Long before Instagram came along and became the juggernaut that it is, Hipstamatic made a huge splash on the app scene. It started the trend of lomography on the iPhone, but in recent years has been totally eclipsed by Instagram. Follow up apps from Hipstamatic have not been well received, and while certain concessions have been made, Instagram has essentially stolen Hipstamatic’s userbase. And it looks like things are about to get worse for the company.
According to TNW, Hipstamatic maker Synthetic has laid off all but five of its core staff, including engineers and designers. It looks like they simply weren’t bringing in enough revenue to pay for the entire staff.
The company remains standing though, and maybe paring down like this will allow them to focus more intently on making great apps. But given how much trouble Synthetic has had in the past, we’ll see what happens.