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Orb Networks, one of the early pioneers is seeking a new orbit. Orb was one of the original three place shifting companies I wrote about in my Business 2.0 story. Sling Media and Avvenu are two other start-ups in this space. After having crafted a “swiss army knife” of place shifting services – watch TV anywhere via a browser, or listen to Skype voice mails away from your desk – the company is now trying to focus its offerings more sharply – starting with remote Skype VMail and another service that lets you watch your TiVo content anywhere.
As the company resets, and reboots, our dear friend, Ted Shelton exits. “So the board made the right decision yesterday — to do a restart that involves significantly cutting spending and bringing back the angel investor, Joe Costello, as the company’s CEO. I will miss working with the team at Orb, but I wish them all the best of luck bringing this truly incredible technology to market,” he writes on his blog. Costello is also the founder and CEO of Think 3,
an industrial and chip design CAD software company.
Orb has been applauded for its technology and has won many awards, despite not being able to figure out its exact game plan. Orb has already changed its business model once – it was a monthly paid service, but then later went to a free-ad-supported model. All this must be costing them money – serious money. Silicon Valley sources say that the company is looking to raise about $10 million. The company had raised its first round of financing in the amount of $4 million from Morgenthaler Ventures.