The Messenger founder Jimmy Finkelstein is looking for more cash from new and current investors to bail out the struggling news start-up, Axios reported Thursday, citing unnamed sources.
The report comes as the company, which launched in May with $50 million, moves to lay off nearly two dozen staffers this week across all departments. It’s a big step back from Finkelstein’s highly-touted plans to hire 550 journalists within its first year, with the goal of drawing 100 million monthly viewers.
The Messenger reached a total of about 300 staffers, but hiring slowed dramatically as 2023 wore on.