This year, the misleadingly titled Cyber Monday is projected to be the biggest shopping day in history for online retailers. FedEx is forecasting that the Monday after Thanksgiving, Dec. 2, will produce the “company’s highest volume in history,” Read More
Well, well: Looks like even as Tumblr was shuttering Storyboard, the company was getting ready to begin another chapter on the sunny West Coast. Yesterday, the company’s head of sales, Lee Brown, posted several photos of an unfurnished building.
“Tumblr LA office open!!!” he captioned it. It looks just like every startup space in Soho–except for the rays, of course.
Smack in the center of the lead photo, holding up a key, is wunderkind CEO David Karp. It doesn’t seem like Mr. Karp lingered to answer questions from employees re: what was up with that Storyboard shutdown. Read More
After a tumultuous spring that led to staffer mutiny and the ouster of CEO Drew Patterson, Gilt Groupe has decided to put its travel site up for sale, according to sources who talked to The Wall Street Journal. The Journal reports that the company has been shopping around Jetsetter for the past few weeks with an asking price around $50 million, but so far no interested bidders have taken the bait. Read More
Yesterday, Lot18–the members-only site for flash sales of wine–announced in a statement distributed to wine industry publications that it will permanently shutter its U.K. operations, effective at the end of the week. That includes laying off six full-time employees.
Apparently, British oenophiles are hard customers to come by these days.
The statement explains the closing: “The supermarkets’ stranglehold on the UK market proved too powerful for us to compete with and we have not experienced the anticipated growth rate.”
For those keeping score at home, this is not the first time Lot18 has dropped the axe on a significant number of employees. Back in January, the luxe startup let go of 15 percent of its staff–its first stumble following an explosive expansion. At the time, Lot18 CEO Philip James told Betabeat, “A lot of this is a natural part of the way a business grows and evolves.” Think he’s currently eating–or perhaps swigging–his words? Read More