‘Substantially All’ Assets Of Bankrupt Video Site Veoh Sold To Qlipso

Garage Sale; Yard sale

What’s left of Michael Eisner-backed video site Veoh has been sold to sharing startup Qlipso. Qlipso lets groups of people interact simultaneously with a piece of online media — like a video — and it says there will be “more and more social features coming” to Veoh, which hosts a large number of clips.

Veoh had raised more than $70 million in funding but had also faced several legal battles over copyright infringement. After a series of job cuts, it laid off the remainder of its employees in February and filed for bankruptcy, saying the “distraction of the legal battles,” as well as the struggling economy, had proven to be too much. Qlipso is backed by Jerusalem Venture Partners.

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