One Kings Lane announced that it will be shutting down Hunters Alley, according to re/code. The eBay-like marketplace launched in January as a platform for people to sell used furniture and home decor directly to others.
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It was also reported that One Kings Lane has laid off 15% of its staff (79 jobs in total) in a corporate restructuring. The layoffs come less than six months after a $112 million investment that valued the company at more than $900 million.
New CEO Dinesh Lathi is said to be focusing as much attention on bottom line as top-line growth. The company is not currently profitable and revenue growth has slowed recently, according to the article.
Image may be NSFW.
Clik here to view.
It was also reported that One Kings Lane has laid off 15% of its staff (79 jobs in total) in a corporate restructuring. The layoffs come less than six months after a $112 million investment that valued the company at more than $900 million.
New CEO Dinesh Lathi is said to be focusing as much attention on bottom line as top-line growth. The company is not currently profitable and revenue growth has slowed recently, according to the article.
