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BIV Reports: Vancouver-Based Social Media Management Platform Developer Hootsuite Lays Off Workers
Thursday, May 2, 2019Company Profile | Follow Company
Vancouver, BC, May 2, 2019--(T-Net)--Business in Vancouver is reporting this week that Vancouver-based unicorn tech company Hootsuite is reportedly laying off workers, and other sources have indicated that it is up to 100 workers or approximately 10% of the company's workforce.
See the full report on the Business in Vancouver website here:
Hootsuite is the developer of a widely used social media management platform, used by more than 16 million people and employees at 80% of the Fortune 1000.
Reuters reported in October 2018 that Hootsuite was working with Goldman Sachs and exploring a possible sale of the company for US $750 Million+, but subsequent reports have said the sale process has been called off.
Bloomberg reported that the company raised venture funding in 2014 at a valuation of about $750 million.
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