Vendr Organizational Update

This message was shared earlier today with Vendr employees.

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Team:

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I have difficult news to share, which is one of the hardest decisions I’ve had to make in Vendr’s history. Today, Vendr is announcing a company-wide reorganization. This move is designed to better align our resources with our mission – to fix sales and change how the world buys and sells software – and to orient the business on a path to profitability. This reorganization results in reducing the size of our team, which means we will say goodbye to many smart, talented, and hardworking teammates. Today will be a difficult day for teammates leaving Vendr, as well as for teammates who are staying. 

Impacted US and Canadian employees and contractors will receive an email within the next 10 minutes containing information, support details, and a webinar invitation to discuss next steps. For impacted non-US and non-Canadian employees, this process will vary in accordance with your country of residence.

Below, I’ll share why I made this decision, and how we plan to support our team going forward.

Vendr was founded in 2018, creating and leading the category to change how companies buy and sell software. Since then, we’ve made significant progress towards our mission and have been fortunate to receive significant funding, which has helped spur our growth. However, in the last year, the economic climate has changed, putting pressure on companies that spend more money than they make and rewarding companies that prioritize efficient growth. Vendr is not immune to this. To control our destiny, we must build a profitable business that grows efficiently – this is what we intend to do.

To Impacted Team Members: This decision to rightsize rests solely with me. I fully acknowledge the significant impact this has on our impacted teammates and their families. I am dedicated to helping ensure our alumni transition smoothly and am committed to learning from this process to evolve as a founder and CEO. 

Our priority today is offering comprehensive support. This includes cash severance, retention of equipment, and continued health insurance coverage for those under Vendr's plan. Additionally, we’ve created an optional program to help impacted teammates land on their feet, with warm introductions to companies that are hiring. 

Impacted employees will soon receive an email to their personal accounts detailing next steps and an invitation to a webinar that will share more details. All emails will come from Vendr Communications (communications@vendr.com). For those impacted, today is their last day at Vendr. As a founder, I feel a profound sense of responsibility for this decision. Thank you for betting on Vendr, and me – I am incredibly grateful to you. I am dedicated to supporting your next steps as valued members of the Vendr alumni. 

To Our Continuing Team: This day is undoubtedly tough for everyone. The changes, while painful, are crucial steps towards building a stronger company. Non-impacted employees will receive an email with an invitation to an All Hands meeting later today to discuss our path forward. All emails will come from Vendr Communications (communications@vendr.com). It’s important that you have a chance to hear from me about this decision. We will take a pause to digest the decision and then we will focus all of our efforts on delivering an exceptional experience for our customers.  

To Our Customers: My commitment to our mission and vision to transform sales remains unshaken. Ensuring our customers are set up for success without disruption is a key focus for us. If there are any changes to your point of contact at Vendr, you will have already received an email from us, detailing next steps. For any concerns or questions, I'm directly reachable at ryan@vendr.com.

To Employers: If you're interested in connecting with our team members impacted by these changes, please complete this form. We are committed to facilitating introductions with our talented alumni. They represent some of the brightest, most compassionate, and dedicated professionals you'll encounter.

In the early days of Vendr, we had limited resources. We relied on grit and innovation, and fought hard for every success – these are also the days where we moved the fastest. The next chapter of Vendr will be marked by efficiency, speed, and customer delight. 

Ryan Neu

Co-Founder and CEO