Publishing Startup Atavist Cuts Staff

Funds are drying up.

Atavist, the publishing platform founded in 2009, is struggling. Nieman Lab reports that the company has been forced to cut half of its staff as funding has dried up.

“We could go around chasing money, and potentially go down in flames chasing money all the way to the end,” Atavist CEO and co-founder Evan Ratliff told Nieman Lab. “Or we could figure out a way to make what we’re doing sustainable. Unfortunately, that involved letting some really wonderful people go.”

Atavist was founded by Jefferson Rabb, Ratliff, and Nicholas Thompson. Aside from being a platform, the company publishes The Atavist Magazine, which is the first digital-only publication to win a National Magazine Award.