Update: According to Gawker, everyone at the agency was fired? Can anyone confirm?
Update: Initially we wrote that the shop is no longer a business but we’re taking that back now OK? We’re told Spangler could still do something with it, but for now Jaeger is “winding down his involvement”. From what we know, Spangler won’t be taking over but that is yet to be seen.
Last week we reported on the dramz going down at thehappycorp. We asked agency founder/honcho Doug Jaeger for details but he didn’t really come through (despite our highest hopes for some transparency). But it seems he was foreshadowing a bit further than we could see at the time as news has broken today that he’s joined TAXI Inc. He wrote:
“Working with thehappycorp has been an amazing experience, but I am eager to have an opportunity to focus my energy more on creative work and innovation and less on the day-to-day of managing an office and running a company. There are exciting things ahead for me and everyone from thehappycorp. We will be releasing more information early next week and will be happy to keep you updated.”
We presume that “less on the day-to-day of managing an office and running a company” refers to the absence (eh hem, recent departure) of co-founder Matt Spangler who was known to be the more business minded of the two.
So, what will happen to thehappycorp, then? According to a source within TAXI, the shop will remain an entity that Jaeger owns. Its future is to be determined, we’re told, but know that Jaeger is “winding down his involvement.” The agency has always lacked a wholly sustainable business model — in the traditional sense, anyway. It’s been project based for as long as anyone can remember; some say that’s because Jaeger’s personality is better fit for one-offs than long term business agreements. Maybe that’s why he set it up that way.
But there’s no word as to what will happen to the folks still working at thehappycorp right this very moment. Did they know about the change before today? We’d heard Jaeger was looking around for a new gig, at Chiat, for example.
And still there’s no word from Spangler, who seems to have gone off the grid since his parted with his agency. Our spies indicate he may be waiting for a pay-out from Jaeger but that has yet to be seen since the company is apparently ankle deep in debt, say sources. But where is he?