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Tech Crisis 2022

20 stories about Tech Crisis 2022
איטן בירן

Israel’s high-tech crisis is changing the work chain - which industries are set to benefit?

14.07.22|Ethan Biran
“When workers are fired from high-tech jobs, they return to their jobs as lawyers, accountants, and economists,” writes Ethan Biran
צלזיוס מימין אלכס משינסקי ו דניאל לאון

Crypto lender Celsius files for bankruptcy

14.07.22|Reuters and CTech
One month after pausing all transfers and withdrawals from its platform, the former unicorn says it now has only $167 million in cash on hand
מוסף עצמאות 28.4.20 מייסדי פבריק Fabric

Retail technology unicorn Fabric laying off over 120 employees

13.07.22|Meir Orbach
Fabric reached a $1 billion valuation just this past October when it raised $200 million, but will now be parting ways with a third of its staff
Ctech National Economic Conference Tom Livne וידאו

“It is a change in mindset to be profitable - let go of the bottom 5%”

13.07.22|James Spiro
Tom Livne, Founder and CEO at Verbit, spoke to CTech about how Israeli companies are restructuring themselves to focus on profits
עובדי נקסט אינשורנס NEXT INSURANCE

Insurtech unicorn Next Insurance nixes 17% of workforce

07.07.22|Meir Orbach
The company is laying off 150 employees, mostly in the U.S., explaining that “we must shift focus towards profitability”
CEO David Drai Anodot דויד דריי

Anodot lays off more than a quarter of its workforce

06.07.22|Meir Orbach
The business monitoring company is parting ways with 35 of its 129 employees
מגזין עצמאות 4.5.22 עמי גל מנכל ושותף מייסד SQREAM

SQream slashes over 15% of workforce

06.07.22|Meir Orbach
The data analytics startup is laying off 30 of its 170 employees in order to help it reach a balanced bottom line
מימין בועז כץ ערן בן שושן ו אלון אלרואי מייסדי חברת ביזאבו bizzabo

Bizzabo axes almost 30% of employees

05.07.22|Meir Orbach
The event planning platform will lay off 120 of its 400 employees as it prepares for an extended downturn in business
מגזין עצמאות 4.5.22 תום ליבנה ועובדי ורביט

Verbit to layoff 10% of its workforce, eight months after $250 million funding round

05.07.22|Meir Orbach
Most of the total of around 80 layoffs will be of employees in the U.S., with 30 employees from Israel leaving the company
יוני אסיא מנכ"ל ומייסד איטורו על רקע המשרדים של חברת אי טורו eToro בבני ברק

eToro laying off 100 employees, officially announces termination of SPAC

05.07.22|Sophie Shulman
The trading platform is currently in advanced negotiations for a private funding round for between $800 million and $1 billion, at a $5 billion valuation
טל סלובודקין, רננה אשכנזי, מיה פיזוב, עדי הורוויץ לביא

Staying Alive: Early-stage startup crisis survival tips

05.07.22|Calcalist
Ahead of the third Calcalist and Poalim Hi-Tech StartUp+ Competition, heads of the Israeli ecosystem provide forecasts and advice for startups at the beginning of their journey
Lightricks co-founders

Unicorn cutbacks: Lightricks to lay off 80 employees - 12% of workforce

04.07.22|Sophie Shulman
Lightricks is the latest in a growing list of unicorns to lay off employees despite having hundreds of millions of dollars in their account, joining the likes of Cybereason, Trax, and Snyk
משרדי חברת אי טורו eToro איטורו ב בני ברק

Three signs that high-tech took a turn for the worse in June

04.07.22|Sophie Shulman
A dramatic increase in the sale of shares by employees and investors at reduced valuations, the drop in open positions at startups, and the fact VCs are dictating draconian terms before investing are all indications that the financial crisis has truly started to hit the local tech sector
יוני אסיא על רקע משרדי חברת אי טורו eToro ב בני ברק

eToro abandons SPAC merger, targeting $1 billion funding round instead

03.07.22|Sophie Shulman
The dramatic drop in the valuations of tech companies and increased oversight by the U.S. SEC meant the company was better off canceling the merger and remaining private
שי גרינפלד

Investment in Israeli high-tech startups plummets by 31% in Q2

03.07.22|Meir Orbach
Local tech companies raised a relatively disappointing total of $4.5 billion in the second quarter of 2022, with only 104 funding rounds being completed compared to 135 in the same quarter last year
צלזיוס מימין אלכס משינסקי ו דניאל לאון

Ailing crypto lender Celsius to lay off a quarter of its employees

03.07.22|Meir Orbach
The American-Israeli company is parting ways with around 150 employees as it continues to look for a way out of a crisis that saw it pause all withdrawals from its platform three weeks ago
מייסדי Snyk סניק אסף חפץ דני גרנדר ו גיא פודחרני

Snyk laying off 30 employees less than a year after raising $530 million

03.07.22|Sophie Shulman
The cybersecurity unicorn announced that it would be making organizational changes despite reaching a valuation of $8.5 billion last year and raising a total of $830 million in 2021
Ran Dagan Ctech Unicorn Forum

“Take a deep breath, gather your investors and make sure you have enough runway”

30.06.22|Noa Gadot
Ran Dagan, Head of Technology Investments at Discount Capital, doesn’t think the crisis will end any time soon
Daniel Povitsky and Dean Meyer Ctech Unicorn Forum וידאו

“None of us predicted the crisis but we are certainly prepared for it”

30.06.22|Noa Gadot
Daniel Povitsky, Co-founder at Vine Ventures, and Dean Meyer, Investor and Head of Israel at the VC fund, spoke to CTech about the way the current crisis is affecting the investment world
קומפלקס המשרדים O-TECH

Parallel Wireless set to lay off a quarter of its employees in Israel

29.06.22|Meir Orbach
Around 60 of 250 employees are set to leave the American company, which was founded in 2012 and set up its R&D center in Israel six years later
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