Feeds

Staff get the chop at London's web 2.0 poster child

CBS makes cuts at Last.fm

Internet Security Threat Report 2014

CBS has layed off about 20 per cent of staff at music site Last.fm, the poster child for would-be web 2.0 millionaires in the UK.

As part of cuts across CBS' online properties, about 20 of Last.fm's 95 staff received the bad news yesterday, according to reports. Last.fm spokesman Christian Ward declined to comment.

CBS paid $280m for the unprofitable Shoreditch-based start-up in the frothier days of May 2007 as part of a big online push, betting that ad revenues would grow. It was founded by Martin Skitsel and Felix Miller in 2002 as an personalised internet radio service. They incorporated Richard Jones' Audioscrobbler in 2005, which allows users to log their listening habits.

All three became millionaires as a result of the sale.

The acquisition spree that brought Last.fm into CBS' Interactive division also saw it pay $1.8bn for CNet. Staff at CNet sites, including ZDnet UK, are also being made redundant. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.