RUMOR: Veoh’s Filing For Bankruptcy?
Mashable’s reporting that it’s got a source that’s reporting that Veoh’s close to bankruptcy. CEO Dmitry Shapiro then offered Mashable a “no comment” when contacted.
I feel pretty bad for Veoh. It was part of that fleet of Youtube clones that popped up once someone realized a dog riding a skateboard could equal big cash (that person being Google, who purchased the video service back in 2006 for $1.6 billion dollars).
Speaking as someone who’s used Veoh, it seems to only exist to store copyrighted content that Youtube weeds out – episodes of old TV shows, namely. But at one time, it raised $70 million dollars in funding from the likes of Time Warner & financial titan Goldman Sachs.
The site saw its user base decline steadily, from +5.5 million unique visitors in December ’08 down to 3.2 million unique visitors in December ’09, so I guess this isn’t a huge surprise. Still, it’s sad to see them go.
You gave it your best shot, Veoh.
Source: Mashable
Photo Source: Veoh
