Social networking site hi5 was co-founded in 2003 by Ramu Yalamanchi and Akash Garg.
In an article published by Mashable, hi5 targets "the teens and twenties demographic and claims to have over 40 million members" as of July 2008. This figure puts it below the likes of Facebook and MySpace.
In October 2008, TechCrunch reported that restructuring had occurred at the San Francisco office of hi5, leading to a 10-15% reduction in their workforce. However, VP of Marketing Mike Trigg stated that the company continues to hire people for other open positions in the company which need key personnel.
by Ray Salloom
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