The company, valued at $12.3 billion, is a rare 'decacorn.'
sentiments in a blog post, citing “increasing focus on our strategy, and adjusting to the new macro environment” as the key factors behind the “hard decision” to lay off employees.
As TechCrunch noted, the decision comes amid major adjustments to the “decacorn” — a company that is valued at more than $10 billion. The company initially focused on providing credit and financial technology to startups and small to medium-sized businesses; in June, the company announced that it would pivot away from that into only larger, more established businesses, to the chagrin of its original clientele.valuation of $12.
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