Quora, a 10-yr-previous dilemma-and-answer startup dependent in Mountain See, is laying off staff members in its Bay Space and New York workplaces, the company’s CEO announced on the website today.
Like other startup leaders remaining pushed by traders to target extra heavily on income movement, CEO Adam D’Angelo wrote that the layoffs and “organizational changes” have been staying pursued in buy to focus on “scaling the firm in a economically responsible way.”
D’Angelo did not disclose the scale of the layoffs. Recode documented last year that Quora was locking down $60 million at a $2 billion valuation, noting at the time that the startup experienced close to 200 personnel. The firm has publicly disclosed $225 million to day according to Crunchbase, from investors together with Benchmark, Peter Thiel and Y Combinator.
We’ve achieved out to the corporation for additional comment.
“[W]e need to cut down our burn off rate to a sustainable degree from which we can emphasis on pursuing the mission and rising the company in excess of the extended time period. We do not want to be dependent on outside funds, so self-reliance and very careful administration of our resources are important to our long term,” D’Angelo wrote.
Over the past several weeks, layoffs have been hitting startups, like many in SoftBank’s portfolio as well as Mozilla and, just right now, genetic testing startup 23andMe.