spotrunner layoffs

• Co-founder and CEO of SpotRunner, Nick Grouf, has announced that the company has laid off around 30% of their staff, or 115 people.
• Majority of the layoffs come from the local search advertising arm as the economy has scared away their local merchants who SpotRunner targets to sell television time to.
• As the company moves towards signing on bigger clients who are less prone to a downturn, they had no choice but to lay down the axe.
• SpotRunner will not be hitting the deadpool anytime soon though. They just raised a fresh $51M in may and they are bringing in revenue.

TC

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