Thursday, September 1, 2022

Snap's Startup Accelerator, Yellow, Casualty Of Cuts

Yellow, the startup accelerator that was run by Venice, California-based Snap, has fallen on the chopping block, as a result of the cuts this week by Snap. According to an email from the director of Yellow to supporters, Snap would be "sunsetting" the program, as a result of the "efforts to increase focus" at Snap. Snap announced major cuts at the company, including slashing 20% of its employees. Snap's CEO said in that announcement that the company was making cuts, because it "has become clear that we must reduce our cost structure to avoid incurring significant ongoing losses."