Hipstamatic restructures, lays off app development team

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Hipstamatic has laid off all but five members of its staff as the mobile imaging app maker takes steps to restructure its business.

Hipstamatic let go three software developers, one designer and one writer according to a tweet from Jonathan Wight, one of the programmers who lost his job. "To be frank this is the best thing, it became apparent that we were spiraling the drain," Wight continued, adding "Would love if the entire team could get snapped up by someone. Really is an awesome f------ team. Totally squandered where we were."

Hipstamatic confirmed the layoffs. "We are restructuring the company, but business is moving forward as usual," the firm said. "We're heads-down focused on making beautiful, creative and fun products for our community and the world. We'll definitely be excited to share what's next when it's time."

Hipstamatic offers Apple (NASDAQ:AAPL) iPhone users a series of virtual lenses, film stocks and flash settings to create stylized photos and video clips, driving revenue via premium downloads priced at $1.99 as well as sales of in-app customization tools. The Next Web reports that Hipstamatic was in the process of developing an updated, user-friendlier version of the app at the time of the layoffs--sources said the startup "hasn't been making enough money" and is looking to revamp its business model.

For more:
- read this Next Web article

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