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Rumors have been floating for a while, and the now-on-now-off deal is finally happening: the troubled online video sharing pioneer Revver is being bought by Brad Greenspan video sharing service LiveUniverse, reports NTV. No wording on the price, but would be in the low single digital millions, if that.
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.