Hipstamatic’s Foundation for Photojournalism in Jeopardy?

The British Journal of Photography is reporting that Hipstamatic has laid off several people and may be facing financial challenges. Earlier this year, the company, which makes imaging software for smartphones, announced it was going to launch a Foundation for Photojournalism.

From the BJP piece:

“Letting people go is never an easy decision,” [Lucas Allen Buick, the company’s CEO] explains. “[This] reduction in staff was the result of endless discussion and debate about what we want our company to look like in the future. It was in no way a reflection of the work ethic or talent of those no longer with us. Over the last year we simply lost our focus. Art and creativity were no longer the center of what we did. Hipstamatic was founded as a lifestyle and culture brand that happened to make software. We aren’t a typical software company, and our inability to scale and ship became clear.”

(Thanks to Mickey Osterreicher for the link.)