Fremont, California-based Weee!, an online grocery service specializing in ethnic foods including Chinese, Japanese, Korean, Vietnamese, Filipino, Indian, and Latin offerings, has announced a reorganization and a reduction in force.
The reduction will impact 150 employees, including almost all of Weee's marketing team and its CFO, and vice-presidents of marketing and human resources.
Weee! CEO Larry Liu claimed the decision was part of its long-term strategy after undertaking a comprehensive review of its business and the need to increase its cash runway for at least one year as it contemplates making a public offering.
"With this reorganization, Weee!'s long-term outlook continues to be strong as we meet the needs of growing ethnic populations in the U.S. along with diversifying consumer tastes more broadly. Following our recent highly successful Series E funding round, the company is well-positioned to thrive in a variety of market conditions as we continue to focus on long-term growth objectives."
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