Amicable Split for Zivity and VC Investors

Two years after it grabbed the public's attention by securing $7 million in venture capital financing, Zivity, a social networking company that focuses on art nude photography, has voluntarily parted ways with much of its staff and capital. And, in a rarity when large amounts of cash are involved, everybody's walking away happy.

The reason for the split, according to Cyan Banister, Editor-in-Chief of Zivity and one of its founders, was that the site "clearly won't be a venture win on a short time scale." She maintains her confidence in the endeavor and believes that Zivity will be profitable soon, but continues, "It's going to grow organically, at its own pace." Meanwhile, competing projects within the company – notably the TopFans website and "War of the Roses" MySpace application – were beginning to receive more attention internally.