Venice-based Viddy, an app that allows users to share videos, has reduced its work force by about one third, according to Tech Crunch.
Viddy reduced its workforce by 12 positions, specifically in the marketing and operations department, but its engineering team is still solid, according to Tech Crunch.
Time voted Viddy one of the top 50 sites of 2012, and the company raised about $36 million in venture funding in 2012.
The social-media company recently saw the departure of CEO and co-founder Brett O’Brien. The CEO played a major role in turning down a Twitter buyout offer in the high eight to low nine figures, according to Tech Crunch.