Zenefits Moves to Shed Scandals, Transform Image
While most people may not know exactly what Zenefits does, it’s likely they know about the hits it took last winter. They included: regulatory hurdles, accusations that it violated insurance-provider licensing regulations, layoffs, leadership changes and that issue it had with employees’ penchant for sex in the stairwells.
Now Zenefits, which describes itself as a software company geared to HR departments, is making over its image with a new logo (same name, different look), an event that features marquee names such as Arianna Huffington and venture capitalist Ben Horowitz, and a pivot in how it does business.
Zenefits’ software helps companies manage payroll and provide employees access to things like their benefits and vacation time. It gives this software away for “free” in exchange for helping said companies acquire health insurance. Investors once valued Zenefits, which launched in 2013, at $4.5 billion (it’s since lost half its valuation).
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