Maker Media, the company that publishes Make Magazine and Maker Faire is laying off its staff and halting its operations amidst financial troubles, according to TechCrunch.

Maker Media CEO and founder Dale Dougherty confirmed to TechCrunch that the company was ceasing operations and that it had laid off 22 employees, citing financial difficulties with publishing a magazine and the lack of corporate sponsorship.

“I started this 15 years ago and it’s always been a struggle as a business to make this work,” he told TechCrunch.

there was a drop off in corporate sponsorship.”

Launched in 2005, Maker became a major publication covering the “Maker Movement,” a culture that embraced do-it-yourself making and tinkering, involving everything from 3D printing, electronics, robotics, metal and woodworking, and other pursuits.

The company launched its first Maker Faire a year later in San Mateo, California, and has since licensed the name to hundreds of exhibitions all over the world.

The text above is a summary, you can read full article here.