alarm:clock

Video - Monday, February 12, 2007

Hiding From Universal's Lawyers, Bolt Sells To GoFish For $30M

bolt logo.png
Legal issues surrounding file sharing continue to be the prime mover in the sector. Super popular video sharing site Bolt has agreed to sell itself to a smaller but publicly traded rival GoFish. Bolt needs the cash to pay for a settlement that apparently it has agreed to with Universal.

In December, Comscore said Bolt had 5.3M users in the US. Bolt claims it had revenue of $7M last year. GoFish, in contrast had virtually no revenues last year. GoFish was started in 2005 by Global Asset Capital, a VC firm. It went public last year via a reverse merger. Prior to buying Bolt it had a market value of $134M.

Read - Universal Near Deal With Video Site on Royalties (NY Times)

Post a comment




Remember Me?


More Recent Articles

ThumbDoes A Tough Quarter For Evergreen Solar And Energy Conversion Devices Mean First Solar Will Follow?

Tuesday February 9, 2010

Solar investors probably tossed and turned in their beds last night after reading the quarterly reports for Evergreen Solar (ESLR:NASDAQ) and Energy Conversion Devices (ECD) (ENER:NASDAQ). With both companies reporting revenue declines and larger th... Full Story

ThumbPetra Solar Raises $40M For Utility Pole Panels

Tuesday February 9, 2010

Petra Solar out of South Plainfield, NJ has raised $40M in 2nd-round funding. Craton Equity Partners and EspĂ­rito Santo Ventures co-led the round and were joined by return backers Element Partners, Blue Run Ventures, OnPoint Technologies and Kuwait... Full Story

Listen to alarm:clock

alarm:clock © 2004-2008

Swift Internet