Sunday, March 15, 2009

techcrunch: Spot Runner Is Running On Fumes: Another 60 To Lose Their Jobs

"Yesterday was a particularly bad Friday the 13th at Spot Runner, the Los Angeles startup that is trying to Web advertising techniques to TV. The company told employees it would need to go through its third major round of layoffs in less than a year. At least 60 people were told the would be let go, the company confirms. We’ve added the 60 to our Layoff Tracker.

This is on top of the 115 employees who lost their jobs last November and the 50 morelast August. Throw in natural attrition, and the company, which at one point numbered more than 500 employees, could soon be down to less than 120 people.."

Investors include: 

Two firms instrumental in our inception were: Battery Ventures, a leading venture capital firm focused on investing in technology companies at all stages of growth; and Index Ventures, dedicated to working with entrepreneurs in world-class technology companies. Some of Battery Ventures' previous investments include Infoseek and Friendster; Index Ventures's track record includes Skype and Infospace among many others.

Joining these two companies are two of the world's largest advertising and marketing services companies, WPP and Interpublic Group, along with three of the world's largest mass media companies, CBS Corporation, Daily Mail and General Trust (DMGT) and Grupo Televisa, S.A.B. Together, these powerhouse names are backing Spot Runner's mission and vision as a company.

In addition, investors like Allen & Company, Legg Mason, and Tudor Investments, have found Spot Runner a smart choice as an investment for the future of advertising and web technology.

1 comment:

Anonymous said...

The next to fail at this will likely be Spotzer, who like Spotrunner, also charged additional fees for air time. Google will follow them in failure after the FTC gets wind of Restraint of Trade issues regarding the secret deal Google made with EchoStar/Dish which excludes real media agencies from buying certain classes of air time. There are limitations to the good that venture capital can do to build companies, after which there can be heard a loud flushing sound. But the public is getting wiser. Passive investment is for the birds. Specifically birds of the scavenger variety.