Announced today, 180solutions let go 50 employees, about 20% of its staff. A reorganization is underway. Spokesman Sean Sundwall said they are still very profitable but the number of users remains unchanged at about 20 million. Bill Day of competitor WhenU is says that advertising is usually strong in the 4th quarter and
"There's nothing in the marketplace broadly that is impacting us, in that the category overall is being shrunken systematically," he said. "It's something specific to 180solutions."
We know that 180solutions recently severed its business relationship with IST (Integrated Search Technologies) while under pressure from the CDT. In September a class action lawsuit was filed against 180solutions as well. Neither could be good for business.