Sensor Tower undergoes major restructuring, announces layoffs

Sensor Tower, the renowned market intelligence firm, has recently undergone a significant restructuring, resulting in the layoff of 40 staff members, including key figures such as the Chief Marketing Officer (CMO), Chief Product Officer (CPO), and Chief Financial Officer (CFO). The restructuring announcement was reported by Techcrunch. 

The news of these changes was communicated to the company’s staff during an all-hands meeting, indicating that further adjustments may still be in progress as part of a broader corporate restructuring effort. While no specific details were initially disclosed, Sensor Tower has confirmed that a comprehensive statement will be released later this week.

Melissa Sheer, a publicist representing Sensor Tower, provided insights into the situation, stating, “Earlier this week, Sensor Tower’s management team took necessary steps to reorganize and right-size our business under a talented and experienced senior leadership team. We are excited about these changes as we position the company for a balance of continued growth and best-in-class profitability. We will provide more details in the coming days.”

Sensor Tower has experienced significant growth in recent years, partially attributed to a $45 million investment from Riverwood Capital in 2020. At that time, the company had a workforce of just 75 employees and served 350 major clients, including mobile industry giants like Zynga and Tencent. The acquisition of fellow market intelligence firm Pathmatics in 2021 further propelled Sensor Tower’s expansion, enabling it to enhance its digital and mobile insight capabilities and broaden its client base. 

This development is part of a broader trend of layoffs that have impacted the tech sector, affecting companies of various sizes, including some industry heavyweights. The companies that cut staff or announced plans to do so include Google’s parent Alphabet, Meta, Microsoft, Amazon, Spotify, and Electronic Arts.

Despite mobile gaming‘s status as the world’s most lucrative gaming platform, it’s important to acknowledge that 2022 witnessed challenges across the industry as it adjusted to a post-“Covid boom” era, resulting in declines in various segments. While some companies continued to generate profits, it appears that the industry as a whole is adapting and taking measures to navigate uncertain times in anticipation of smoother sailing ahead. 

In March, Sensor Tower’s Mobile Economy and Digital Ad Space and Beyond report showed that Global app installs remain above pre-Covid levels despite slowdown. 

Additionally, another recent report by Sensor Tower revealed the Puzzle genre rakes in $42 billion.