Techub News reports that Gitcoin co-founder Kevin Owocki announced on social media that Gitcoin will close its main software development department, Grants Lab, and bid farewell to some of its outstanding team members. This is one of the toughest decisions since Gitcoin's inception. Key members of Grants Lab have successively left, and the team currently lacks a clear and sustainable profit model, resulting in its financial expenditures exceeding manageable limits.
Therefore, Grants Lab will no longer apply for the budget for the second half of 2025, and the remaining funds will be used to provide severance compensation for affected employees. Gitcoin stated that they will make every effort to support the transition of departing employees in a respectful and caring manner.
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Gitcoin Co-founder: Grants Lab will close due to lack of a sustainable profit model.
Techub News reports that Gitcoin co-founder Kevin Owocki announced on social media that Gitcoin will close its main software development department, Grants Lab, and bid farewell to some of its outstanding team members. This is one of the toughest decisions since Gitcoin's inception. Key members of Grants Lab have successively left, and the team currently lacks a clear and sustainable profit model, resulting in its financial expenditures exceeding manageable limits.
Therefore, Grants Lab will no longer apply for the budget for the second half of 2025, and the remaining funds will be used to provide severance compensation for affected employees. Gitcoin stated that they will make every effort to support the transition of departing employees in a respectful and caring manner.