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Wave Sports and Entertainment Lays Off a Third of Its Staff
Christian Hetrick
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
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.
“As the industry begins to face economic headwinds, this restructuring will also allow WSE to maintain its strong balance sheet position, continue aggressively investing in key growth areas and manage from a position of strength,” the spokesperson said in a statement.
The startup is only several months removed from announcing a $27 million Series B funding round in February, which attracted investors like private equity firm TZP Group and venture capital firm Crossbeam Venture Partners. Star athletes have also been drawn to WSE’s platform; Milwaukee Bucks superstar Giannis Antetokounmpo joined the company’s Series B round as a “strategic partner,” while other athlete-investors include Cleveland Browns quarterback Baker Mayfield and former Duke University basketball star Jay Williams.
WSE produces sports video content that it publishes on social media platforms such as Snap, TikTok and Facebook, reaching more than 115 million followers globally, according to the company. Its brands—which include BUCKETS, FTBL, and HAYMAKERS—offer sports highlights, commentary and athlete profiles, among other digital content.
The company is far from the only tech firm—from giants Netflix and Snap to startups like Albert—that has slashed staff or slowed hiring in recent months amid increasingly precarious economic conditions. Privately-backed companies have cited a pullback in venture funding behind their need to cut costs, with private investors now also feeling the pain of a stock market that officially fell into bear market territory on Monday.
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Christian Hetrick
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
🤫 The Secret to Staying Fit at Your Desk: 6 Essential Under-Desk Exercise Machines
06:26 PM | July 24, 2024
Health experts are sounding the alarm: our sedentary jobs are slowly killing us, yet we can't abandon our desks if we want to keep the lights on. It feels like we're caught between a rock and a hard place. Enter under-desk exercise machines – the overlooked heroes (albeit kind of goofy looking) of the modern workspace. These devices let tech professionals stay active, enhance their health, and increase their productivity, all without stepping away from their screens. Here are 6 fantastic options that will enhance the way you work and workout simultaneously.
DeskCycle Under Desk Bike Pedal Exerciser
This bike has nearly ten thousand five-star reviews on amazon. It works with nearly any desk/chair setup. It is quiet, sturdy and allows up to 40 pounds of resistance. If you are looking for an under-desk bike this is a fantastic option.
Type: Under-Desk Bike
Price: $180 - $200Sunny Health & Fitness Dual Function Under Desk Pedal Exerciser
This under-desk bike is extremely quiet due to the magnetic resistance making it an ideal option if you work in a shared space. It doesn’t slip, has eight levels of resistance, and the option to work legs and arms. It’s about half the price of the DeskCycle bike making it a solid mid-range option for those looking to increase their daily activity.
Type: Under-Desk Bike
Price: $100 - $110Sunny Health & Fitness Sitting Under Desk Elliptical
This under-desk elliptical comes in multiple colors if you really want to underscore that you are a quirky individual, in case an under-desk elliptical isn’t enough. This model is a bit heavy (very sturdy), has eight different resistance levels, and has more than nine thousand 5-star reviews.
Type: Under-Desk Elliptical
Price: $120 - $230
DeskCycle Ellipse Leg Exerciser
This under-desk elliptical is another great option. It is a bit pricey but it’s quiet, well-made and has eight resistance levels. It also syncs with your apple watch or fitbit which is a very large perk for those office-wide “step” challenges. Get ready to win.
Type: Under-Desk Elliptical
Price: $220 - $230Daeyegim Quiet LED Remote Treadmill
If you have a standing desk and are looking to walk and work this is a fantastic option. This walking-only treadmill allows you to walk between 0.5 to 5 mph (or jog unless you have the stride length of an NBA forward). It is very quiet, which is perfect if you want to use it near others or during a meeting. You can’t change the incline or fold it in half but it is great for simply getting in some extra steps during the work day.
Type: Under-Desk Treadmill
Price: $220 - $230Sunny Health & Fitness Foldable Manual Treadmill
This under-desk treadmill isn’t the most premium model but it is affordable and has an impressive array of features. It is a manual treadmill meaning it doesn’t need to be plugged in; it is foldable and offers an incline up to 13%. I personally can’t imagine working and walking up a 13% incline but if that sounds like your cup of tea, then I truly respect the hustle.
Type: Under-Desk Treadmill
Price: $150 - $200Read moreShow less
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