iPrice Group is laying off 20% of its’ staff as it looks to focus the business on its core mission, this comes 3 months after the company announced a USD 5mn investment from Japanese Conglomerates Itochu Corporation and KDDI Corporation.
“ In today’s uncertain economic environment, it’s important to be hyper-focused on the company’s core product.” – said iPrice Group Co-Founder David Chmelař
The company further added that it will refocus on its core mission, and partnerships will continue as a subscription model with a focus on providing interested players access to SEA’s best-curated product catalogue and rich data about the regional e-commerce landscape.
“iPrice team is a strong community, so it was a tough decision to reduce our staff in line with the refocus on our core business,” says iPrice Group CEO Paul Brown-Kenyon. “With these changes, however, we are in a stronger position to deliver on our core mission to help people save money.”
In the retrenchment process, iPrice will follow all contractual and legal requirements and is actively helping those staff who have been let go find new opportunities.
