Las Vegas based social media and online tactical marketing group Digital Royalty announces closing of offices. In a statement released this morning, CEO and founder Amy Jo Martin detailed the end of the road for the Downtown Project organization. Statement below:
“Where passion, purpose and skill collide, happiness resides. This intersection is constantly evolving and changing as we take our journey through life. It’s up to us to acknowledge when there is a need for change and act on that change.
Today I’m announcing that after six solid years, Digital Royalty will be winding down in the near future as a result of some recent sizable shifts that affected our company. Some of these shifts were in our control and some were not. In order to honor our core values, which have been the epicenter of our culture, we have decided to hang up our crown.
We are proud that the international company, with a footprint in nine countries, has been consistently profitable however the upcoming strategic shift in the next quarter made us take a hard look at ourselves and ask ourselves what would make the most sense for shareholders and employees moving forward.
The business began six years ago at a time when social media was like the Wild Wild West. Convincing people to see the value in social was a hard sell at the time, yet we’ve been privileged to provide award-winning work to some of the largest and most well-known brands in the world. I could not be more proud of the Digital Royalty team and partners who have helped mold this world of social communication in which we now live. The landscape has changed a great deal from when I became attracted to the emerging social media movement.
Digital Royalty is in a position to provide our brilliant talent with severance packages and a runway of time so they can properly explore their next steps. My immediate priority is to help everyone on our talented team find their next path and wind down our operation as smoothly as possible for our partners. Some people from the team will be starting their own consultancies, others will be seeking ways to continue positively disrupting and impacting the world. I ask you to take a glimpse at our incredible line-up and share this link accordingly. I will forever be indebted to these individuals who put their blood, sweat and tears into Digital Royalty. They are the most passionate, talented and humble group of people I’ve ever come to spend my days with.
The company’s shareholders who were brave enough to take a chance on myself, the team, and our core values are being taken care of as well as we have decided to redistribute to investors so they would get their investment back. Thank you to Tony Hsieh and Baron Davis for your leadership, mentorship and support. Digital Royalty moved operations from Phoenix, AZ to Las Vegas, NV three years ago in order to join the Downtown Project initiative and we never looked back. We couldn’t be more proud of that decision to join this unique, unmatched community.
As for what’s next for me – honestly, I don’t yet know. It’s time for reflection. I have a deep passion for women empowerment and helping entrepreneurs so we’ll see where that leads me. In the interim, I will continue to speak, write and wave my renegade flag as an advocate for positive disruption across the globe.
Thank you to everyone for your support of Digital Royalty over the years. We are all very grateful.