Skift Take
As we've said before, HotelTonight was facing tough challenges from hotel brands and better funded online booking sites that have their own design on the last-minute booking space.
Last-minute booking service HotelTonight confirmed that it has laid off 37 staffers in a round of cuts that hits 20% of its workforce.
"Today’s decision was about making the best choice for the company in the long term," CEO Sam Shank said in a statement. "This agonizing decision is also the right decision."
HotelTonight raised at least $81 million in venture funding through early 2014 and attracted a post-money valuation that is estimated to be $320 million. HotelTonight's app for iOS is consistently in the top 20 travel apps.
Skift's Dennis Schaal wrote extensively about HotelTonight's prospects in a profile in August. At the time, Schaal wrote:
As HotelTonight approach
