One of the only adult site’s to get funding is cutting 1/3 of their employees!

Is this shocking, not really. Why ? Cause they shouldn’t have gotten money to begin with!

From TechCrunch

Zivity, the adult social network and media site that describes itself as a “community-powered showcase of female beauty”, has laid off 1/3 of its staff, cutting back from 22 employees to 14. (Again, 1/3 seems to be the magic number - Jive and Seesmic have both laid off about a third of their staff in the last week).

Zivity is in a unique position as one of the only venture capital backed sites with “adult” content (i.e. nudity), and has raised a total of $8 million. Earlier this year the site scored Napster co-founder Jordan Ritter as its CTO.

Co-founder Cyan Banister says that cuts were made across the board, and that the layoffs are a preventative measure that will ensure the company’s sustainability over the next few years as it has become much more difficult to raise further rounds of financing in the current economic climate. The site is still in private beta, and Banister expects that it will go public in the first quarter of 2009.