Webshastra gets real, cuts staff

Kavitha Vivek in Bangalore

It was yet another story of a well-funded startup at the time of the internet boom. But with the market rationalisation, Bangalore-based start-up Webshastra Pvt Ltd has significantly scaled down its manpower from its earlier 50 member team to a skeletal team of 10-15 people (including its top management) across it offices in Bangalore, Delhi and Mumbai following the downturn in the market, according to sources.

The company, which was promoted a little over a year ago had been committed an investment of $10 million in the first round from Warburg Pincus.

Webshastra was focused on providing online advertising solutions, ad-serving technologies and network management. However the company has now decided to scale down its plans and has opted to move out of network management to focus more on offering online solutions and related services, according to the company’s CEO Vinod Nambiar.