Perhaps the Web 2.0 bubble burst is coming prematurely. Online TV startup MeeVee has laid off around 20 percent of its staff, including three executives, reports TechCrunch. The cuts were made mainly in finance, sales and marketing and brings staff levels down to 27.
The online TV guide, which just recently added video content directly to the site, has raised some $14.5 million in two round of venture capital.
CEO Michael Ranieri said the company is focused on moving the product forward for now and has initiating another round of financing.
To curb anxiety, Ranieri points to recent deals with Gemstar and CBS as signs that MeeVee is healthy.
