US EditionSelena Gomez’ Struggling Mental Health Startup Lays Off Nearly Two-Thirds Of Its Employees
- Wondermind, a mental health startup co-founded by Selena Gomez and led by CEO Mandy Teefey, laid off nine of its 15 employees in May 2024 in Austin, Texas.
- The layoffs followed financial challenges that began after Teefey became sole CEO in January 2023, coinciding with delayed investor funding and failure to secure a Series B round.
- Employees missed one of two paychecks, lost health benefits in March 2024, and vendors were owed hundreds of thousands, while Teefey took a loan against her home to sustain operations.
- Wondermind raised $5 million in 2022 from high-profile investors, was valued at $100 million, and stated it has rectified payment issues to continue supporting hundreds of thousands in mental fitness.
- The company plans to transition into a new chapter under Teefey's leadership, emphasizing ongoing work in mental health despite the recent financial and staffing setbacks.
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Selena Gomez's Mental Health Startup Allegedly Failed To Pay Its Staff And Abruptly Cut Their Health Benefits
“i hope selena, the billionaire, can help the employees feed their families,” someone wrote in response to Forbes’ report, which claimed that Selena’s mom took out a loan in order to pay their company’s outstanding debts.View Entire Post ›
·New York, United States
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Total News Sources21
Leaning Left1Leaning Right4Center4Last UpdatedBias Distribution44% Center, 44% Right
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- 44% of the sources are Center, 44% of the sources lean Right
44% Right
11%
C 44%
R 44%
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