TokBox Fires 50% Of Engineering Team, All Founders Gone

It was only seven months ago that video chat startup TokBox sent a taco truck to meet newly laid-off Yahoo employees in an effort to cheer up and recruit a few of them (the startup was kind enough to send the truck over to our office afterwards to let us in on the action). Now, it sounds like someone should be sending the taco truck in TokBox’s direction. We’ve gotten word that the company just fired six of its twelve engineers, or around 30% of the company’s total staff, and that all of the company’s founders are now gone.

TokBox offers a great product that allows for multi-user video chat from the browser, but it hasn’t really managed to take off, much to the chagrin of the company’s investors who include Sequoia and Bain Capital (TokBox has raised $14 million to date). That’s a lot of money for a video and chat startup, especially when there are a number of similar sites that have begun offering some of the same functionality.

So the company is beginning to make some major changes. TokBox recently got a new CEO — the third in the company’s brief history. Founder Serge Faguet was replaced by Nick Triantos last July, who in turn was replaced in May by former Mark Logic exec Ian Small.

TokBox VP Marketing Micky O’Brien says that this week’s firings were part of Small’s plans to restructure the company, and that as of this morning the vacant positions are being shown on the company’s Jobs page. She also says that TokBox’s last remaining co-founder, CTO Ron Hose, left the company on his own accord around four weeks ago.

Disclosure: TokBox is a sponsor for tomorrow’s Real-Time CrunchUp.