Another social media reality check
Wetpaint today laid off nine staffers -- including co-founders Kevin Flaherty and Alex Berg -- as the 4-year-old Seattle operator of wikis refocuses efforts on its own online publishing ventures. It now employs 30 people.
The heavily-funded company isn't saying too much about the online publishing effort, which includes new business models for the battered media industry. But a company spokesman -- who labeled the change a strategic shift -- said Wetpaint is currently working on a stealth mode project that they plan to publicly disclose in the coming weeks.