StumbleUpon has failed to secure itself additional funding, which will see the company laying off 70% of its workforce, cutting numbers from 100 to around 30 employees.
Employees were reportedly made aware of the changes last week, with those that are looking at the door to be finishing up this week. The ones that are sticking around, are mostly sales and engineering, according to VentureBeat. Their source has said that it's hard for StumbleUpon to compete against the onslaught of social networks.
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