Helium’s Bubble bursts and laysoff

Monday, October 27th, 2008 | Uncategorized with

Online writing community Helium laid off 1/3 of it’s staff as advertising rates collapse.  Writers can place content into 24 different “channels”, which in turn get distributed via the Helium network to third party sites.  Helium shares ad revenue with the writers, less a transaction fee.  The company previously raised $17m.

According to insiders, the layoff was much closer to 50% with 18 of 35 employees kicked to the curb.

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