CNET is reporting that video sharing site Revver is trying to sell itself for $300-500k, a measly price given its total funding of $12.7M.
The company apparently has fallen on hard times, with over half of its staff leaving in the last 18 months and having accrued a debt of $1M. So far the company has had no luck finding a buyer even at such a low offering price. Both LiveUniverse, a “network of entertainment Web sites”, and Microsoft’s Soapbox (i.e. MSN Video) have considered buying Revver but neither has bitten.
The company apparently has fallen on hard times, with over half of its staff leaving in the last 18 months and having accrued a debt of $1M. So far the company has had no luck finding a buyer even at such a low offering price. Both LiveUniverse, a “network of entertainment Web sites”, and Microsoft’s Soapbox (i.e. MSN Video) have considered buying Revver but neither has bitten.
The site offered ad profit sharing to their uploaders. Looks like it didn't work out for them.
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