Twitch CEO Dan Clancy sees slow and steady growth beating the ‘rocket ship' approach despite parent Amazon slashing staff [Yahoo! Finance]
Nextdoor Holdings, Inc. (KIND)
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Source: Yahoo! Finance
Amazon acquired Twitch in August 2014 for roughly $1 billion, allowing the Jeff Bezos–founded tech giant to expand its presence in the live-streaming and gaming sectors. Twitch has since benefited from Amazon's resources, infrastructure, and Prime membership integration, but according to reports , it remains unprofitable and was forced to lay off more than 500 employees in January this year, which is about 35% of its headcount. Clancy, however, who has held the top job at Twitch since March 2023 having previously worked at Nextdoor and Google , remains undaunted by the pressures—and mapped out what he believes will be the company's path to success. "I think we always get infatuated with ‘accelerated growth,'" he said in a conversation with Fortune at the Cannes Lions festival, where Twitch was aiming to woo advertisers along with other tech titans at the industry equivalent of the Oscars. "And those things that grow fast can also shrink fast." Clancy emphasized the stabilit
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KIND
Earnings
- 2/27/24 - Beat
KIND
Sec Filings
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