RapidAPI, valued at $1 billion last year, cuts staff by 50%

Rapid (previously known as RapidAPI), a startup that built out an API marketplace valued at $1 billion last year, is cutting 50% of its staff TechCrunch has learned.
According to an email to employees from CEO Marc Friend viewed by TechCrunch, the move is part of “a significant restructuring” in an effort to “right-size the company.”
In the email, Friend said that Rapid tried “to compete on too many fronts” as a product company.
He added: “We have grown large as an organization and often sacrificed agility. Moving forward, we will be disciplined on our product focus and ruthless about customer

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