Happy Thursday, Austin. We have scanned the internet to bring you what’s
happening in technology news. Here’s what’s going on:
Medium searches for a new business model, cuts one-third of staff
Medium, the online publishing company started by Twitter co-founder Ev Williams, is
cutting a third of its staff as it looks for a new business model.
The company, which has raised $132 million in venture capital from investors, relied
on the same strategy as other media companies to make money: placing ads on
In a blog Wednesday, Williams called that model “broken,” because it serves the
goals of corporations and not the readers of content.
Recode looks at what this means for Twitter.
Amazon is opening a bookstore in the heart of Manhattan
Online retailing giant Amazon.com plans to open its first New York City bookstore in
Manhattan’s Time Warner Center.
The 4,000-square-foot store will open in the spring in the Shops at Columbus Circle
on the edge the Central Park. The multistory shopping center is home to retailers
such as J. Crew and Cole Haan.
Amazon has been making a push into the brick-and-mortar retail sector after
focusing on online sales for many years. It opened its first brick-and-mortar
store in Seattle in 2015 and now has two others — in San Diego and in Portland.
Slack goes on another buying spree
Slack, the fast-growing team collaboration chat app, has invested in 11 new bot
startups to grow its Slack App Directory.
The company has invested in 25 startups so far with money from the Slack Fund, an
$80 million investment fund backed by venture capital firms including Andreessen
Since its launch of the platform and an initial 150 apps, the Slack App Directory has
grown to include more than 750 apps, and apps have been downloaded more than
six million times.
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