• Latest News:
    • Food Delivery Startup Postmates Files for IPO
    • T-Mobile Planning a Streaming Video Marketplace to...
    • Tableau Credits Subscription Transition and...
    • Spotify Takes a Hard Line Against Free Listeners Who...
  • Login
    • Forgot your password?
  • Home
  • Categories
    • Industry News
    • Features
    • Case Studies
    • How-to Articles
    • Best Practice Guides
    • Reports & Research
    • Tools, Check Lists & Calculators
    • Sample Library
    • On-Demand Webinars
  • Topics
    • Audience & Demand Generation
    • Conversion Marketing
    • Regulation & Compliance
    • Renewals & Payment Processing
    • Building Subscription Products
    • Business Operations & IT
    • Subscription Sales
    • More Topics
  • Events
  • Training
  • Join Now
Industry News

Mic Lays Off Majority of Staff and Is Bought by Bustle for $5 Million

Dana E. Neuts, Subscription Insider December 3, 2018
0 comments
0

Tags: Mergers & Acquisitions (M&A) Business Operations & IT Building Subscription Products Consumer (B2C) News Content

img

Some blame the layoffs on Facebook’s cancellation of Mic’s Facebook Watch series, “Mic Dispatch,” which was estimated to bring in $5 million annually.

Last Thursday, millennial-focused digital news site Mic laid off most of its editorial staff and was subsequently bought by the Bustle Digital Group for $5 million, reports Recode. Mic co-founder and CEO Chris Altchek announced the layoffs at an all-employee meeting on Friday. Approximately 30 staffers of more than 100 will remain at Mic, including Altchek and co-founder Jake Horowitz, says Recode. As severance, most employees would receive one month of pay and health care. They were told to clean out their desks by the end of the day and that their computer access would be shut off at 2 p.m. on Thursday, says The New York Times.

Subscription Insider now embargoes NEWS and FEATURE articles 14 days after they are published.
All registered site users can enjoy access to our full archive of news and feature content by logging in.

Remember — Subscription Insider membership includes access to all embargoed content.

Subscription Insider has upgraded to a new technology platform and our login process has changed:

FOR FREE EMBARGOED ACCESS:

  • Newsletter Subscribers (Free): Please log in using the email you used to signup for our Newsletter. The first time you log in, you will need to reset your password.
  • Registered Site Users: Please use the email and password you used when you registered for free site access for Subscription Insider.

Log In

Forgot your password?

Register

Search This Site
Related Articles
  • Five on Friday: Web Design, Retention and Ad Revenue
    Mergers & Acquisitions (M&A)
  • Weekly Subscription News: FabFitFun, Furniture and Fujitsu
    Box Subscription
  • Five on Friday: Ad Blocking, BrightByte and Subscription Jobs
    Gaming
Stay in the know. Get the Weekly Subscription News Round-up! Free Newsletter
Underwriters
LEARN MORE
Upcoming
Subscription Show 2019
CONFERENCENovember 4, 2019
LEARN MORE

Convert. Retain. Grow.

Follow us
Company Links
  • About Us
  • Our Team
  • Our Partners
  • Insider Guides
  • Press
  • Mastermind Program
Contact
1-800-764-9133 Email Customer Service Request New Password
Subscribe to our weekly, Subscription News Round-up. Its Free!
© 2009-2019 Authority Media Network, LLC. All rights reserved. Reproduction without permission prohibited.
Privacy Policy|Terms of Use|Earnings Disclaimer
Subscription Insider Logo
Get Subscription News
and Information
FREE!