Introduction
Pocket Aces is a digital entertainment company based in Mumbai. It was founded in 2014 by Anirudh Pandita and Ashwin Suresh. The company is known for producing web series and short films that cater to the millennial audience.
History
Pocket Aces started as a content aggregator, curating viral videos and memes from across the internet. In 2015, the company launched its own content verticals, FilterCopy, Dice Media, and Gobble. These verticals produced short-form content that resonated with the young Indian audience.
Funding and Investors
Pocket Aces has raised $19 million in funding from investors such as Sequoia Capital India, North Base Media, and 3one4 Capital. In 2019, the company raised $14.8 million in a funding round led by Sequoia India and DSP Group.
Performance
Pocket Aces has been growing steadily since its inception. The company’s original series, such as Little Things and What the Folks, have been highly successful and have garnered a large following on social media platforms.
Layoffs
In June 2023, Pocket Aces laid off 50 employees, which amounted to 25% of its workforce. The company cited a slowdown in the industry and the need to optimize operations as reasons for the layoffs. Pocket Aces also stated that it would be focusing on enhancing its existing content verticals and exploring new formats.
Statement from company stakeholders
Anirudh Pandita, co-founder of Pocket Aces, stated that the decision to lay off employees was a tough one, but it was necessary to ensure the long-term sustainability of the company. He also added that the company was committed to supporting the employees who were impacted by the layoffs.
