Struggling Revver.com Up For Sale
Posted on February 6, 2008CNET reports that the Revver.com video sharing website is trying to sell itself for $300,000 to $500,000 (plus the company's estimated $1 million debt). This is a small value compared to some of the very large venture capital investments social media startups have received. CNET notes that the sale price is also a small percentage of the $12.7 million Revver once raised in venture funding. CNET also says a dealfrom LiveUniverse to acquire Revver never materialized.
Angela Gyetvan, Revver's vice president of marketing, told CNET, "I'm not at liberty to discuss any of this with you. I can't comment."
CNET says, "Revver gained some notoriety in 2006 when video-sharing became a worldwide craze. YouTube dominated the sector but Revver tried carving out a niche by catering to videographers."
Ad revenues cannot sustain an infinite amount of social networking and video sharing websites so at some point there was bound to be huge consolidation in these types of businesses. 2008 may be the year that many of the social media websites people were so excited about in 2006 and 2007 get purchased or go out of business. However, it did seem like Revver was one of the more popular video sharing sites at least early on. If Revver really is carrying a lot of debt it could be the reason why they are not getting bigger acquisition offers.