Mashable is planning to lay off 30% of its workforce, after the company was acquired by Ziff Davis for approximately $50 million.
Ziff Davis is an American internet publishing company, and it is a subsidiary of tech company j2 Global. Currently, the company manages online publications such as PCmag, IGN, Everyday Health, and AskMen.
According to several reports, an estimated 50 employees are being dismissed. Mashable will try to give employees jobs at other Ziff Davis publications. However, based on the amount of Mashable reporters who announced goodbyes on Twitter, that does not seem to be the case.
One of the employees who was laid off is Lance Ulanoff, Chief Correspondent and Editor. Ulanoff worked with Mashable for almost six years, human editor Max Knoblauch, business reporters Patrick Kulp and Emma Hinchliffe, and games editor Tina Amini.
Mashable was founded in 2005 by current CEO Pete Cashmore. It started out as a tech blog and eventually grew to become a global media company centered on technology. Just in March last year, Time Warner’s Turner led a US$15 million funding round for the company. According to a press statement issued at the time, the investment includes a partnership for video production, technology and advertising opportunities between the two companies.
Mashable was formed in 2005 by Pete Cashmore, who is currently the company’s CEO. It began as a tech blog, growing to become a global media company focused on technology. Last year, Time Warner’s Turner led a $15 million funding for the company. This investment includes a partnership for video production, technology, and advertising opportunities between the two companies.
This news came at a very demanding time for digital online publishers. Last week, Buzzfeed disclosed they would be laying off 100 employees in the US, and they would restructure their advertising sales operation. This was “amid a tough digital media market,” according to reports. The cuts reflect about 8% of their staff.