StumbleUpon lays off dozens after failing to raise new round

Sources reveal that, content discovery company StumbleUpon was unable to secure more venture capital funding and is now letting go of dozens of employees in a new round of layoffs. The company had just under 100 employees and will have around 30 by the end of this week. Last week employees were told they would be laid off in individual meetings, and now those employees are finishing up their work. The company seems to be preserving people in engineering and sales roles.