Popular Cryptocurrency News website, CCN previously CryptoCoinsNews has announced its closure. a Closure is due in large part to its 71% fall in mobile traffic connected to Google’s recent core search engine algorithm updates.
Founded in the summer of 2013 in Norway by serial entrepreneur Jonas Borchgrevink as “CryptoCoinsNews.com” at a time when there were few cryptocurrency new providers.
In 2017 CCN purchase its 3-letter domain name based on an offer from its previous owner. The offer was accepted by CCN which quickly transitions the entire site from CryptoCoinsNews.com to CCN.com.
In 2018 the website became a member of the Norwegian media company “Hawkfish AS” which also operates websites such as Hacked, HVY AND MoneyMakers. The news outlet has a staff of over 60+ employees comprising of Editors and Contractors/Freelancers from all around the world such as the United States, Europe, and Asia.
What Happened and Why The Closure?
It has since become one of the top 5 new sources for the latest cryptocurrency news updates among others such the Cointelegraph, Coindesk and others.
Google continuously makes changes to its search engine algorithm to ensure quality among its search results and points out that the update is “designed to improve our results.”
The recent Google Search Engine Algorithm Update, Dubbed the “2019 Core Update” hammered the websites traffic based on the screenshot below.
One should point out that the CCN is not the only website which has been hugely affected by these algorithm changes but NFL, DailyMail, Vimeo, Nintendolife and others have also seen a drop in their search based traffic.
CCN’s traffic like most online publishers is its lifeblood and thus a large dip in traffic can have a large effect on operations. The usual action would be to cut costs such as staffing and place more work into addressing SEO issues.
CCN pleads that a cut its staff,fund raising and/or other cost cutting measures wouldn’t be great for the morale of its staff hence it is going the dire root of closing the news outlet all together.
Personal Views: It is quite surprising that a news outlet such as CCN has placed all its eggs in one basket when it comes to traffic and rather than applying cost-cutting measures under its circumstances has decided on closure instead.
Farewell CCN… Gone Too Soon.
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