EcommerceBytes has heard the layoffs impacted between 9% and 22% of Auctane’s workforce, a number we asked in a follow-up for Auctane to share. Private equity company Thoma Bravo acquired Stamps.com for $6.6 billion in 2021, and in a matter of months it took it private and rebranded the company to Auctane. By the spring of 2023, it had overhauled its management team and appointed Albert Ko its new CEO that June. https://www.ecommercebytes.com/2024/02/20/layoffs-hit-shipping-solution-auctane-aka-stamps-com/ Private equity firm overpaid for it during Covid equity bubble..
The name change is stupid