May 17, 2025, 12:18 pm | Read time: 3 minutes
Forget mental health: Wondermind is more of an emotional rollercoaster. The once-celebrated startup focused on mental health, founded by pop star Selena Gomez, her mother Mandy Teefey, and entrepreneur Daniella Pierson, is currently on shaky financial ground—and quite severely so.
Wondermind was launched in 2021 with the goal of bringing mental health out of the taboo zone. Podcasts, interviews, and articles were meant to make the topic more accessible—with plenty of star power behind it. After all, we’re talking about Selena Gomez: Hollywood star, TV queen, beauty entrepreneur, and now billionaire.
Overview
Wondermind: Big Names, Empty Coffers
But the reality behind the scenes sounds far less glamorous, according to Forbes: Of the original 15 employees, nine have been laid off—that’s about two-thirds of the entire team. A real bombshell.
The financial problems began as early as March. The first warning sign: wages that suddenly stopped appearing in employees’ accounts. As a bonus: the loss of health benefits—including medical, dental, and vision care. And this in a company dedicated to well-being. Ironic? Somehow, yes. While the staff waited for answers, CEO Mandy Teefey—Selena’s mother—reportedly took out a loan on her house to pay outstanding salaries, according to Page Six. For now, employees received at least one of the outstanding paychecks. Freelancers and external service providers are reportedly still waiting for a substantial sum—some in the six-figure range.
Growing Pains or Warning Sign?
Wondermind itself refers to “growing pains” in a brief statement—as if sudden layoffs and empty accounts were a normal side effect in the life of a startup. The mention of an upcoming “new chapter” sounds more like PR talk than a concrete plan. Speaking of PR: Even the agency that was supposed to put Wondermind in the media spotlight is reportedly still waiting for about $60,000.
Selena Gomez—Absent Rather Than Active?
Selena Gomez is listed on the official website as “Chief Innovation Officer”—but she doesn’t seem to be truly present in day-to-day operations. As a current employee told Forbes, they even regularly struggled with her management to get her involved in projects. Allegedly, she has only spoken to the team once in three years.
Wondermind naturally disputes this. But it’s clear: Gomez has been busy elsewhere—among other things, with new TV episodes, a Golden Globe-nominated film, a fresh album, and her engagement to Benny Blanco.
The Investors Remain Silent
Wondermind started with momentum: In 2022, it raised a full $5 million—from Serena Williams’ company and other notable investors. The company’s value? Reportedly $100 million. But there’s no sign of a second round of financing. There were talks, apparently—but no results.
One reason for this, according to former employees, could be Teefey’s leadership style. She reportedly rejected deals with major brands like Airbnb as soon as they required Selena’s active involvement.
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What Remains of Wondermind
As of now: A dazzling startup with big goals that has overwhelmed itself—financially and organizationally. For a company that wanted to help others better cope with mental challenges, its own crisis is particularly bitter. Whether Wondermind gets a second chance or quietly disappears from the industry remains to be seen.