PodTech, a video podcast network that had taken over $7 million in venture funding, has been sold--and the price may have been a downright embarrassing $500,000.
The news was reported this week by Eric Eldon at VentureBeat, but Valleywag's Jackson West was floating the rumor with less detail last week. And Fake Steve Jobs jumped the gun a little bit by declaring the company dead last October.
The buyer is the Los Angeles-based ViewPartner, a "communications technology company" that seems to only produce Google results about the fact that it bought PodTech. And while no financial specifics were named in the release, VentureBeat reported that the price was around $500,000. Ouch.
PodTech's woes had been very public as high-profile employees started leaving: marketer Jeremiah Owyang, who became an analyst at Forrester; blogger Robert Scoble, essentially the face of the company; and even CEO John Furrier. It was reportedly out of money, despite having raised a $5.5 million venture round and then another $2 million from U.S. Ventures and Venrock.
The rough economy is making it a shaky ride for many start-ups, but PodTech may have suffered from additional problems: the niche of "podcasting" didn't play out the way many expected it to, instead blending into Web video and audio content alongside far more traditional programming. While a few podcasters have become stars, the "top podcast" charts at the iTunes store look a whole lot more like big media: NPR, Comedy Central, and um, the Jonas Brothers.
Not quite up PodTech's alley.
Last.fm, the social music site that CBS Interactive purchased last year, will be seeing closer integration into one of the media conglomerate's other properties very soon. According to a joint announcement Tuesday, Last.fm and CBS Radio will be sharing audio content on the Web to provide online editions of CBS' radio stations to Last.fm users and free streaming music to CBS Radio listeners.
A collaboration with CBS Radio has been rumored since the Last.fm acquisition was first announced last May.
In what Last.fm co-founder and CEO Felix Miller said was "the first of what we hope to be many collaborations (with) CBS Radio," streaming versions of all the company's radio stations--including New York's WCBS, Los Angeles' KROQ, and Chicago's WXRT--will be available on Last.fm. In return, listeners using CBS Radio's player on the Web will be able to listen to full songs on Last.fm. The partnership is a simple one: basically, it's designed to create crossover and brand awareness between the two CBS divisions.
CBS Radio's 140-plus radio stations are now in the process of being introduced to Last.fm in a "staggered rollout." In addition to music, news, talk, and sports stations will also be available on the social network.
CHICAGO--One of the predictions in the lead-up to this weekend's Second Life Community Convention here has focused on the potential for lots of talk about organization.
There are plenty of critics who claim, however erroneously, that Second Life is a mess both structurally and technologically. And Linden Lab's decentralized and laissez-faire approach to the largely user-created virtual world, it could be argued, has allowed its identity to be shaped by its most prominent and press-worthy residents--who are, on occasion, blowing up buildings, stealing identities, and barraging lectures with oversized flying man-parts.
We won't really know until tonight at the earliest (more likely tomorrow) if there is indeed focused discussion about an evolution toward more order for Second Life. But one announcement timed in conjunction with the convention has hinted toward a "yes": the launch of the Virtual World Radio Network, which aims to be a hub for Second Life news and financial information as well as cultural programming. A live stream is available both in-world--the VWRN is giving free virtual radios to interested residents--as well as over the Web.
"The need for a truly professional, state-of-the-art media operation in Second Life has become apparent by the sheer number of unconnected blogs, podcasts, and other random bits of information in SL," a VWRN press release said.
Sounds like they have order on the brain.
The VWRN is not an official Linden Lab creation, but it's a positive sign to see that residents of Second Life are also catching onto some of the tactics that could help the virtual world move into maturity.
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