Revver was once the headline, as they attempted to create a niche video site to compete with YouTube (Nasdaq:GOOG). Their key differentiator at the time was to pay video producers for their works, and hopefully significant web traffic would follow. That never happened, and they're now in trouble.
It seems the company is in so much trouble that they've been attempted to sell themselves for months, at the extremely low price of between $300,000 and $500,000, according to CNET. Along with the price is the assumption of about $1 million in debt.
The company has partially attained its goal of attracting talented video producers who are very loyal to them. The problem is it's a small group of people and evidently don't have the clout to draw large audiences.
Rumors have been circulating around the Internet that Revver is running out of money, and they may be true when you look at the price being asked by the company.
In the beginning of the business, they had attained $12.7 million in venture capital from a number of big-pocketed sources, and looked like they were going to be a significant player.
What it looks like happened here is the producers of the videos for the site developed into a small community, and watch and comment on the video productions they made. It seems they've never been able to expand beyond that small, core audience.
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