*FreeRide.com Ditches Third of Its Staff

Share this article:
Internet loyalty company FreeRide.com laid off more than a third of its staff last week in an effort to lighten the load on its way to profitability.


"We recently did go through a restructuring," said Lisa Dowdy, spokeswoman for FreeRide.com, New York. "We felt we needed to be self sufficient so we did cut back staff in order to reach self sufficiency so we would not be dependent on outside funding."


According to Dowdy approximately 48 of the company's 148 employees were let go. Although a former employee who asked not to be identified pegged the downsizing as being closer to 50 percent of the staff.


This comes on the heels of industry leader MyPoints.com's announcement earlier this month that it was shedding 123 employees. Seventy-six went to MagnaCash, which was spun off from the company, and 47 were laid off.


Details of FreeRide's downsizing were not available.


FreeRide.com, New York, offers marketing solutions to increase brand awareness and site traffic; motivate online and offline purchases; generate product trials, downloads or sign-ups; and create product research. FreeRide members accumulate points by shopping, searching and surfing the Internet and by interacting directly with FreeRide's sponsors via www.freeride.com.
Share this article:

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

News Byte: CX Scores to Take Their Place Beside Price Listings

News Byte: CX Scores to Take Their Place ...

E-commerce aggregator PriceGrabber will begin offsetting price info with service expectations.

Data Byte: Interactive Ad Revenues Exceeding TV for the First Time

Data Byte: Interactive Ad Revenues Exceeding TV for ...

At nearly $43 billion, interactive advertising revenues exceeded broadcast for the first time in 2013.

Marketers: Data Rich and Knowledge Poor

Marketers: Data Rich and Knowledge Poor

While advertisers have become incredibly data-savvy, the most difficult challenge remains causally linking that data to outcomes that really matter.