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Wondermind Cuts 60% Staff Amid Financial Crisis

5/14/2025

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Summary

Story summary

Wondermind, co-founded by Selena Gomez and Mandy Teefey, has laid off 60% of its staff due to financial difficulties.
The startup is experiencing cash flow problems and has unpaid employee wages.
Teefey secured a loan against her home to address debts as the company seeks to pivot.
Gomez, serving as Chief Innovation Officer, is not involved in daily operations, prioritizing her acting and music career.

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Story summary

Wondermind, co-founded by Selena Gomez and Mandy Teefey, has laid off 60% of its staff due to financial difficulties.
The startup is experiencing cash flow problems and has unpaid employee wages.
Teefey secured a loan against her home to address debts as the company seeks to pivot.
Gomez, serving as Chief Innovation Officer, is not involved in daily operations, prioritizing her acting and music career.