BuyWithMe Lays off More Than Half of its Employees
1–10 of 24 posts
Re: BuyWithMe Lays off More Than Half of its Employees
#2Wow, that's... interesting. When I hear an ex-employee talk about why the company is laying people off I always take it with a grain of salt-- but still interesting none the less.
Re: BuyWithMe Lays off More Than Half of its Employees
#3Groupon can't get it to work with unlimited $ - how can a 3rd rate clone make it work?
Re: BuyWithMe Lays off More Than Half of its Employees
#4The reckoning is clearly coming on this industry (daily deals / group buying). Just look at Groupon cutting their IPO in half today.
But the way this happened is really terrible. They laid of tons of people with no warning and no severance.
They did not have to try and raise more money at a ridiculous valuation. They could have taken a flat to down round, stopped buying other little companies, and tried to make it work.
Re: BuyWithMe Lays off More Than Half of its Employees
#5At this time BuyWithMe is laying off 75% of their workforce
Technically yes, that's more than half, but maybe they should have said 75%. That's quite a chop and it certainly tells us something about (a) the finances of the company, and (b) the state of the group-buying industry.
Re: BuyWithMe Lays off More Than Half of its Employees
#6At this time BuyWithMe is laying off 75% of their workforce Technically yes, that's more than half, but maybe they should have said 75%. That's quite a chop and it certainly tells us something about (a) the finances of the company, and (b) the state of the group-buying industry.
But what one employee says it 75% another "estimates to be about 55 percent of the staff"
http://www.betabeat.com/2011/10/19/canned-buywithme-employee...
Re: BuyWithMe Lays off More Than Half of its Employees
#7It just doesn't seem like there's any room in the market for Groupon and all of the me-too startups. The business model for most of these companies don't seem to add up in the long run either.
Re: BuyWithMe Lays off More Than Half of its Employees
#8The reckoning is clearly coming on this industry (daily deals / group buying). Just look at Groupon cutting their IPO in half today. But the way this happened is really terrible. They laid of tons of people with no warning and no severance. They did not have to try and raise more money at a ridiculous valuation. They could have taken a flat to down round, stopped buying other little companies, and tried to make it wo…
> The reckoning is clearly coming on this industry (daily deals / group buying).
With more folks predicting recession (eg http://www.channelregister.co.uk/2011/10/18/gartner_recessio...), I doubt it will be just this industry.
Re: BuyWithMe Lays off More Than Half of its Employees
#9If there are any buywitme employees out there check out adaptly.com send me an email at sean@adaptly.com. We're highly profitable, and have the kind of people who make big things happen
Re: BuyWithMe Lays off More Than Half of its Employees
#106 purchases in 6 months, then asking for more money... Sounds like a VC/PE firm, not a deal site. If you're out of cash, I understand letting people go in a hurry but that management team will struggle to get employees in their next venture.