How Prince Harry’s $5 Billion Startup Went South

The mood was grim when employees of the unicorn startup BetterUp assembled for a team meeting this winter, but their CEO, Alexi Robichaux, seemed dressed for a costume party. The company, which specializes in career and life coaching, had whiffed on its original revenue target, according to two people familiar with the matter, and Robichaux had gathered them to announce a shift in strategy. He likened the reorganization to a train switching its track, one of the people said—which is why he was holding a train whistle and wearing a conductor’s cap.

Robichaux blew the whistle as he unveiled new changes, the attendee recounted: “It was one of the most awkward calls I’ve ever been on professionally.” Staffers’ pictures appeared on slides announcing their new roles. When the attendee’s photo popped up, he grimaced. “It kind of felt like someone was reading my obituary,” he said.

Last valued at $4.7 billion, BetterUp is perhaps best known for its chief impact officer: Prince Harry, Duke of Sussex, who joined the corporate team in 2021. But even with a former royal among its ranks, the startup has struggled to maintain its footing. Last year, its vast roster of contracter coaches staged a revolt after the company modified their pay; the relationship remains fraught, several coaches told The Daily Beast.

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