The SoundHoud platform, which is shown as a Shazam competitor and aims to come to the fore with its artificial intelligence assistant technologies, has not been able to manage the crisis well in recent times. The company cuts its workforce for the second time.SoundHound is not getting better
SoundHound, which has been in operation for about 13 years, could not compete with Shazam, but it stood out with its ability to find songs that you could not find there from time to time. Recently, it has aimed to rival giants such as Google and Apple by investing in artificial intelligence assistants.
However, SoundHound, which reached a value of 300 million dollars, could not evaluate the process after its opening to the stock market. Despite important collaborations such as Mercedes and Pandora, approximately 50 people from the 450-person team were laid off last November.
The cost of the global economic crisis to the company is increasing day by day. It was stated that as of January, the process of laying off 200 people started. Thus, more than half of last year’s staff was laid off. The firm stated that investor interest decreased during the crisis, but they are still trying to find new investors.
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