Struggling Tech Firm BENlabs Appoints New Leadership Amidst Job Cuts Following AI SaaS Venture's Downfall
Rewritten Article:
Looks like BENlabs, once known as Branded Entertainment Network, slashed its workforce in half and bid farewell to CEO Ricky Ray Butler along with his strategy to revamp the company into an AI Software-as-a-Service provider.
We nabbed an email from May 24, addressed to the team, penned by the current CEO, Ted Sheffield. According to the note, the company's top-tier investor, Gates Ventures, called it quits after years of hefty financial losses.
The missive opened with: "Over the past few years, we've been trying to redefine our worth from our original ventures, namely product placement, influencer marketing, and TubeBuddy, towards an AI Software-as-a-Service and Service offering."
When digging for details behind the staff reduction, CEO switch, and abandonment of the AI transition, it's wise to consult industry updates or official communications from BENlabs for the latest and most reliable info.
- After leaving his role as CEO at Benlabs, Ricky Ray Butler's strategy to transform the company into an AI Software-as-a-Service provider was abandoned.
- In a recent email to the team, current CEO Ted Sheffield explained that Gates Ventures, one of the top-tier investors, decided to discontinue their investment due to years of significant financial losses.
- Despite the efforts made to redefine the company's value, Benlabs is currently focusing on its original ventures such as product placement, influencer marketing, and TubeBuddy.
- To understand the reasons behind the staff reductions, the CEO switch, and the abandonment of the AI transition, it is advisable to consult recent industry updates or official communications from Benlabs.
