Programmatic marketing platform Rocket Fuel is laying off 11 per cent of its staff, as part of a reorganisation aimed at accelerating ‘its ongoing transformation into a leading SaaS-based platform solutions company’.
93 services and administrative positions will cease to exist as the company seeks to reorganise its operations around two core offerings: predictive marketing platform solutions and media services.
This, along with the relocation of its corporate headquarters and other streamlining of facilities, is expected to reduce the company’s operating expenses by approximately $20m (£16.5m) annually, according to Rocket Fuel.
“In the third quarter of 2016, we experienced growth of 141 per cent in our platform business, and signed our first platform agreement with a major US agency holding company,” said Randy Wootton, Rocket Fuel CEO. “We are continuing our transformation into a leading predictive marketing platform provider, and announcing changes today designed to further our growth at scale.”
Wootton made it clear that the main goal of the company in 2017 is ‘returning to growth’ and explained the intention to do this by ‘working side by side with the world’s largest agencies and brands’ – while integrating its ‘Moment Scoring’ technology into OEMs and continuing partnerships with influential system integrators.
Wootton continued: “We are inspired by the evolution of digital marketing from programmatic media buying to truly predictive marketing, particularly the application of AI and big data to predict the potential of every moment and make marketing more meaningful and accountable.”
The reorganisation will also see David Gosen, SVP and managing director of international, expanding his role to become GM of platform solutions & international. Meanwhile, Simon Hayhurst, SVP of product, will become GM of media services.