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Source:TechCrunch
It’s time to start slamming the reality of the Silicon Valley situation home to everyone. Seesmic founder Loic Le Meur lets seven employees go, he says, which is more than a third of the company. This comes on top of three employees let go a couple of weeks ago.

“We cut everything that wasn’t outsourceable, core or absolutely necessary for the company.”

Le Meur says the company isn’t in dire financial trouble yet, noting he raised a $6 million round just a few months ago. But he’s planning for a bleak fundraising future.

I am an investor in the company.Source:TechCrunch

Since the launch of the iPhone App Store, we’ve seen a wave of geo-aware social networks that make use of the phone’s GPS (or in the case of the original iPhone, pseudo-GPS). Each of these apps aims to help facilitate social interaction by locating nearby friends, points of interest, or people you might be interested in meeting (but might not know yet). There’s little doubt that some incarnation of one of these apps will help shape the future of social networking, but there’s still a huge geo-aware market that has yet to be tapped: Games.

Parallel Kingdom, launching at the end of the month, is set to become one of the first massively multiplayer online games (MMO) to hit the iPhone platform and Android platforms (both platforms will share the same in-game network). MMO’s have been tremendously popular on personal computers with mega-hits like World of Warcraft, and have proven to be lucrative with subscription models that feed off their addicting gameplay. Parallel Kingdom is hoping to take this success to a mobile platform.

This entry was posted on Friday, October 10th, 2008 at 5:30 pm and is filed under Company & Product Profiles, Parallel Kingdom. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.