Wantful Cuts A Third Of Its Staff To Start 2013

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3:36 PM EST January 29th, 2013

Online gifting startup Wantful has cut nine of its 26 employees to begin 2013 as it shifts focus towards new areas of its business, according to VentureBeat.

“In the course of building out the company in 2012, we learned a lot about what we require to scale the business,” said John Poisson, Wantful CEO. “We made a big push to build our product assortment from 300 to more than 4,000, and those efforts are paying off.”

The company received $5.5 million in funding in March 2012 and says the layoffs represent an attempt to build on its revenue stream.

Read the full story here.

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