PaidContent: Spring Street Networks Slashes Staff; Sale Imminent
Personals provider Spring Street fired half its staff in an effort to lower costs, taking its headcount down to a dozen. Among the cuts was CEO Louis Kanganis, who was removed by Spring Street's board of directors. PaidContent reports that an anonymous source indicates Lavalife might be interested in purchasing the company and that Match.com has already made overtures. The online dating market is seeing vastly slower growth, according to Jupiter, now that it has almost reached the $600 million turnover point.
