There�s not much I can say about the economy that hasn�t been said a hundred times already. We�re facing the worst crisis of our lifetimes, and no one can say with certainty what lies ahead or how long it will last.
In spite of these challenging times, Technorati�s prospects haven�t changed, and in fact, have never been brighter. In the past year, we�ve launched several very promising initiatives, and our business has grown significantly. Our overall strategy is not changing, however, the economy has changed dramatically so we�re adjusting to meet it. I�ll start with the bad news so we can end on a somewhat positive note. To ensure we weather the storm, we�re making changes at Technorati.
Unfortunately, this means sacrifices. Technoratiâ��s management team members are taking pay cuts ranging from 15-25% and employees are taking 10% cut. This also includes the reallocation of staff. Weâ��re laying off six employees today â�� including two executives — and there are two additional departures we wonâ��t replace. These are high performers who have worked long hours to get us where we are now. Theyâ��re also friends, and weâ��re very sad to see them go. We simply need a leaner and reconfigured mix to get us through 2009.
The good news:
The Technorati Media Network launched in June reaches an audience of more than 55 million across more than 60 blog and social media sites. comScore measures 12.5 million US unique visitors, placing us in the top 5 blog properties.
We continue to overhaul our technology infrastructure. The first of many planned improvements to search, indexing and analytics are delivering measurably better service to bloggers and a better experience for Technorati�s readers.
Blogcritics.org, acquired in August, added an open community of bloggers and the audience that follows them and gives us a lot more advertising inventory for the custom and premium programs our brand advertisers demand. The Blogcritics community and their readers continue to grow.
Technorati Engage, a self service advertising platform for blog and social media sites is in beta launch: ads are up and running on more than 25 sites. We�ll open the platform to all bloggers and advertisers in early 2009. AdEngage, our recent acquisition to power Technorati Engage, continues to operate successfully as a standalone entity.
We�re excited about what we�ve accomplished, and we�ve got a great foundation to grow. The team that remains place is incredibly talented and resourceful. We are all owners of this company and understand what we need to do. That doesn�t make it easier. In the long run, Technorati will emerge a stronger and more profitable place for us, and the bloggers we serve, to thrive personally, professionally and financially.
continue reading "Changes and Tough Decisions at Technorati"

