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Veoh Cuts 20 Percent

socalTECH

Los Angeles- and San Diego-based Veoh (www.veoh.com), an online video sharing site, has laid off 20 people, or roughly 18-20 percent of the firm's employees. Veoh said that the firm, although doing well financially, could not predict how soft the online advertising market will become, given the economic challenges of today.

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Get to Know Richard de Silva of Highland Capital

Both Sides of the Table

So it is a combination of markets and people. The contextual ad market was attractive. He is starting to see this occur in sites that are verticalizing content. Initially it was a UGC site that competed with sites like YouTube and Veoh. Why do you think Veoh didn’t succeed? (40:30 37:00-40:30).

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Interview with Richard Yen, Saban Ventures

socalTECH

For example, our existing portfolio is content related--Next New Networks, which is in online video, creating content for super distribution on multiple sites like YouTube, Metacafe, AOL Video, Veoh, and others--happens to be a content company. I've also got a partner in the Orange County area, so we've got the whole coast covered.

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Interview with Richard Yen, Saban Capital

socalTECH

For example, our existing portfolio is content related--Next New Networks, which is in online video, creating content for super distribution on multiple sites like YouTube, Metacafe, AOL Video, Veoh, and others--happens to be a content company. I've also got a partner in the Orange County area, so we've got the whole coast covered.

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