Callisto Media, a leading US publisher of non-fiction books, e-books and audiobooks, today announced that it will immediately restructure its operations to focus on long-term stability and profitability in the face of the current economic environment. These changes will result in significant cost savings, and will impact staff in New York and California.
Callisto has experienced unprecedented growth to become one of the world's largest publishers of non-fiction media, with over 50 million units sold to date. Its considerable library of books and other content are consistently top performers in their respective categories.
"Callisto continues to maintain its leadership position in the publishing world. We're relentlessly focused on providing our customers with the everyday content they depend on to improve their lives," said Benjamin Wayne, Chief Executive Officer. "We expect to continue our double-digit growth and expand our impressive library of wholly-owned IP. However, like most late-stage venture-backed companies, the timing uncertainty of a public offering, and instability of the broader market, dictate a near-term focus on balanced growth and profitability."
Callisto was founded in 2011 with a technology-driven approach to media and is backed by some of the top venture capital and private equity firms in the country. Callisto's unique algorithm-driven approach has made it one of the fastest growing companies in the history of publishing.
Press Release Service by Newswire.com
Original Source: Callisto Media Announces Restructure to Focus on Profitability and Long-Term Stability