StumbleUpon Cuts 30% Of Staff, All Company Areas AffectedBy: Chris Crum - January 17, 2013
StumbleUpon has laid off 30% of its staff, as reported earlier by TechCrunch, who interviewed CFO and interim CEO Mark Bartels. The company has been reduced to 75 employees (down from 110).
StumbleUpon’s Mike Mayzel tells WebProNews, “StumbleUpon is restructuring to enable the company to become more streamlined, focused and to better execute against its goals in 2013. As a result of these changes, the company will be profitable and will operate more quickly and efficiently and experiment more aggressively. We continue to grow and remain focused on providing the best discovery experience on the Web.”
According to the TechCrunch report, the company’s revenue has grown by 300% over the last three years. In recent months it has pushed out some major new products, like a big overhaul of its website, and new apps for iOS, Android and Windows 8, all complete with new discoverability features that really do make StumbleUpon itself more of a destination in addition to sending users all around the web.
Mayzel says the restructuring affects all areas of the company, including engineering, product and marketing.