Revver Survives Scrutiny, Gets Bought
A little more than one week ago, there was a rumor that Revver was selling itself for between $300,000 and $500,000 (plus $1 million or so in debt). Now, the purchase price remains unclear, but the video-sharing site has been acquired by LiveUniverse.
LiveUniverse spent "just under $5 million," according to Liz Gannes. This would be much less embarrassing (for Revver) than the amounts mentioned earlier. Yet Gannes points out, "Revver had raised $12.7 million from Comcast, Turner, Draper Fisher Jurvetson, Bessemer Venture Partners, Draper Richards and William Randolph Hearst III."
So LiveUniverse is still unlikely to be thrilled about the condition of its new property. Plan on hearing about layoffs, fresh features, and perhaps some new partners in the near future.
Also, don’t be surprised if any changes cut a little deeper than usual – it’s possible that coverage of Revver’s cheapness drove up the site’s price. Supply and demand works, and so do advertisements for those going-out-of-business sales.
In any event, we’ll keep an eye out for the final dollar amount of this acquisition. And to brighten your Friday, we’ll also share this video of 17 happy puppies piling through a small door.