VC-Backed Vidku Downsizes Staff By ~20% In Restructure

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Screen Shot 2016-05-16 at 9.40.54 AMMinneapolis mobile video messaging startup Vidku laid off between 6-8 people or approx. 20% of staff last week as part of a “refocus”,  according to multiple (now former) employees.

The venture was formed in early 2015 from technology developed inside the University of Minnesota and made a big spash when serial entrepreneur turned tech investor Phil Soran led the charge on a $17m series A round as chairman.

It’s quite common for companies to hire fast and furious upon receiving venture capital; after all, scale is the general goal. Over time, a nascent product will find its fit (or not) and adjustments up or down are natural.  Without speculating as to the exact circumstances at play here, Vidku cofounder & CEO Jim Leslie corroborated reports and had this to say about it:

“We have had a very successful pilot with Vidku Teams and have gained a tremendous amount of insight from these users. Based on this information, we are refocusing our efforts on our roots of learning and development for both educators and business professionals. As a result, we are restructuring the Vidku team as we move forward.”

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