Beatport closes San Francisco office, lays off entire engineering team
Multiple sources have confirmed that Beatport has laid off its entire engineering team based in the company’s San Francisco office. In addition to shuttering the SF office, twenty employees were also let go at Beatport Headquarters in Denver. Both these moves come after the company posted a $1 million dollar operating loss during Q3 2013. SFX, which acquired Beatport earlier this year, is currently in the process of streamlining by cutting teams that are not profitable. In lieu of the news, SFX has released the statement below:
“With the additional resources provided by SFX, we are making significant new investments in Beatport and focusing on providing the best possible experience for our users – the DJ, the producer, the labels and the entire Electronic Music Culture community. To allow us to adapt and improve our service, it was necessary to make some organizational changes. We have closed our San Francisco office, reorganized our engineering team, and cut some positions in Denver. Beatport has always been about innovation and connection and these moves allow us to focus on that. With the recently announced acquisitions of PayLogic and Arc90, this refocus on maximizing Beatport as the definitive site for everything related to Electronic Music is indicative of our commitment to igniting the simmering Revolution of this astounding movement, Electronic Music Culture. We look forward to unveiling a number of exciting new technology initiatives in 2014.”
Beatport currently has a shell of its former team left to maintain non-store departments and the remaining members are currently being managed by Arc90 app development team, another recent acquire by SFX Entertainment.