IAC Lays Off 25% of Evite’s Work Force
IAC/InterActiveCorp (NASDAQ:IACI) has laid off about 25% of their work force at Evite.com. Evite had about 38 employees and now they are down to about 29. Two of the executives that were laid off includes General Manager Rosanna McCollough and VP of Marketing Lariayn Payne. John Foley will be at the top Evite. Hans Woolley will be reporting to John Foley.
Evite has taken a hit on revenue which was generated mainly from advertising. Evite is also finding themselves heavily competing with social networking websites that have built in event invitations.
Evite currently has 22 million registered users and there are about 25,000 invitations sent each hour. Evite was launched in 1998 and has headquarters in LA, CA.
[via BusinessInsider]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry