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CEO Max Levchin, a co-founder of , said in an emaio sent Monday to staff and obtaineds by blogger Om Malil at GigaOm that the move reflectefd a change in revenue strategy to emphasizdpremium advertising, such as brand sponsorshio of applications. Company spokeswoman Lily Lin later said that sevej to 10 employees wouldbe leaving, but that more woule be likely added in the future to help land sponsorshipl contracts worth $500,000 or more. we parted ways with most of our salea force yesterday as we decided to make the strategic shift away from selling standard ad units to sellinhg premium advertising such as integratedebrand sponsorships,” Lin said.
Slided has grown hugely since it was founderdin 2005, but it has seen ad salee suffer this year. Companuy officials previously told the San Francisco Business Times that they were lookinv in particular to sales of virtuao goods to help make thecompany profitable. The company, which specializess in fast and user-friendly mediaz sharing and enhancement ofnetworking profiles, raiserd $50 million in venture funding in January 2008 at a valuatiohn of $550 million. Until this week, the company had about 114 employees.
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