SplashCast Discontinuing Further Developments, Looking To Sell

Posted Jun 8, 2009

The last time I wrote about SplashCast, it was around August 2007.  However a fewof weeks ago, the company started building widgets that revolve around TV shows available on Hulu.  When the company first started out, they allowed users to creates widgets that centers around user-generated content.  That trend fizzled out shortly after the term Web 2.0 even came about.

SplashCast attempted to raise a Series B round of funding, but was unable to do so.  The company’s first round was about $4 million by Mark Bayliss.  Rather than trying to keep the company afloat, SplashCast is now looking for a buyer.  Michael Berkley, CEO of SplashCast decided to focus more on Social TV.

SplashCast claims to be receiving 5.8 million unique viewers per month that are streaming 7.2 million videos.  These visits come through 25 SplashCast channels.  Despite all this traffic, SplashCast is having a hard time monetizing it.  This is why they have decided to put themselves up for sale.

By selling off their core business, this will give Berkley time to focus more on the Social TV aspect of their business.

[via TechCrunch]