Not too long ago I linked to a corporate profile of Odyssey, a content engine that relied on free and low-paid individuals to generate viral material. Turns out they haven’t nailed down the business model quite yet:
Digital media startup Odyssey has laid off 55 people, slashing over a third of its full-time, paid staff less than a year after raising $25 million, CEO Evan Burns confirmed to Business Insider.
This is a dramatic change for a company that board member Michael Lazerow described in April as being the most exciting company to him since he invested in BuzzFeed.