Hipstamatic has had some major cutbacks. The company has fired all but 5 of its core staff including engineers and designers. The company was staffed up as they prepared to work on a new release, but only one release was made in the last few months. The company is currently at a crossroads about what to do next. Hipstamatic currently sits at #99 in the top paid apps and it has not been making enough money. Hipstamatic competes directly against Instagram.