Cardano Developer IOG Adopts New Venture Studio Model, June 12

Key Points:

• Cardano developer IOG restructures into a venture studio with spinoffs, laying off staff.
• Mostly executive staff at the IOG level were cut.
• IOG expects 3-5 companies per year to be spun out under the new business model.

Cardano developer Input Output Global (IOG) has recently undergone restructuring, transforming into a “venture studio” with a smaller core business model.

As a result of this change, the company has laid off some of its employees. Charles Hoskinson, IOG and Cardano co-founder, explained that the restructuring has resulted in many spin-offs, such as a wallet division, Lace, and an identity framework called Prism, and Cardano-related infrastructures.

Although Hoskinson did not specify the number of employees affected by the restructuring, he did note that executive staff at the IOG level were mostly the ones affected. However, the company has hired CEOs for Midnight and RealFi and these new hires have recruited additional staff.

Hoskinson also revealed his long-term vision for the company, stating that he expects to spin out an average of 3-5 companies per year. Under this new business model, the strategy and commercial aspects will not be monolithic, but will be delegated to the spinouts under the CEOs. This will enable IOG to focus on its core business while still exploring new ventures that will benefit the company and its clients in the long run.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Annie

Coincu News