wave sports entertainment

wave sports entertainment

Image from Wave Sports + Entertainment

Sports media startup Wave Sports and Entertainment (WSE) has laid off 56 people—roughly one-third of its staff—as worsening economic conditions continue to hit tech startups.

The Santa Monica-based company began laying off workers last week, the company confirmed to dot.LA. A WSE spokesperson said the “restructuring” will allow the firm to focus on “core areas of expertise” like storytelling and league partnerships, with most of the eliminated roles coming from “supporting functions.” The layoffs, first reported by Insider, leave the company with 110 employees.

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Sports media startup Wave Sports + Entertainment (WSE) has raised $27 million in new funding from a host of investors, including reigning NBA Finals MVP Giannis Antetokounmpo.

The Santa Monica-based company announced Thursday that it closed a Series B round led by private equity firm TZP Group, with Crossbeam Venture Partners, GPS Investment Partners, Verance Capital and Nimble Ventures also participating. Milwaukee Bucks star Antetokounmpo joined the round as a “strategic partner,” WSE said—joining existing sports-world investors like Cleveland Browns quarterback Baker Mayfield and former Duke University basketball star Jay Williams.

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