Revver: A Bad Sign?

Video site Revver shopping itself for a song

Revver, a YouTube competitor that made a name for itself by paying video producers, has fallen on hard times.

The company’s staff has dwindled to less than half the size it was 18 months ago, according to former employees. Rumors flitter around the Web about whether the company is running out of money. Now comes word that Revver has been trying to sell itself at a fire-sale price for months, according to three sources close to the company.

Revver’s asking price is between $300,000 and $500,000, as well as the assumption of the company’s debt, which is in the $1 million range, said two sources with knowledge of the negotiations. The sum is tiny considering that the Los Angeles-based Revver raised $12.7 million in venture funding.

This isn’t good.

If a site that pays creators can’t make it, will that doom us to a Net where no one can get paid?

I’ve never visited Revver, I confess.

And I’ve never had anyone send me a Revver link.

Has anyone out there used Revver?

I’m going to go look through it right now.

Explore posts in the same categories: Tech - Other, Video - Online