On 4th Jan 2017 Ev Williams, CEO of Medium announced that there would be 50 redundancies at Medium followed by a significant business model change.
Reading this article on about the story on Engadget highlights the deals they had made with a number of large publishers last year to act as the backbone/framework for their publishing platforms and having to introduce an advertising model to support this huge effort.
It hasn’t really paid off, with a lot of people finding the advertising to be going against the invested concept of a platform that is all about writing and reading and nothing more.
Medium is now in Siege mode, with two of their offices shutting down, The most alarming statement is:
Williams is pushing Medium to devote what time and resources it has left to finding a way to get people to pay for “good” content.
‘What time and resources it has left.’
That to me sounds like Medium is going to be starting the looking for a buyer exercise knowing that they have millions of dollars of debt from their hefty VC funding.
Back in April of 2016 I wrote on this blog about why I was making a strong stand against the endorsing of setting up blogs solely on Medium that was being advocated by the Happy Startup School (you can read more on the below link).
A motivator behind that was raising the awareness not just of the ownership/licensing rights you have with Medium, but that they will sell or go bust and then everything you have done needs a new home. You’ll lose all that SEO juice as the marketers like to call it and then what will become of you?
Also published on Medium.