Being acquired was probably the worst thing to happen to the company in its 10+ year tenure.
For the co-founders, they could cash out and call it a career, but for the folks who were supposed to continue to remain focused on work, it became nothing short of impossible.
The Zenfolio acquisition was just a disruptive and disingenuous experience for everyone involved on the Format side. There was 0 transparency, questions were constantly dodged, and ALL the culture that people working at Format worked to build and the inclusive community we fostered was basically torn down within a few weeks.
The compensation review was a slap in the face for those who have worked at Format. After the salary review gave me a 3% raise, about 40% below the market rate, and management felt proud of themselves and said I should be happy because it's a raise. Lol.
This combined with just the overall poor treatment of all the employees led to over 50% of the team either quitting within the next few months or being laid off due to the overlap in acquisition.
The lack of respect for LGBTQIA+ and BIPOC folks on the team who actively advocated for specific ways of support that existed in Format, with all requests basically ignored and still daring to rainbow was their logos during Pride month is just another strike on the new management of Format.