Digital Media Startup The Messenger Lays off 20% Staff

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Startup The Messenger faces  tough financial situation and has Laid  of 20% staff . The digital news startup The Messenger is said to layoff approximately 30 employees  by end of the Jan First week 2024 .This is part of their cost restriction process .According to the report by the New York Times  the company is currently under severe financial crisis  and with lower digital advertisement  cost cutting looked as only survival chance ,

Challenging advertising digital advertising  landscape and tough economic market conditions advertises have limited there budgets which has led to  digital news platform like the Messenger to cutting measures to ensure financial stability .The Messenger released statement  sharing the ongoing ongoing challenges  but also share a positive news that the companies in between a fundraising round  but there is no clarity on receiving the next round .

The Messenger President Richard Batman  has announced his departure from the company due to short term health issues . In a LinkedIn postman Richard mentioned  about his decision to step down  by end of January . He would remain invested in the company and assist in smooth transition.  The Messenger was launched in May 2023  with a target of reaching 100 million monthly readers and generating over $100 million revenues by 2024 . It looks like the company has missed the target very badly and the departure of key executive signals  the challenges the digital  new space is facing .  Messenger staff layoffs  underscore the dynamic and the competitive nature of digital media industry  and with this funding winter  startup speed to adopt  to stay a float in any market conditions.

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