"Hartbeat produced films and TV shows, managed video channels and handled brand partnerships. The goal was building a business that could survive without its founder. Instead, it collapsed, Bloomberg reports."
"Soon after, Hollywood's production market cratered, staff meetings were constantly canceled, and Hart disappeared for weeks at a time. Hartbeat couldn't function without him. Three CEOs cycled through in two years. The company laid off nearly a quarter of its workforce before Thanksgiving, then cut another dozen in December."
"In January, Hart announced a deal with Authentic Brands Group that moved his endorsement deals outside Hartbeat. "I know the past few months have been tough," Hart wrote employees. The email was signed "Kevin AKA Boss Man." It was sent by his assistant."
Hartbeat was valued at $650 million in 2022, but three years later Kevin Hart bought out investors as employees feared the company was finished. Hartbeat produced films and TV shows, managed video channels, and handled brand partnerships, aiming to build a business that could operate without its founder. The company opened offices in New York, Atlanta, and a large West Hollywood space, but Hollywood’s production market later cratered. Staff meetings were frequently canceled, Hart was absent for weeks, and three CEOs cycled through in two years. Hartbeat laid off nearly a quarter of its workforce before Thanksgiving and cut additional employees in December. In January, Hart moved endorsement deals outside Hartbeat through a deal with Authentic Brands Group.
Read at Entrepreneur
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