Wednesday, August 5, 2009

SplashCast Closes Doors

Portland-based SplashCast, which was a provider of streaming media and content services, has shut down. According to a blog post by Founder and CEO Mike Berkley Tuesday afternoon, the firm is closing shop and will be shutting down the firm's services and application network over the next few weeks. The move comes shortly after the firm failed to raise a Series B round, or to find a buyer for its business. SplashCast had been struggling since February, when it tried to switch business models, shutting its popular free accounts and instead focus on content providers. The firm had raised $4M from Emergent Capital and individual investor Mark Bayliss in March of 2008.