TheImpressiveX@lemmy.ml 4 months ago
I’ve seen this happen far too many times.
Acquired/Acqui-hired
Examples: GeoCities, Posterous, Brace.io, Roon, Viddy, Qwiki, Yahoo! Voices, Blip.tv, Giphy
Situation: Company A buys Company B, employees and all. Together, they will continue their incredible journey to make the world a better place. A few months/years/seconds later, Company B is dead and its employees are either laid off or reassigned to Company A projects.
nutsack@lemmy.world 4 months ago
I’ve worked at companies like this. Company B might actually be profitable, benefiting millions of users in a charitable space, but it would look bad on the books to sell it, and it lowers the value of the company overall to keep it.