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Staff cuts at fantasy esports site Vulcun

"The company is transitioning to a new direction"

Fantasy esports company, which raised $12 million in Series A funding last April, has cut 14 members of staff from its 55 person team.

"The company is transitioning to a new direction, and unfortunately this is a painful but necessary part of the process," co-founder Ali Moiz told The Verge.

"We are actively helping these people look for new jobs, so if anyone is interested in hiring them, they can contact ali [at] vulcun." He added: "We'll have more announcements about our new direction coming shortly in the next few weeks."

Vulcun was founded in 2014 as a place where players can compete in both paid and free fantasy esports contests. In April 2015 Sequoia led the Series A funding round which raised $12 million and other investors included Zynga's Mark Pincus and Kabam's Kevin Chou.

According to Vulcun's website it has paid out over $10 million in prizes in the last year.

Now is a tricky time for fantasy sports with FanDuel and DraftKings, the biggest fantasy sports sites, being accused of being gambling operations by New York state's attorney general in December.

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Chris Buckley

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Chris Buckley joined GamesIndustry in January 2010, now based in BC Canada, Chris is a veteran of the global games industry. Starting out in coin-operated amusement machine (arcades) trade publishing in 1995, for Centaur Communications ‘AB (Amusement Business) Europe’ magazine, Chris made the leap into consumer games and joined MCV Media in February 2000, where he quickly became head of sales looking after a number of entertainment brands and sales staff, before immigrating to Canada in 2008. Chris now handles all commercial sales activity for GamesIndustry.biz, and sponsorships for GamesIndustry’s trade events like the GI Investment Summit.