📍 Summary: According to BlockBeats, Gitcoin co-founder Kevin Owocki announced on social media that the organization will close its main software development division, Grants Lab, and part ways with several talented team members. This decision marks one of the most challenging moments since Gitcoin's inception.
The closure is attributed to changes in the ecosystem, including evolving public goods funding methods, the maturation of Layer 2 ecosystems, innovative collaboration mechanisms, and the emergence of new competitors. Additionally, key members of Grants Lab have departed, and the team lacks a clear and sustainable revenue model in its current form, leading to financial expenditures that exceed manageable limits.
As a result, Grants Lab will not request the budget for the second half of 2025, and the remaining funds will be allocated for severance compensation for affected employees. Gitcoin has committed to supporting the transition of departing staff with respect and care.