Technology Fire Sale: Podtech Sold for Peanuts
Podcasting came in like a lion, but whether or not it will leave like a lamb is yet to be determined. However Podtech, a video podcast network with $7 million+ in venture funding has quietly been sold for a lowly $500k.
After Podtech was left for dead by the Fake Steve Jobs last year, I guess they should be thankful the sale generated anything.
The new owner is ViewPartner. No plans have been announced for what will happen the Web site.
The wheels started to come off the bus once all of their high profile players (Robert Scoble) jumped shipped. I’d like to know how the heck the company burned through so much cash.
A weak economy coupled with an influx of mainstream content certainly didn’t help Podtech’s cause – or any podcaster for that matter. In fact most podcasters have been unable to sustain their initial growth.