Flavorpill, a New York-based email newsletter company, is hitting up investors for an 11th-hour cash infusion after losing ad revenue, a source tells us. The company has laid off a few folks and doesn’t appear to be hiring.
If our source is correct, Flavorpill joins a scrum of other Internet media companies gasping for air looking for money as spending and financing suddenly dries up. The company had a strong business there for a while, so here’s hoping they make it.
*UPDATE: Mark Mangan, Flavorpill’s Founder and CEO, weighs in:
It’s true that Flavorpill let some people go recently and we’re consolidating a few titles – necessary adjustments in anticipation of the ad market getting even worse. At the same time, we’re launching a new, lightweight daily email in a couple weeks and just launched a daily culture blog, www.flavorwire.com.
We are fundraising, but I wouldn’t exactly call it 11th hour. We’ve been looking for expansion capital for months now.
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