Published 09:35 IST, October 20th 2023

Product Hunt lays off 60% of staff in recent restructuring attempts

Layoff announcement was made public on October 10 by CEO Rajiv Ayyangar, who used X to facilitate connections between departing employees and available jobs.

Reported by: Business Desk
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Product Hunt | Image: Republic
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Product Hunt layoffs: Product Hunt, platform for discovering innovative products from smaller startups, apps, tech tools, and developers' side projects, recently underwent a major restructuring. While company h previously announced layoffs without specifying ir extent, it has now been revealed that approximately 60 per cent of team was affected, including individuals in design, product, sales, and various or roles. Notably, engineering, vertising, and community staff remain intact.

layoff announcement was me public on October 10 by CEO Rajiv Ayyangar, who used X to facilitate connections between departing employees and potential job opportunities. Ayyangar expressed necessity for se changes, citing need to streamline team for increased speed and focus.

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Longtime Product Hunt user and tech veteran Chris Messina initially revealed that Product Hunt h cut 70 per cent of its workforce, but Ayyangar clarified that accurate figure was approximately 60 per cent. This correction was attributed to outdated information on company's About page.

Rajiv Ayyangar h recently joined company in September, following roles as an Entrepreneur in Residence at Dropbox and as CEO and co-founder of virtual office startup Tandem.

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Traffic and financial stability remain robust

In his statement Ayyangar assured that layoffs were not linked to financial or company performance concerns, underlining that traffic and financial stability were robust. Inste, decision was driven by strategic considerations. Affected staff members received severance packages.

Product Hunt's transformation comes at a time when businesses are scrutinising ir software spending, which may impact appetite for experimenting with new SaaS products. 

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platform, originally backed by Y Combinator (YC) and Andreessen Horowitz (a16z), was acquired by AngelList in 2016, later spun out in 2020, and inspired creation of Hyper fund in 2021, designed to support innovative products featured on site.

09:35 IST, October 20th 2023