SplashCast Media has had some ups and its had its downs. The company raised $4 million in funding and even hired former TechCrunch editor Marshall Kirkpatrick during the Web 2.0 craze. SplashCast announced that they will be shutting down in the next few weeks according to a company blog post.
SplashCast designed widgets that were capable of aggregating different forms of multimedia. This included audio, video, RSS feeds, and photos. Later on the company launched a new service called Social TV that allowed users to watch TV shows on Facebook and MySpace.
“At each turn, we moved from what ultimately proved to be a declining market opportunity to a larger opportunity,” stated SplashCast CEO Michael Berkley. “We have a lot to be proud of. In addition we have a lot of lessons learned to humbly take with us as we move on.”
Publishers were not willing to pay SplashCast to use their service. Venture capitalists were also not willing to “bet” further on the company. This is why the company has officially decided to shut down. It was a good run, guys. Best of luck on future endeavors.