Revver is For Sale!
As reported by many other sites, Revver is for sale!
And it’s at a bargain. Only $500,000. (Although you might be able to get them down to $300,000.)
The catch is you have to take on a $1,000,000 dept! (So effectively, the price is more like $1.3-1.5 million.)
The question is, what happened? How did they burn through $13 million in venture capital?
Revver has been reported as giving large payouts they were giving to Internet TV producers. Revver even payed out $1,000,000 in their their first year.
But this is reported as coming from advertising revenue. (And not from the venture capital.)
For me, I started wondering what was going on at Revver when Ian Clarke (of the Freenet and Dijjer fame) left Revver. It was a sign, for me, that something might be going sour there.
(Discussion about this on the Video Blogging Mailing List appears here.)
UPDATE: Revver may have been purchased.
Tags: Internet TV, NewTube, Online Video, Revver, TV, Video, Video Blogging, Video Podcasting, Vlogging, Vodcasting