socialmedian: Social TV Service SplashCast To Close

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Source: paidContent.org

Aug 06, 2009

Summary

The latest startup to fall victim to the recession: SplashCast, which had raised about $6 million in funding. SplashCast’s apps let users watch TV shows from within social networking sites—and chat and rate the content as they watch. “We demonstrated that premium content applications in Facebook and MySpace can be monetized effectively with high-end display advertising,” writes founder Mike Berkley on the company’s blog. “But that final chapter in the company’s history came too late, given our inability to convince the VC community to bet on us.”

Berkley says the company was unable to secure additional funding to continue operations—a refrain which should be familiar to varying degrees to other startups that have closed shop during the recession, including Sampa, TeeBeeDee, and Trusera, among others.