Micropayment Service Bitpass to Close Down; Digital River Buys Out Assets

This is sad because I like the company’s service and used it in the past to sell reports from our site: Bitpass, the online micropayments firm backed by Disney’s venture arm and Guy Kawasaki, is closing. In a note sent out to customers, it announced that it is discontinuing operations from Jan 26th. The company has sold and transitioned over its assets to Digital River, the big e-commerce firm.
Douglas Knopper, formerly SVP at DoubleClick, joined as the CEO a little over a year ago, but the company had a tough time getting traction in the consumer market. The company pitched its services towards the small and indie content providers to begin with and even though it tried working with media companies in selling their content, the general online premium content market didn’t grow as fast as everyone predicted 3-4 years ago, as the online ad market came back.
So there you go: The company that bought the company that owed us $3K from three years ago is now shutting down. There goes any hope of recovering that.
Related: BitPass Raises $11.75M In Funding