Veoh lays off 15, still lacks reason for being
An online-video industry insider emails us to tell us that Veoh has laid off 40 percent of its staff. On Monday afternoon, LinkedIn had 94 people listed as Veoh employees. PaidContent says that the company laid off 15 employees from its Russian office in St. Petersburg, and is hiring stateside. Veoh has raised almost $70 million in venture capital in order to produce a pale imitation of YouTube.