New York-based Monitor110, a data- and information-gathering service funded by DFJ, DFJ Gotham, and Acadia, fired a third of its employees last week. As one insider described it, the company’s new CEO, Brennan Carley, felt that Monitor’s burn rate had gotten too far ahead of revenue. (Another way to put this, presumably, is that revenue was materialising more slowly than expected.)
Monitor is in talks with Reuters about a variety of possible deals, including a sale.
Monitor gathers information from the web and other sources and sells it to institutional investors. The company’s competitors include Collective Intellect.
UPDATE: Carley shuttered the company July 15.
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