Maven news from Publishers Daily

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   RonElFranposted 6 years ago

   Headline from a Publishers Daily article: "Maven Makes Cuts To Say Media, HubPages Post Merger".
   
   Excerpts from the article:
   
   "After acquiring Say Media and HubPages, Maven is merging the three companies together and letting go of at least 17 staffers from Say Media and a few at HubPages..."
   
   "The reason these acquisitions make so much sense is because all three companies were essentially doing the same thing,” stated Maven CEO James Heckman. “We’re able to harvest efficiencies quickly by simply eliminating duplicative costs."
   
   "A spokesperson told Publishers Daily that layoffs were made across all three companies, but Say Media had the largest staff and therefore the most cuts.
   
   "Maven says the cuts helped it shave off $5 million in operating costs and that is is on track to hit its $30 million run rate goal this year.
   
   "The cuts, made two weeks ago, impacted Say Media’s creative studio, development, engineering, sales and administrative departments, according to Business Insider, which first reported the news.
   
   "Say Media’s Toronto and London offices have closed, and some employees in its New York, San Francisco and Portland offices were let go."
   
   You can read the article at https://www.mediapost.com/publications/ … merge.html

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   1. 66

      lobobrandonposted 6 years agoin reply to this

      Thanks for this. I only read the one published by Maven on the same topic. It said nothing about the layoffs and closing of the offices, but everything else.

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   2. 75

      TIMETRAVELER2posted 6 years agoin reply to this

      I wouldn't worry too much about this.  Any company that merges with others is bound to make cuts due to duplication as a money saving effort.

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2. 82

   Butterfly67posted 6 years ago

   I'm wondering if any of the editors have been laid off. I had a message a couple of weeks ago on my other account that one of my articles was about to be edited but then after about 3 or 4 days the message went and the article wasn't updated at all.

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3. 65

   psycheskinnerposted 6 years ago

   I am worried as heck because while these companies are doing the same thing only Hubpages is doing it well.  If the management don't see that they will screw things up real quick.  For example if any of the layoffs are the people who kept Hubpages well positioned. as the internet environment kept changing.

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4. 79

   Natalie Frankposted 6 years ago

   With Paul becoming Maven's COO it seems that the management team will be focusing on Maven, Maven's development and ROI for their investors with the other two companies left primarily to support Maven.
   
   The article also says that Say’s Ben Trott will become Maven’s Chief Product Officer, managing all three company’s product. So does this mean whoever was HP's Chief Product Officer was fired and now someone from outside HP will be managing it and the other two the same way?

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5. STAFF

   Paul Edmondsonposted 6 years ago

   We’ve created a single organization. I’m super excited to work with Ben T.  He’s very thoughtful and has developed some of the most inventive publishing systems.
   
   All of the HP engineers have joined Maven. Tim coordinates our product initiatives and he will report to Ben T.. Ben T. Has reviewed our product plan.
   
   Look for several improvements to come shortly. At the top of the list is broad AMP support and monetization improvements.

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      lobobrandonposted 6 years agoin reply to this

      Glad you like it there

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6. STAFF

   Paul Edmondsonposted 6 years ago

   HubPages is run very efficiently. We made some minor cost reductions, but all of it helps set the tone for ensuring we make good decisions for the future.

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      lobobrandonposted 6 years agoin reply to this

      Nice! Looking forward to the AMP roll out and the future.

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      TIMETRAVELER2posted 6 years agoin reply to this

      It's good to hear from you, Paul.  I think it's important for you to chime in every so often because it calms the nerves of those who worry about the future. Personally, I can say that I have done better since the merger than ever before, so to me, you guys are definitely doing something right.  Keep up the good work!

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7. 71

   Cre8torposted 6 years ago

   For what it’s worth, I’ve gotten to hear first hand the intentions of Maven and why the 3 companies not only see this as a good thing for the future but a necessity to survive as well. It’s a long term answer. I believe all of this is going to be for the best going forward. Though it’s uncertain and bumpy during transition I do believe that. In fairness, I remodeled a lot of homes and am used to having to make a mess in order to make it better.
   
   I am earning more than ever here this past year...whatever is going on, I can’t complain.
   
   And when they said “merger” at the beginning I saw all of this coming. These are normal actions in these situations. There’s a lot of repositioning and unfortunately some downsizing but that’s the nature of the beast.
   
   I suppose we’ll see but from what I’ve heard, read, and see happening as of today all seems normal and for the good. There’s always a chance new ideas will fail but I think the idea and plan is solid so you have to start there.
   
   Like I said, for what it’s worth.

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      TIMETRAVELER2posted 6 years agoin reply to this

      +1

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      lobobrandonposted 6 years agoin reply to this

      Yup, well said.

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