On August 15, 2019, Engine Capital, L.P. issued an open letter to Care.com, Inc.'s Board of Directors encouraging the Board to initiate a parallel process to explore strategic alternatives while searching for a new Chief Executive Officer and implementing various value enhancing initiatives identified by Engine Capital. Engine Capital also expressed its view that the Company could be worth $14.00 to $19.40 per share in a transaction. Engine Capital stated that it recommends steps be taken immediately to improve the Company's corporate governance, rationalize its cost structure, and optimize its balance sheet.