PodTech, A Onetime High-Flyer, Sells For A Song

PodTech, the once-promising creator of tech-related videos and podcasts, was sold for less than a half-million dollars to ViewPartner, a telecommunications firm, VentureBeat reports.

The Palo Alto company was founded in 2005 by John Furrier, back when building a business on podcasts seemed like a good idea. It raised $7.5 million in funding from US Venture Partners and Venrock, and employed geek-celeb Robert Scoble.

Last year it started hemorrhaging employees, including Furrier who left in August. Yesterday, Valleywag reported the company had stopped paying those that remain and was “pretty much entirely in hock to its bankers.” LA-based ViewPartner says PodTech “will be the first to deliver HD quality broadcast on the Internet within the next year.”

See Also: Robert Scoble On The Web, Without The Video

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.

Tagged In

deals sai-us video