Revver.com Sells To LiveUniverse
Revver has apparently sold to LiveUniverse (Brad Greenspan's operation) for less than $5m, at a considerable loss to investors.
"Online-video company Revver Inc., which has tried to stake out a niche by broadcasting only material that doesn't infringe on copyrights, has been sold to online-entertainment network LiveUniverse for less than $5 million, people familiar with the matter said.
The sale is a blow to Revver's investors, who had sunk $12.75 million into the Los Angeles company. The deal demonstrates the difficulty many online-video start-ups are having competing with Google Inc.'s YouTube."
http://online.wsj.com/article/SB120337555935275417.html?mod=googlenews_wsj
Things are certainly tough in the online video world right now, and will only get tougher as Google continues to crush all competition.