A Live-Game-Streaming-Plattform called Loco has laid off about 40 employees. Even though it intends to expand operations overseas. The Loco’s founders, Anirudh Pandita and Ashwin Suresh, informed staff members that the layoffs were a component of their restructuring plan.
Loco founders confirmed the matter. “As part of a recent strategic review, we have decided to focus on transaction-based monetisation and operate with a leaner cost structure. This decision has been taken to ensure the long-term health and sustainability of our company,” the founders said in a statement.
Going forward, Loco will solely focus on core objectives like monetisation. “We’ve retained just enough people to pursue core functions. So now we won’t spend time pursuing non-core initiatives for the short term, like all kinds of experiments that we were previously doing,” said Suresh.
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Suresh, however, refuted any drop in Loco’s DAU. “Our metrics have grown significantly over the last two months thanks to the launch of our VIP programme as well as the Sky Championship 5.0 esports series,” he said.
Loco is a ESports and Live-Game-Streaming-Platform.Since June 2020, Loco has grown to have 55M registered Users with 9x year-on-year DAU growth, 100K+ Creators that stream on Loco with 4x year-on-year Creator-Sign-up-Growth and a record of 17M Live-Watch-Hours of Content consumed monthly.
Today, highly active users spend 60+ minutes on Loco daily watching live content, making it the go-to choice for the Indian gaming community. Loco provides top esports tournaments and gaming creators playing and live streaming all your favorite games like Free Fire, PUBG, BGMI, Valorant, GTA V and many more.