May 2, 2022 - Economy

Shakeup hitting The Recount, staff cuts coming

The Recount

The Recount is planning to restructure its business, sources tell Axios. Staff cuts are expected in the next few weeks. Its chief content officer Ryan Kadro has exited the company.

Why it matters: The three-year-old video news startup was planning to raise money in the near future. Its reevaluating plans as it looks to build a new leadership team.

Details: The announcement about Kadro's departure was made at an all-staff meeting on Friday, two sources tell Axios.

  • Sources say he and the board have mutually agreed to part ways, effective immediately.
  • Kadro, a longtime television news producer, oversaw day-to-day editorial strategy and programming. He joined the company in October.
  • The Recount founders, veteran journalists John Battelle and John Heilemann, wanted Kadro to commit to staying past the fundraising period.
  • Roughly 75 people work at the company.

The big picture: The Recount launched in 2019 to focus on short-form political video across streaming and social media.

  • In the years since, it's broadened its focus to broader video news, as the appetite for political content has waned in the Biden era.

What's next: The Recount is looking to further streamline its operations to focus on lower-budget streaming efforts and solidify its leadership team ahead of trying to raise more funding.

  • The Recount raised $18 million in a series B funding round led by Foundry Group, last year. It raised a $13 million series A funding round in 2020.

Editor's note: This post was updated to clarify that The Recount founders wanted Kadro to stay past the fundraising period, not long term.

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