SpotRunner fires people - blames Google

August 13, 2008

It appears that at least 54-100 SpotRunner employees were fired today. and the blame appears to be assigned to Google.

The story is developing… however initial reports are stating that the company is in disarray and there is rampant confusion on ‘who is next’ on the chopping block… story is what we call a recession developing

Some of the people shouting that “it’s gonna fail” — the issue worth noting that that spotrunner received a 40 million dollar investment from InterPublic and WPP last year… IE: they burned 40 million in a matter of months… on top of the 10 million they burned previously…

Local television advertising startup Spot Runner said today it had raised $40 million from television advertising buyers Interpublic Group and WPP, television advertising seller (among other things) CBS, as well as Allen & Company, Tudor Investment Corporation, Capital Research and Management, Lachlan Murdoch, Vivi Nevo, Index Ventures, and Battery Ventures. The Los Angeles-based company had previously raised a $10 million Series A round from the last two firms as well as Comerica Bank. … that’s alot of burned money

EDIT : The company is claiming that it’s not for financial reasons… just structural ones and plan on hiring more people shortly. However it appears that many don’t believe them