Rapid (previously known as RapidAPI), a startup that built out an API marketplace valued at $1 billion last year, has laid off another 70 employees less than two weeks after letting go of 50% of its staff, TechCrunch has learned.
An affected employee who wished to remain anonymous told TechCrunch that just 42 people remain at the company – down from 230 in April – reflecting an 82% drop in headcount.
All of the company’s remaining workers in Europe, and some based in the U.S. were impacted by the latest round, according to the source.Â
Founded in 2015 by then-17-year-old Iddo Gino, RapidAPI built a platform that helps businesses find and integrate third-party APIs, as well as manage their own usage of their own internal APIs. It raised $150 million in March of 2022 in a Series D round led by SoftBank’s Vision Fund 2. Other backers include Qumra, Andreessen Horowitz, M12 (Microsoft’s Venture Fund), Viola Growth, Green Bay and Grove Ventures.Â
Notably, CEO Marc Friend only very recently took over the role …
