Commercetools, a pioneer in ‘headless commerce’, lays off dozens of staff

Commercetools — a “headless commerce” platform that provides APIs to companies building online storefronts — saw a major boost in its business just a few years ago, raising money at whopping $1.9 billion valuation as the world went shopping online in the wake of the Covid-19 pandemic, and businesses rushed to improve their e-commerce operations. Today, the playbook looks a little different for e-commerce, and for Commercetools. TechCrunch has learned and confirmed that Commercetools has laid off dozens of employees over the last few weeks, including around 10% of staff earlier Wednesday, after failing to meet its sales growth targets. It’s also making a number of executive changes, including parting ways with its chief revenue officer and CFO, and reassigning the roles previously held by its chief information security and compliance officer. “While we’ve made meaningful progress and our business continues to grow, over the last several quarters we haven’t fully achieved our aggressi ... Read full article.