As Instagram continues to enjoy its success and ubiquity, Hipstamatic is looking for its place in the retro lens filtered photo-sharing world, a competitive niche market that Instagram already owns. The lay-offs, Buick says had nothing to do with not making enough money (as first reported) but restructuring, as he explained to The Next Web back in August. "We’ve shipped very little in the past 9 months, but by streamlining our organizational structure, we are planning to ship more products and updates in the next few months as we reset and rebuild our team," he wrote. If not social, we wonder what that reset will look like.

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