Skillz

How it happened

Skillz ran a mobile competitive gaming platform letting players enter skill-based cash tournaments, and went public via SPAC in 2020, peaking around $10B in 2021. Heavy marketing spend, declining paying users and ongoing losses crushed the stock, which fell roughly 99% to about $0.1B, and a 1-for-20 reverse split followed as its market cap sank far below unicorn status. Glassdoor reviews from the 2022 slide describe morale souring as the shares fell — several layoff rounds and heavy attrition, a return-to-office reversal that landed after remote work had been promised, monitoring software placed on laptops, and top-down management that left employees little say in the company's direction.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.