Medium lays off 50 workers, shuts down New York and D.C. workplaces
It’s not the happiest new yr at social publishing platform Medium, apparently.
In line with a weblog submit from its CEO Ev Williams, additionally co-founder of Twitter, the well-funded startup is shedding 50 workers in non-engineering roles and shuttering its workplaces in New York and Washington, D.C.
Williams took the rosiest attainable angle on adjustments occurring at Medium, titling his announcement concerning the layoffs “Renewing Medium’s focus.” Within the submit, the CEO defined that the layoffs are occurring as a part of a broader plan to shift Medium’s enterprise mannequin.
Primarily, the corporate is attempting to keep away from repeating what different running a blog platforms have performed, encouraging publishers or authors to give attention to attain and web page views to generate promoting income, moderately than encouraging them to give attention to high quality info and storytelling.
Medium’s competitors contains social networks utilized by publishers and particular person creatives to distribute their work, and different running a blog platforms like the 800-lb. gorilla on this house, Automattic’s WordPress, in addition to Fb, and corporations nearer to Medium’s age, like Patreon, the blogging-meets-crowdfunding platform the place creatives receives a commission immediately by subscribers earlier than publishing a information function, net comedian or the rest on-line.
Medium has raised $132 million in three outsized rounds of enterprise funding from corporations together with Spark Capital, Andreessen Horowitz and Greylock, based on Crunchbase.
In his submit, Williams mentioned the platform had grown 300 p.c year-over-year when it comes to posts printed and readers, from 2015 to 2016. He didn’t disclose income or different metrics.
Buyers in and executives at Medium weren’t instantly out there to remark.