Brazilian social gaming firm Vostu confirmed that it laid off an unspecified number of employees.
The company confirmed the layoffs but declined to say how many or the reason. It shows that even in fast-growing emerging markets, companies have to grow carefully or reset their strategies as the market changes.
In a statement, a Vostu spokesman said, ?Vostu grew a significant amount in the last 18 months and is constantly focused on improving efficiency for future growth which includes select and strategic hiring. We are consolidating our game design and development at our new headquarters in Buenos Aires.?
The company will continue to have offices in New York and Sao Paulo, Brazil. Vostu raised $46 million to date from Intel Capital, Accel Partners, General Catalyst, and Tiger Technology Global Management.
The firm was founded in 2007 by chief executive Daniel Kafie, Mario Schlosser, and Joshua Kushner. It grew up to be one of the largest social gaming companies in South America.
The company made casual social games and that brought it into a clash with Zynga, which sued in June 2011, accusing Vostu of outright copying Zynga?s games such as FarmVille. Vostu settled the case in December and made a monetary payment to Zynga. It also changed four of its games. Vostu?s traffic on Facebook grew in 2011.
Vostu has a couple of new games coming out soon. It has also made a foray into mobile games.
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Companies: Vostu, Zynga
People: Daniel Kafie, Joshua Kushner, Mario Schlosser
Dean is lead writer for GamesBeat at VentureBeat. He covers video games, security, chips and a variety of other subjects. Dean previously worked at the San Jose Mercury News, the Wall Street Journal, the Red Herring, the Los Angeles Times, the Orange County Register and the Dallas Times Herald. He is the author of two books, Opening the Xbox and the Xbox 360 Uncloaked. Follow him on Twitter at @deantak, and follow VentureBeat on Twitter at @venturebeat.
Source: http://venturebeat.com/2012/02/14/brazilian-social-gaming-firm-vostu-lays-off-staff/
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