“The Big Mo” running out of steam

One of the things that I am very aware of as I go through this job search is that, with the technology field being what it is, very oftentimes a “hot” company today can quickly run out of momentum and become a dog tomorrow.  And with the economy becoming reminiscent of 2001, I ambeginning to wonder if maybe the big momentum that has been powering some of technology companies will run out of steam.

 

There is a local company that I am interested in working for. It provides content and applications for mobile devices and is considered one of the more exciting local technology employers. I remember reading back in the fall that the company was considering going public and the initial public offering may make some of its employees pretty well off.  

 

Recently a friend gave me some news about this company. He heard from his sources that the business model is not working, the company is going under, and plans to layoff 200 of its 350 employees.

 

I have not seen any mention of this anywhere on the internets anywhere but I want to mention it here and if this comes into fruition, I will blog about it again. If I hear nothing, we will chalk it up as one of the many predictions I have made/reported on this blog that have gone nowhere.