Silicon Valley based online TV startup MeeVee has laid off approximately 20% of its staff, including three executives. The cuts were primarily in finance, sales and marketing, and 27 employees remain with the company.
MeeVeee is an online TV guide that recently began to integrate video content directly into the site. They’ve raised $14.5 million in two rounds of venture capital.
CEO Michael Ranieri said this evening that the company is focusing on moving the product forward for now and is in the process of raising another round of financing. He also points to recent deals with Gemstar and CBS as signs of forward momentum for the company.
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