News
Digital Railroad scaling back business & shopping for a buyer
Digital Railroad, a leading provider of online archiving and marketing services to professional photographers, has posted an announcement in its community blog indicating that it has been unsuccessful in obtaining additional funding to sustain its business. As a result, the company has been forced to scale back with a reduction in staff and expenses while the company continues to seek a buyer or additional funding. This follows a layoff and restructuring of the business last January with the loss of 25 jobs and comes on the heels of a move by industry competitor PhotoShelter who announced last month that it was closing its stock photography business to focus on solely on its archive service.
The blog posting further indicated that it would post an update on the progress and plans for the business “shortly and expect to provide an update to you next week”. The company also stated that it expects to be able to continue to serve customers during this time of transition “Digital Railroad is committed to the continued support of its customers through this period and has retained adequate staff to support both member archives and image licensing sales through Marketplace”.
Web: www.DigitalRailroad.net - Blog announcement from DRR
Related:
PhotoShelter exiting stock photography business to focus on archive service (Sep 12, 2008)
Digital Railroad restructures, lays-off 25 (Jan 10, 2008)
Posted in: News, Photographers, Stock Photo Companies
