Inverse.com, a digital media company launched in 2015 to appeal to millennial males through smart coverage of highbrow subjects like science, technology and entertainment, laid off six staffers last week. The company also made at least one layoff in May.
David Nemetz, a Bleacher Report co-founder who leads Inverse, confirmed last week’s cuts to The Hollywood Reporter. He called the cuts, which amount to about 15 percent of the staff, “challenging.”
“We’ve been fortunate to work with a lot of great and talented people,” he said. “As the site evolves and as we draw new readers and viewers, we’re continually streamlining in some areas and growing in others.”
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Nemetz continued: “It’s part of the process we face as a growing independent digital media company. It’s challenging sometimes, but it’s what we have to do to be better for our audience, our content and the brands we work with.”
This year, like 2017, has been a challenging one for digital media. In February, Vox Media conducted its first-ever round of layoffs, cutting about 50 staffers. More recently, PopSugar laid off around 19 employees.
Inverse was founded as a more serious alternative to the digital publishers that covet millennial males with more lowbrow content.
“We’re definitely trying to modernize the space and refine the category,” Nemetz said in 2016. “To reach guys, you don’t have to write about booze, babes and sports. There are a lot of more in-depth, intelligent topics that guys are interested in that create opportunities for brands to get involved.”
The company, which raised $6 million in the fall of 2016, brought in about 5.7 million U.S. multiplatform unique visitors last month, down from about 7.2 million in July 2017, according to comScore data.
