Revver, the online video sharing site based in Los Angeles, is almost out of money, after failing to secure more funding, we learned through sources. The company had an acquisition offer on the table, from Brad Greenspan’s LiveUniverse, from what we know, but now News.com reports that the deal never materialized.
Revver’s asking price is about half million dollars, as well as the assumption of the company’s debt, which is in the $1 million range, the story says. Revver was one of the early pioneers in the video sharing space, and was the first to offer an ad revenue sharing arrangement with video producers, but fell on hard times after management trouble and lack of funding. It had raised a total of about $13 million in two rounds, from the likes of Draper Fisher Jurvetson, Bessemer Venture Partners, Draper Richards and others.
The potential LiveUniverse deal was first reported by Contentinople earlier this month, but was a bit premature.