and we’re grateful to show up every day to #ChooseExcellence with all of you.
Eran, Alon, and Boaz
Bizzabo co-founders
