Wondemind, a mental health startup co -founded by singer and actress Selena Gomez, is experiencing a serious financial crisis, with the company facing paying its employees, suppliers and freelancers. The information is from Forbes.
Since late March, the company, which has been headquartered in Los Angeles and employs about 15 people, has not been able to honor financial commitments, leading his CEO, Mandy Teefey, Gomez’s mother, to contract a loan by giving his home as a guarantee to pay off outstanding debts.
Although some employees have received a late payment, many still await the payment of salaries and other due amounts, which amount to tens of thousands of dollars.
A Wonderind spokesman stated that the situation was “rectified” and that all creditors would receive their payments the following week.
The company, which was launched in 2021 and raised $ 5 million in a round of financing in 2022, has faced financial difficulties since Teefey assumed CEO in January 2023, after the departure of co -founder Daniella Pierson.
Employees reported that Teefey’s lack of operational experience may have contributed to the company’s financial problems, including refusal to close important agreements that could have generated revenue.
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Wondermind’s financial challenges intensified in March, when employees did not receive their salaries.
In an internal statement, Teefey attributed the situation to a delay in paying an investor, promising that the company was close to ensuring a new financing.
However, the expected investment round has not been confirmed, and the company continued to face difficulties.
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With the increasing pressure, Teefey announced in a meeting that he had taken a loan to cover the debts and that the company was in negotiations to ensure additional financing.
However, the uncertainty about Wondermind’s ability to support itself in the long run persists, leaving employees concerned about the company’s future and its own financial security.
“Even if this loan is released, what will happen next?” Asked one employee.
