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Twitter Co-Founder Ev Williams’ Medium Cuts One-Third of Staff

  • ‘Shifting resources’ to define a new model to reward writers
  • Traditional ad model is ‘broken,’ doesn’t serve readers
Ev Williams

Ev Williams

Photographer: David Paul Morris/Bloomberg

Medium, the online publishing company started by Twitter co-founder Ev Williams, is changing its business model and cutting a third of its staff.

The company, which has raised $132 million in venture capital from investors including Greylock Partners and Andreessen Horowitz, relied on the same model as other media companies to make money: placing ads on articles. In a blog post Wednesday, Williams called that model “broken,” because it serves the goals of corporations and not the readers of content.