Tune, the US-based mobile analytics and performance platform, cut its staff by 9% this week in an attempt to become more profitable again. Around 30 of its 320 employees were let go.
Peter Hamilton, Tune’s CEO told GeekWire that the layoffs had been necessary in order to secure the a healthy business. He said:
“As we continue to scale quickly, our expenses have trended just a little higher than our revenue. This decision ensures we move forward as a cash flow positive organization, which really gives us the most control of our future.”
Tune provides a wide variety of mobile advertising tools and solutions including app store analytics, in-app advertising and ad fraud prevention features.
The latest news follows the company recently facing issues when Facebook changed its policy to omit deep-linking to measure ad campaigns. Tune has been working around the issue by providing aggregate-level measurement of Facebook campaigns via its ad partners.
Although the firm has been profitable since foundation in 2009, additional investments this year led the company to make the decision. Tune’s last investment round was in 2015 led by Icon Ventures for a total $27 million.
Hamilton adds that despite Tune now being an $80 million business, the company continues to carefully examine its strategy and adapt accordingly.
Tune revealed a series of new products this year, including its Multiverse tunebot which creates insights and ROAS reports more easily; as well as its Fraud Prevention Suite that highlights ad fraud by sharing data.
Despite the layoffs, Tune is keen to continue creating and releasing products as mobile ad technology evolves.
Hamilton adds that predictability is key when discussing financial success for the company.
“Obviously that’s better for customers also, if they can predict what their bill is going to be on a monthly basis, and they can understand how that’s gonna change over time. But it is also really valuable for us as a company, as we start thinking toward maybe moving into a public offering, or moving into something that I’m gonna have to report on these numbers every quarter and make damn sure that we’re gonna land them. So that’s gonna be a big focus for us.”