RocketFuel to lay off 11% of its staff and refocus strategy
Rocket Fuel, the programmatic marketing firm, has announced 11% of layoffs among its staff. This is line with the SaaS company’s re-organisation to boost a transformation across its entire business.
According to the company, 93 positions and services are going to be lost. Instead, Rocket Fuel will focus on expanding its predictive marketing solutions as well as media services.
A relocation of its corporate headquarters is also in the cards and could reduce operating expenses by around $20m.
In line with these plans, David Gosen, SVP and MD International, Rocket Fuel, will be the new GM of Platform Solutions International. Simon Hayhurst, SVP of Product, is being promoted to GM of Media Services.
Randy Wootton, CEO, Rocket Fuel, explains that the third quarter 2016 showed some solid growth for the company with 141% across its platform.
“[We] signed our first platform agreement with a major US agency holding company. We are continuing our transformation into a leading predictive marketing platform provider, and announcing changes today designed to further our growth at scale.”
However, overall growth hasn’t been all that smooth and now Wootton wants to ensure that 2017 is going to be different. Rocket Fuel’s Moment Scoring technology will be a core focus this year for integration with OEMs alongside partnerships with system integrators.
“We are inspired by the evolution of digital marketing from programmatic media buying to truly predictive marketing, particularly the application of AI and big data to predict the potential of every moment and make marketing more meaningful and accountable,” Wootton adds.