Prezzee, the gift card company backed by billionaire Shaun Bonett, has cut about 10 per cent of its workforce, largely in its technology team.
At the height of the technology market boom in 2021, the company had been chasing a valuation of as much as $1 billion and considering listing on the ASX. That did not happen, and markets have declined sharply since.
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Nick Bonyhady is a technology writer for the Australian Financial Review, based in Sydney. He is a former technology editor, industrial relations and politics reporter at the Sydney Morning Herald and Age. Connect with Nick on Twitter. Email Nick at nick.bonyhady@afr.com
