Quartz CEO Seward to staff: You’ll get a cut of the sale

The pursuing is a memo CEO Zach Seward sent to the Quartz staff members Thursday morning:

  • Quartz goes forth from this offer unabated, with as a great deal ambition and function as prior to. Our newsroom will continue to be independent and targeted on world organization news and investigation. Our mission is still to make business enterprise superior, such as our have business enterprise.
  • All people at Quartz is coming along for this up coming chapter. There are no layoffs related to the sale, nor planned the moment we combine. Which is not what this is. G/O is rewarding, growing, and eager to welcome all of us across the business.
  • All existing staff of Quartz who do come together will be suitable for deal bonuses from the proceeds of the sale, totaling additional than $1 million. Appear out for more information and facts about the phrases of this deal reward in a different e mail these days.
  • Editorial: No transform in organizational framework, now or in the foreseeable future.
  • Organization: No initial changes to framework. We’ll perform with our new colleagues at G/O to completely integrate our firms in a thoughtful way around the future quite a few months. This includes partnerships, Quartz Imaginative, media technique and functions, and promoting.
  • Merchandise: We’ll combine our teams suitable absent and begin working on ideas to merge our infrastructure. Some reporting lines will stay the exact same, and other people will adjust. We’ll discuss about this in much more depth in products meetings this week.
  • Functions: We’ll integrate our groups in finance, accounting, individuals functions, and information and facts technological innovation from the start out, and this get the job done is by now underway.