Adbrite, another Sequoia portfolio company, is feeling the pressure of Sequoia's doom-and-gloom lecture, and is laying off 40 of its 100 people, including the VPs of Finance and Marketing.
San Francisco-based Adbrite, which was spun out of Philip Kaplan's FuckedCompany.com half a decade ago, has $35 Million in funding, and made almost the same amount in revenues in 2007. They are one of the top ad networks, serving over One Beellionn ads. But the coming ad slowdown is going to affect them, no doubt. Adbrite folks think they'll come to about break-even after these layoffs, but my guess is they'll stay below profitability for a while.
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