Slingshot SEO Inc., a fast-growing Internet marketing firm that made a job-creation deal with the state in 2011, said Monday that it was eliminating about 15 percent of its work force—or roughly 15 employees.
The moves are being made to help the firm deal with big industry shifts in search-engine optimization, the Indianapolis-based company said.
“The move was made in order to better position the company to upcoming opportunities and to refocus its mission beyond search-engine optimization,” spokeswoman Kate Snedeker said.
Slingshot was ranked the fastest-growing company in central Indiana last year with revenue of nearly $11 million and 100 employees, according to IBJ’s annual ranking. The privately held firm had revenue of just more than $1.3 million two years ago.
The Indiana Economic Development Corp. agreed in May 2011 to award Slingshot up to $1.15 million in tax credits, if it creates 114 more jobs by 2013. The company had about 50 workers at the time.
Snedeker noted that the company is still hiring. The company’s job postings include future openings for “search media” networkers, who will be responsible for generating “earned media” placement on behalf of clients.
Google shook up the SEO world in 2011 by changing its search algorithm, which made some optimization tactics obsolete. At the same time, companies are looking to use email and social media to push marketing messages out to an audience, rather than pulling traffic to a single website.
The social media trend prompted Compendium Blogware to reposition its business this year. The company previously used blogging to help clients drive traffic to their websites. Compendium now sells a “hub,” where clients can deposit marketing content and have it distributed over a number of platforms.
It's not clear what direction Slingshot is headed. Snedeker said CEO Don Kane would not be available for comment. Kane recently moved from chief operating officer to the CEO post after the departure of Jay Love. Slingshot was founded in 2006 by three entrepreneurs with roots in Zionsville.