Pocket FM Streamlines Operations: 200 Writers Affected

Bengaluru-based audiotech startup Pocket FM has recently made the difficult decision to let go of around 200 writers responsible for its US-based audio shows. This move is part of the company's strategy to optimize costs and allocate resources more effectively.

• Resource Realignment: Pocket FM has streamlined its workforce to better align resources with its current show pipeline.

• Company Statement: A spokesperson for Pocket FM clarified that the layoffs are a standard industry practice and do not reflect the company's overall health. They emphasized that the company is in a strong growth phase and is ramping up hiring efforts globally.

• Growth Milestones: Founded in 2018, Pocket FM raised $103 million in Series D funding in March, valuing the company at $750 million.

• Global Impact: Pocket FM serves over 130 million users with more than 100,000 hours of content. The platform reports $150 million in annual revenue, with a significant portion from the US market.

• Content and Access: The platform offers content in multiple languages and provides some episodes for free, with additional content available via virtual coins.

Pocket FM's strategic adjustments aim to position the company for continued growth and success in the competitive audiotech landscape.