Wantful Cuts A Third Of Its Staff To Start 2013

By  |  January 29, 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.

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    “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.”

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

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