Tuesday, December 16, 2008

Gaia Interactive Cuts 13 Percent

Milpitas-based Gaia Interactive, which operates the Gaiaonline virtual world, announced very late Monday on its blog that it has cut 13 percent of its team due to a huge downturn in the economy. The firm said it found it necessary to make staff reductions and other operating cost cuts going into 2009. Gaia is venture backed by Benchmark Capital, DAG Ventures, Institutional Venture Partners, Redpoint Ventures, Sony Pictures, and Time Warner.