Liz Gannes from NewTeeVee reports today that Revver was purchased by LiveUniverse. Revver was the home to lonelygirl, Ze Frank and some more. But for whatever the reasons, those video makers went to other sites like blip. Revver was one of the first sites to offer some dough for content, but for whatever, reason, it didn’t work, except for Revver investors.*
Initial remarks valued the company at $500k-$1.5mm.
*Update: Not everyone thinks that $5 million that great:
Something is wrong with the VC community if the source is throwing out the line
“I wouldn’t say anyone got rich, but everybody was happy”
If they sold for under $5 Million on raising $12.7 Million that equates to a minum loss of $7.2 Million.., not quite the return an investor normally looks for from a tech startup.