Youth-focused digital media startup Mic cuts staff amid uncertain future After Facebook tweaked the
Source: NBC News
Mic, the youth-focused news outlet that was among the most recognizable digital media startups fueled by venture capital and Facebook traffic, laid off most of its staff on Thursday, according to a company spokesperson.
The layoffs, first reported by the tech news outlet Recode, add to a particularly brutal stretch for media startups that had once been viewed as the future of news.
Recode reported that the company could be sold to another digital media startup, Bustle. An email inquiry to Bustle was not immediately returned.
Started in 2011 as PolicyMic, the company was founded by Chris Altchek and Jake Horowitz and raised about $60 million in venture funding. It soon established itself as a millennial-focused news organization that found success with social media-friendly articles about and bite-sized videos.
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