Welcome to Tuesday.
300 people will lose their jobs.
Twitter, last valued at $20 billion, is allegedly swinging the ax across 8 percent of its sales team in order to prep for a buyout. The rumor mill has named Disney or Salesforce as potential suitors to the company who will release third quarter earnings Thursday this week before the market opens.
The cuts come in the wake of Twitter’s declining sales reports over recent quarters. Growth has slowed for the micro-blogging behemoth as consumers transition from platform to platform, ditching Twitter for video-friendly outlets and other dynamic features.
By laying off a portion of its team, Twitter might be able to free up cash (and stock) and focus on pursuing top-tier engineering talent—a remaining challenge they’ve battled to acquire engineers against sturdy stock players like Facebook and Google.
Ruben Cantu, former Apple and Sony employee, is taking applications for the second cohort of the LevelUp Institute, based in Austin.
A recent report from Common Sense revealed that lower-income and minority youth spend a greater number of hours per day using media than their higher-income, non-minority peers.
COMMON SENSE MEDIA
Here’s what happened when Harlem’s first minority-owned incubator committed $50k of in-kind resources, free office space, and mentorship to early-stage startups.
“I want to see how many girls of color we can get through that AP Computer Science exam, because it’s an early indicator that a student may go into college and major in computer science.”
With companies like TalkSpace and Joyable, Level Therapy hopes to position itself as the go-to app for virtual video chats via mobile by focusing on features that are more human and design-centric, flexible for the patient, and most importantly, accepting of the patient’s health insurance.