Akimbo in Limbo: Shuts Down and Looking For Buyer


Akimbo, the doomed-from-the-start online-to-TV video service, has finally shut down for good, and looking for a buyer for its assets. It has laid off most of its staff, and is maintaining a skeleton crew to keep the services up and running as it looks to find a buyer, reports NTV. The company retooled its business model just a few months ago, and raised $4 million from old and new investors, including AT&T (NYSE: T), Blueprint Ventures, Draper Fisher Jurvetson, Kleiner Perkins Caufield & Byers, Sprout Group and Zone Ventures. Total funding for the company since its formation in 2004 has been $47 million.

Maybe Blockbuster (NYSE: BBI) will pick up the skeletons, much like it did on the cheap with Movielink last year. We reported on a possible BB-Movielink-Akimbo triumvirate early last year, when BB was considering it seriously then.

Comments are closed.