It is not the happiest new calendar year at social publishing platform Medium, seemingly.
In accordance to a website post from its CEO Ev Williams, also co-founder of Twitter, the perfectly-funded startup is laying off 50 personnel in non-engineering roles and shuttering its places of work in New York and Washington, D.C.
Williams took the rosiest achievable angle on alterations happening at Medium, titling his announcement about the layoffs “Renewing Medium’s target.” In the post, the CEO explained that the layoffs are going on as portion of a broader prepare to shift Medium’s organization design.
Primarily, the company is striving to stay away from repeating what other blogging platforms have completed, encouraging publishers or authors to target on arrive at and site views to create advertising and marketing revenue, instead than encouraging them to target on excellent facts and storytelling.
Medium’s levels of competition incorporates social networks utilized by publishers and particular person creatives to distribute their do the job, and other blogging platforms like the 800-lb. gorilla in this room, Automattic’s WordPress, as perfectly as Fb, and businesses nearer to Medium’s age, like Patreon, the blogging-fulfills-crowdfunding platform where creatives get compensated immediately by subscribers right before publishing a news attribute, internet comedian or anything at all else online.
Medium has lifted $132 million in a few outsized rounds of undertaking funding from corporations including Spark Money, Andreessen Horowitz and Greylock, in accordance to Crunchbase.
In his post, Williams stated the platform experienced developed 300 % calendar year-about-calendar year in phrases of posts revealed and visitors, from 2015 to 2016. He did not disclose revenue or other metrics.
Buyers in and executives at Medium had been not right away readily available to remark.
Showcased Image: techcrunch.com