According to NewTeeVee, SpotRunner is downsizing and reorganizing to meet the changes in the local marketplace for television advertising. Considering the impact of reduced auto advertising on all media, not to mention the migration of classifieds online, it’s therefore not too surprising that they would adjust their focus.
“Spot Runner confirmed late Tuesday it had made layoffs earlier in the day, the news of which was first reported by Valleywag but not in entirely correct fashion, according to a company spokesperson. The advertising platform let go of about 50 people, or 10 percent of its staff, said VP of corporate communications Rosabel Tao.
…Tao insisted the layoffs were part of a “natural course correct” as Spot Runner grows. “The timing of this given the economy, people can jump to conclusions,” she said. “But this is why we’re glad we raised so much money.”
Anytime anyone can say, “We’re glad we raised so much money,” means ‘they’re glad they raised so much money.’