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The company, which is founded by Jay Adelson and Kevin Rose of Digg, raised $8 million back in June and has lured some high profile talent to its video network over the past year, including Veronica Belmont and Gary Vaynerchuk. Nonetheless, the production costs for the company’s professionally produced shows can’t be cheap, so it’s not too surprising to see them joining the increasingly long list of Web startups making cutbacks.
We've contacted the company for additional details and will update our post if we hear anything more specific about today's cuts.
Update (11:14am PT): Expect a blog post concerning the layoffs to be posted by Revision3 CEO Jim Louderback shortly.