Magic Johnson Leaves Cameo's Board

Kicking off today’s newsletter with a scoop: Cameo in recent weeks has sought to raise at least $10 million in funding, according to a person with direct knowledge of the matter. Such a deal, if completed, would be a sign investors are still hopeful of the celebrity video site’s future. But the site has also lost a high-profile ambassador. Earvin “Magic” Johnson left Cameo’s board earlier this year, a Cameo spokesperson confirmed, and he’s also no longer available to book on the service. 

The changes come during a tumultuous year for the six-year-old startup, which has slashed its workforce to one-tenth of its peak size, conducting a July round of layoffs after failing to raise new cash.