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Krafton-backed Loco fires 40 employees

Inc42 · 1y

Game streaming platform Loco, backed by Krafton, has announced the layoff of around 36% of its workforce, constituting about 40 employees. The founders mentioned this as part of the company's restructuring plan while expressing their intentions to expand globally. Loco aims to focus on transaction-based monetization and core objectives in order to streamline operations and attain a leaner cost structure. The Mumbai-based start-up raised $42 million in its Series A funding round last year. India has a significant gamer base of 568 million, with 25% being paying users.