Pete Grillo, CEO of Portland-based Iterasi, continued this unfortunate trend that is hitting startups around the world and announced on their blog that they are reducing staff.
As November wore on it became apparent that the economy was not going to snap back in any meaningful way in the near term. Faced with this reality, today at iterasi we took the painful step of reducing our staff. Our reasoning parallels what is being echoed across the industry. We need to conserve our cash, even at the cost of adding features and growing our customer base.
To our users, rest assured that iterasi is on sound financial footing. We raised a funding round that in normal economic conditions would be gone in 2009 as we would be spending to grow. The reductions we made today assure that we can continue on our path – albeit at a slower pace – without having to raise funds in 2009. Hopefully by later in 2009 things will have started to move in the right direction and we will be in a good position to grow with the economy.
Iterasi is a browser-based tool for saving any web page - dynamically generated or otherwise - with the click of a button. The dynamic content is saved immediately in an accessible HTML format and stored to a secure personal account.
At iterasi, we love the Web. So much so, that we want to keep it. Forever. That's why we're taking steps to move beyond traditional bookmarking.... [more]
Rob Lewis
Rob is the President of Techvibes Media Inc. and Editor-in-Chief of Techvibes.com.
His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University.
When not blogging on...[more]
